INSTITUTIONAL FRAMEWORK AND OBSTACLES TO DEVELOPMENT OF CRAFTS IN THE FEDERATION OF BOSNIA AND HERZEGOVINA

Zdenko Klepić, Igor Živko and Nikola Papac

Economy & Business Journal, 2014, vol. 8, issue 1, 433-441

Abstract: A craft in FB&H is an independent and permanent pursuit of legal and registered economic activities in primary, supplementary or additional occupation, by physical persons, for the purpose of generating profits through production, trades or provision of services on the market. Crafts fall into the category of SMEs, and SMEs constitute almost 90% of the total number of companies in BiH. In order to develop entrepreneurship in B&H, it is therefore very important to improve the legislative framework, provide balanced conditions for development of crafts throughout B&H and try to have a stimulating effect on craftsmen in order to provide adequate place to this sector in the overall economy and encourage growth and development of the overall economy. The legislative framework for development of crafts in FB&H is divided into a part related to laws, and a part related to decrees and regulations on crafts in FB&H. In their operations, crafts and craftsmen face many challenges and obstacles, such as the inadequate legislative framework that does not ensure development of crafts in compliance with international standards and brings inconsistent conditions in the whole territory of FB&H. Bringing the legislative framework for crafts into line with international standards and harmonizing it in the entire territory of FB&H would help create better conditions for development of crafts but also for development of the overall B&H economy.

Keywords: craft; federation of b&h; sme (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:isp:journl:v:8:y:2014:i:1:p:433-441

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