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International journal of multidisciplinarity in business and science, Vol. 7 No. 11, 2021.

Professional paper

SMALL AND MEDIUM-SIZE ENTERPRISES IN THE FEDERATION BOSNIA AND HERZEGOVINA – CONDITIONS, PROSPECTS AND BUSINESS IN THE SHADOW OF PANDEMIC

Danijela Martinović ; Faculty of Economics, University of Sarajevo, Sarajevo, Bosnia and Herzegovina
Ljiljan Veselinović orcid id orcid.org/0000-0003-2585-5016 ; Faculty of Economics, University of Sarajevo, Sarajevo, Bosnia and Herzegovina
Jasmina Mangafić orcid id orcid.org/0000-0003-2560-3230 ; Faculty of Economics, University of Sarajevo, Sarajevo, Bosnia and Herzegovina

Full text: croatian pdf 194 Kb

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Abstract

The paper presents the position and prospects of small and medium-size enterprises in (the Federation) Bosnia and Herzegovina and challenges they are facing during the pandemic caused by coronavirus. Even at the pre-pandemic time, small and medium-size enterprises in Bosnia and Herzegovina faced a series of limitations which are the result of the complex state organization, underdeveloped economy and inadequate financial, technical and legal-regulatory support. The pandemic additionally highlighted the vulnerability of small and medium-size enterprises in Bosnia and Herzegovina. While the world implemented a broad range of measures supporting the economy, Government of the Federation B&H and Cantons opted for a limited number of financial support instruments, the aim of which was to maintain current liquidity and aid threatened activities and small and medium-size enterprises. The paper provides a comparative overview of the measures implemented across the world, as well as the experiences and effects of the measures implemented in the Federation Bosnia and Herzegovina. Due to limited financial capacities and the division of authorities it was not possible to implement all the necessary measures. Some measures of support to entrepreneurs proved to be successful; however, there have also been measures which were not timely and did not encompass all the entities that needed help. It can be concluded that the development of economy, and particularly of small and medium size enterprises in Bosnia and Herzegovina requires a higher degree of coordination, strategic long-term approach and adequate legislative and financial support.

Keywords

small and medium-size enterprises; measures of support to economy; COVID-19

Hrčak ID:

260175

URI

https://hrcak.srce.hr/260175

Publication date:

9.7.2021.

Article data in other languages: croatian

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