Standard Prva: Rebranding was result of business growth as also a part of strategic vision of the company.

Standard Prva is a business group under which several companies operate in form of partnership. First, Stevanović law office which is a partner within Standard Prva, then Standard Accounting Services a company whose expertise is bookkeeping and tax representation, then Standard Freelance, which is a special segment of the group that deals exclusively with freelancers and modern technologies, and diversifies activities related primarily to real estate investments. Also, our United Development operate a portfolio of several real estate units of higher value. We believe our companies create shared value: for our owners, workers and what is most important for the community we live. ESG standard rules are also being implemented and this spirit can be felt within the company.

Why did you decide on rebranding to 'Standard Prva'? What are the key reasons and goals behind this decision?

Standard Prva is one of the fastest growing groups in Bosnia and Herzegovina, in terms of helping businesses and providing them a safe framework through which they can operate, firstly through the legal issues, then accounting issues and other connected issues for the business services.

When talking about rebranding of our corporation this came as a normal conclusion since that we have been using Standard Računovodstvene usluge as a name for a very long time, and we felt that during everyday communication with our clients it was required that we need to change a name to something which is going to be more business friendly. At the same time,  clients knows us as a Standard brand so this made sense very much. Our visual identity angel represents an easy spirit full of joy. 

What is going to be the main strategic vision of your rebranding group?

When we are talking about strategic decisions regarding the brand itself, I would say that we are focusing and strongly positioning ourselves in terms of being a service to the small, medium, and large enterprises in Bosnia and Herzegovina. Particularly we want to be a service for the companies which is going to give them an ample opportunities where their businesses could feel safe they could have on one hand a lawyer, they could have on another hand an accountant, also they could use software solution which is going to do not only a classical accounting reporting, but also to give the owners of the business and users of the software a very good overall review of their business operations. Also, we wanted to show that there is a group of very open-minded and clever people who can make such software in an environment and legal framework which is not even close to the western countries. We gave our software name a Perun - an old Slovenian God.

What business trends do you anticipate for the next year, and how do you expect them to influence the growth of Standard Prva?

When we are talking about business trends, I can say that AI is one of the most important which one we are very carefully listening to. Recently, at Nov 2, there was a meeting in London in Bletchely Park which was organized by the British government where the representatives of the large IT companies give their views in relation to the AI. Also, we are aligned with this approach which we have heard from London that AI needs to be more regulated because of the obviously the lack of control and that could jeopardize the normal business way of thinking at the same time we feel very much strong about that keeping the peoples jobs is also required and that AI should not remove and therefore be doing the business instead of people.

What are the midterm goals of Standard Prva group?

The Groups midterm goals are focused primarily on our clients. We believe that Bosnia and Herzegovina and the region represent great potential, given that we are classic fast-growing market with high demand for services and goods. We notice fluctuations in certain market phenomena (unusual trends regarding downturn in real estate demands, prices that are still at the same level, etc), but what encourages is the increasing number of IT companies, the creation of new value among start-up companies and many other good trends. And there are more and more private equity funds and individuals willing to support from the seed stage the foundation of the companies.

Are there any new sectors you’re thinking of expanding on?

Our expansion plans envisage that we remain firm in our current positions (advocacy, accounting, software, and real estate), with the plan to build a corporate administrative building soon that will be a gathering place for the business community and provide to local society some very interesting cultural events. One of the largest deals we made this year was buying of the distressed debt of Investment Bank of Republica Srpska. Our balance sheet will be fortress solid by the end of this year with more than 180 mil KM in new assets added.

What are the plans for the development of the accounting software?

Project Perun, an accounting software, is the one which were are implementing currently heavily. That is accounting software and a very modern platform which is not only intendent for accounting but also for everyday business purposes. Right now, we are in the migration phase of all our clients base to this software.

What are your business expectations for next year ?

The year ahead is not going to give various opportunities only on the worldwide level, but also on a micro level including our company. From my point of view, we are expecting happy and successful year. Regarding the region, I must say that this region, i.e. all the countries of the Balkans and Adria region as the emerging markets have a very bright light  I would say and definitely these places are the best places to do a business currently in Europe however there are risks which needs to be mitigated and on the other hand there are so big potentials that we can all benefit on.