Business Culture
Author
Nina Evason,
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Meetings
- Arrive on time or slightly early. It is possible that your Bosnian counterpart may be late; however, your own punctuality will give a good impression.
- Be sure to use people’s appropriate titles when greeting them.
- Allow time for some social discussion to pass before turning the conversation to business. It’s important to allow people the time to familiarise themselves with everyone present.
- Refreshments are usually served at the beginning of the meeting (e.g. coffee or juice). It’s best to use this as an indicator of when it is polite to start speaking about the matter at hand more seriously.
Considerations
- Bosnian businesses generally collaborate throughout the chain of command to generate ideas. However, the decision-making power usually lies with the highest manager.
- Bosnians are exceptionally generous. If your counterpart takes the initiative to surpass what was expected on their end of the deal, take it as a sign that they respect the business relationship. Furthermore, expect that people whom you have a close and personal relationship with may expect favours to be performed on their behalf.
- Low employment levels and a rapidly aging population continue to challenge the development of Bosnia’s labour market. In 2022, the employment rate for individuals aged 15-64 stood at just 44.7%, with significant disparities between men (55%) and women (35%).1 The country has one of the lowest female employment and labour force participation rates in the Balkans.
- Bosnia’s unemployment rate has dropped significantly over the past decade–from 27.5% in 2014 to 13.5% in 2024.2 In the fourth quarter of 2023, the unemployment rate reached a historic low of 12.7%.2 Despite this progress, unemployment remains a critical issue, especially among young people. Youth unemployment remains alarmingly high, with 30.4% of Bosnians aged 15-24 unemployed in 2024.3
- The 2023 Corruption Perception Index ranked Bosnia 108th out of 180 countries, receiving a score of 35/100.4 This metric suggests that the country’s public sector is fairly corrupt.