Abstract
The economy of Bosnia and Herzegovina and the Republic of Srpska (RS) in the last decade, from 2001 to 2010, according to official statistics, has recorded a significant economic growth. Between 2001 and 2010 GDP in the RS has almost tripled, from 1,478,000 € to 4,250,000 €, respectively (Republic of Srpska Institute of Statistics 2011). This growth is due to the growth of the sector of small and medium-sized enterprises (SMEs) that, in the period between 2006 and 2008, has recorded a growth of SMEs of 8.41 %. The growth has continued in 2009. Out of 14,321 companies, only 55 or 0.38 % were large enterprises. However, in 2010, according to APIF data, 9,472 companies have submitted their required financial reports for the year 2009. Comparing this number with the data from 2009, the question is what happened with other companies? Have they ceased to do business or simply have not fulfilled their legal obligation?
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Notes
- 1.
Intermediary Agency for IT and financial services (abbreviated APIF), http://www.apif.net/index.php/en
- 2.
These laws are following: Law on Companies, Law on Guarantee Fund, Law on the single register of accounts of companies, Law on Crafts and Entrepreneurial Activities.
- 3.
There are two laws that are contradictory because differentiate differently enterprises by their size: Law on SMEs development support and Law on Accounting and Auditing, as can be seen in Table 3.
- 4.
The number of enterprises per 1,000 inhabitants was calculated according to the European Commission Recommendation of 6 May 2003 (2003/361/EC)
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Petković, S., Tešić, J. (2013). SMEs and Entrepreneurship Development and Institutional Support in Republic of Srpska (Bosnia and Herzegovina). In: Ramadani, V., Schneider, R. (eds) Entrepreneurship in the Balkans. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36577-5_15
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