Entrepreneurship in practice
“When I first opened my small veterinary practice in Kalinovik, about an hour’s drive south of Sarajevo, five years ago, little did I know of the important mission that lay ahead and how quickly things would change,” Milan Mihailov smiles, remembering those early days.
By 2012, just two years later, Milan had moved to the capital and begun working closely with the Dogs Trust of Great Britain. “You see, there are so many stray dogs in Sarajevo. Too many, in fact. And they pose both a health risk and in some cases a real danger to the population. The standard approach so far has been to catch them and put them to sleep,” Milan explains. “The Dogs Trust sponsors neutering schemes outside the UK as well, and that’s how I got involved in solving the problem and in helping these dogs find a new home.”
Milan soon needed more space and in 2014 it became time to see a bank. “My advisor at MF Banka asked me all sorts of questions to get a clear picture of the situation. Luckily I also had some savings. The solution was to purchase larger premises, which would also enable me to increase my business with the Dogs Trust as well as provide shelter for dogs before they find a new home.”
That first loan of BAM 40,000, together with his savings of BAM 30,000, enabled Milan to set up a larger practice in a prime location. “My fixed costs are now actually lower than before, when I rented even smaller premises,” Milan beams.