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Reading: An increasing Number of Young People are starting private Businesses in BiH
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Sarajevo Times > Blog > BUSINESS > An increasing Number of Young People are starting private Businesses in BiH
BUSINESS

An increasing Number of Young People are starting private Businesses in BiH

Published January 15, 2024
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In search of beautiful and positive stories, the journey took BHRT to Žepče, where, with the help of the Municipality of Žepče and the Development Agency, an increasing number of young people are starting private businesses, and the start of each new business means the creation of new jobs. The story of colleague Armin Berbić.

And while the trend of people leaving Bosnia and Herzegovina is still present, there are also examples where small businesses are started with the aim of staying in Bosnia and Herzegovina. We found several such examples in Žepče.

Many will say that the path from creation to realization of a good business idea is not at all easy, but with a little courage, a lot of motivation and enough financial and mentoring help, you can still succeed in Bosnia and Herzegovina’s market.

Branimir PAVLOVIĆ, business owner

“Currently we have three employed workers, I have plans for more employment and expansion.”

Maja STOJIĆ, business owner

“At the moment there are four of us in total, that means me and three other workers. We have a girl who only does nails, one girl does formal hairstyles and make-up, we also have a hairdresser. Without that group, this business simply could not function. Maybe it was too ambitious at the beginning to hire three workers, but I took that risk knowing that it would work and pay off.”

Constant consultations and useful advice, as well as support through public appeals in the form of money to young people, are of great importance because statistics show that the largest number of companies fail in the first three years of their operation.

Branka JANKO, director of the Žepče Development Agency

“Last time, we managed to get funds, so we gave up to 6,000 BAM to small businesses, which were used for the purchase of equipment and machines. The municipality of Žepče provides funds to finance 12 salaries for one employee, so we tie up those funds. There is also the Federal Bureau of Labor which also bears the costs for salaries, and the Agency tries to ensure that the company gets the funds for work without which its business ideas cannot be realized.”

No matter how good an idea seems to be at some stage from its origin to its realization, it can be shown that it still has certain shortcomings that need to be eliminated in time. For many, it is an advantage that the registration of a small business is quick and free.

Branka JANKO, director of the Žepče Development Agency

“Since its foundation in 2010, the Žepče Development Agency has been working together with young people and other categories to create ideas, analyze ideas, analyze their profitability, support the registration of the idea, and of course, what is most important in my opinion, that when the idea is converted in business to be sustainable and survive.”

For these young people, the risk has already paid off because they managed to find their place in Bosnia and Herzegovina with hard and quality work. market so that they do not plan to leave Bosnia and Herzegovina. They are convinced that they can improve their services, expand their activities, and this will soon lead to new employment.

Maja STOJIĆ, business owner

“You can see that it was a big investment. We built a salon according to European standards and I think it’s pointless to talk about leaving because we want to stay in Bosnia and Herzegovina. My goal may sound a little ambitious, but I plan to use this salon to create a system, I am planning franchises through Bosnia and Herzegovina, to expand to larger cities.”

Branimir PAVLOVIĆ, business owner

“I definitely plan to stay. I think it is possible. I also started from scratch, but with a lot of work and effort, you can stay and survive.”

These examples show and prove that even in small communities it is possible to succeed in creating a good business association, because starting new businesses leads to new jobs, which directly improves the economic picture of Bosnia and Herzegovina.

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