Meeting: Process of Business Incorporation in FBiH – status and suggestions for improvement

On Wednesday, 28thSeptember 2016, with the invitation of the Entrepreneurship and Business Association LiNK, representatives of the Foundation 787 took part in the meeting of expert titled "The Process of Business Incorporation in FBiH – status and suggestions for improvement".

In addition to representatives of institutions and organizations that provide support to entrepreneurs, friends of the Foundation 787 and young entrepreneurs Irma Saljević Krvavac (Freya Design) and Damir Bajraktarevic (Dawood) spoke at the gathering. The participants shared information about the process of registering their own businesses, and on the practical side, shared their experiences on what and how this process can be improved, made faster and more efficient.

Based on the introductory presentations and discussions, the following conclusions were made at the gathering:

The participants of the expert meeting agreed that the establishment of a one-stop-shop system is important for:

  1. a) Easier and faster start of business,
  2. b) Providing data to state authorities,
  3. c) Improving BiH's rating for starting a business,
  4. d) Better conditions for attracting foreign capital.

The participants in the expert meeting welcomed the commitment of the Government of FBiH to more decisively and more responsibly implement the Action Plan for the implementation of the Reform Agenda and the establishment of a single-tier system.

The establishment of a single-entry registration system for business entities can not only concern the Government of FBiH, but also other levels of government and all key involved.

The one-stop-shop system must be the concern of the municipality that should:

  1. a) Set up their counters - all in one place;
  2. b) Training personnel for the said job;
  3. c) Establish a team to service entrepreneurs and investors when registering, but also for providing business advisory services;
  4. d) Assign personnel for providing support to each of the investors.

In addition to the intervention in this field, it is necessary to prepare and implement reforms on other factors that make a favorable business environment:

  1. a) Political planning factors - strategic and other documents;
  2. b) Improvement of economic factors: registration of business entities, access to finance, competitiveness, standardization, certification, branding, etc.;
  3. c) Development of the social factor of the business environment: improvement of the entrepreneurial spirit, promotion of entrepreneurship, pre-qualification and further qualification, etc.;
  4. d) Creation of efficient technological factors: business infrastructure / incubators, zones, innovative and centers of excellence, technology transfer, development of cooperation between the academic community and the economy, etc.;
  5. e) Taking care of ecological factors important for the business environment: awareness of environmental protection, energy efficiency, and more.

Conclusions of the expert meetings were, besides the meetings’ participants, also supported by the Network of Organizations for Economic Development of BiH - LEDnet Network, which has 27 members from the public, private and NGO sectors with 13,000 small and medium enterprises and 24,000 employees.