Despite the importance of entrepreneurship for overall economic development in Bužim municipality, this very important segment is not paid necessary attention to, which reflects in the lack of stimulating measures, problems with crediting of financing, the issues of sufficient number of business objects in the local communities, the presence of gray market, and the lack of adequate programs for stimulation of small firms, at the municipal level. As one of the basic goals is development of efficient and open economy, and in order to be fully oriented towards the development of small enterprises, the cantons must have more influence on providing a broad range of programs for development of entrepreneurship, which can be attained by bigger financial investments in economy, stimulation of entrepreneurship development, creation of stimulating conditions and mechanisms for improvement of both small and medium enterprises.