“When you go somewhere abroad and try to start something there, there is something in your heart that always pulls you back to your homeland.”
This is how representatives of the Bosnian diaspora most often talk about their home country, and some of them, despite the possibility of more stable opportunities elsewhere, decide to return to Bosnia and Herzegovina to start a business. Among them are the founders of the companies Cemedic, SIAA Energies and the Beyond agency.
The 1992-1995 war in Bosnia and Herzegovina (BiH) and the economic and political state of the post-war country are some of the main motivators for the close to two million citizens to leave the country (World Federation of Diaspora of BiH).
Business owners shared a range of experiences about starting a business in Bosnia. While some mentioned difficulties with the duration of the integration process, high income taxes, lack of digitalization, and the lengthy legal processes, others claimed they faced few or no significant challenges.
Suad Ganibegović, founder of Cemedic, an orthotics and prosthetics provider in Zenica and the rest of the country, notes that his decision to return to Bosnia was influenced by emotional and cultural factors. He made it clear that financial considerations were not behind the move and emphasized that “Only a person for whom money is not the top priority can return from Germany to Bosnia.”
In combination with quality of life being a determining factor to open her business in Bosnia, Leyla Mattison, founder of Beyond Agency, a marketing and consulting company in Sarajevo, added that she wanted to “try to do something meaningful in Bosnia” following her successful career abroad in New York City and Paris.
Politics and governing structures are some of the many barriers blocking people from investing in Bosnia, according to Ganibegović. These institutions, he says, “are too focused on the current situation. They’re dealing with what’s happening today and they’re not working on things that will be in 20 years.”
Almira Kelecija, founder of SIAA Energies in Kiseljak, a company focused on clean and renewable energy sources, emphasized the lack of digitalization in Bosnia. Mattison agrees with this, as in many cases, physical stamps were needed for paperwork, which is unnecessary in the countries they come from. This both complicated and lengthened the business creation process.
Along with issues stemming from the fractured structure of the Bosnian administrative apparatus, Mattison also attributed her challenges with starting a business in Bosnia to the current political climate. She explained that the latent corruption within the system gives more to people that are specifically linked to certain parties and doesn’t give anything to people that aren’t politicized.
“As a business owner with no employment in Bosnia, I had to give myself a salary, for example, in France I don’t have to do that, I can choose not to pay myself,” says Mattison. This law places additional financial burdens on new business owners.
The question of what would incentivize other diaspora to return to Bosnia and start a business received differing answers. Ganibegović believes that there needs to be special conditions for aspiring business owners in the diaspora community. “Especially to those who want to produce things in Bosnia and Herzegovina… I would give them land, buildings for free during the first 3 to 5 years.”
Kelecija mentions the benefits that joining the European Union (EU) would hold for Bosnian diaspora by opening the market. Discussing the challenges of exporting products to other European countries, she explains, “You will send a truck that is going to sit at the border for three, four days.” These delays make exporting less likely to pay off. She suggests that the efficiency of trade would improve if BiH entered the EU.
Using the National Geographic publication that boosted Bosnia’s tourism as an example, Mattison pondered the idea of a similar article, but in the Financial Times, highlighting the fiscal advantages of starting a business in BiH. “Work with the media and talk about Bosnia more like a brand, and just really present Bosnia and its opportunities in a way that you would do for a brand, a national brand.”
Despite all the bureaucratic and political challenges, members of the Bosnian diaspora continue to see opportunities for entrepreneurship in their homeland. These efforts highlight resilience and the potential of returnees to move the economy forward. As Mattison stated: “We really elevate the game for what businesses can achieve here and compete on an international level.”
