Ex. Director of BSMEPA Dr. Boyko Takov Discussed with an Initiative Group the Problems Faced by SMEs and Possible Solutions and Initiatives

The SME Promotion Agency is ready to help identify the main problems of the business environment that stifle small and medium-sized companies in Bulgaria as well as to be a partner in the search for possible solutions and the implementation of initiatives in support of their activities. This was stated by the Executive Director of BSMEPA Dr. Boyko Takov during a meeting with an initiative group representing the interests of small and medium-sized businesses.

Business representatives have requested support from the BSMEPA Executive Director for initiating legislative changes that will reduce the risk for small and medium-sized businesses and ease their business.

Valentin Chavdarski, Engineer at RI SOF Ltd, emphasized the importance of small and medium-sized enterprises for the economy and for employment in the country. He emphasized the absence of a bankruptcy law, which creates a risky environment for the existence and activity of small businesses. Mr. Chavdarski considers it necessary to change the Public Procurement Act in order not to stimulate the consolidation, as is the practice now, but to stimulate the fragmentation of the activities in big orders so that they can access them and the small companies.

Lawyer Vladislav Yanev of the Sofia Bar Association pointed out the necessity of legislative changes - both in connection with the bankruptcy of natural and legal persons, as well as in the Commercial Law, raising the threshold for the registered capital as a guarantee for carrying out activity. Because at the moment the possibility to register a company with 5 leva capital legalizes the possibility of abuse, said Yanev attorney. In his view, it is also necessary to change in the regimes for employment contracts, and the requirement of...