Business support - Bulgaria
The key laws covering support for business are the:
Help for businesses
There are a range of non-governmental organisations that can provide specialists in various sectors, who can advise local and international businesses. They have experts who can help foreign companies deal with institutions whenever there are language barriers and with drafting documents in Cyrillic.
Non-governmental organisations in Bulgaria have been set up to help businesses offer a range of services. Some services (such as advice) are free, while others require payment.
The Bulgarian Development Bank, set up by the government, offers consultation and advice for businesses, as well as access to programmes for gaining various types of credit, in collaboration with its international partners.
The Ministry of Labour and Social Policy provides statistics on employment levels in Bulgaria, releases information on the legal requirements for work contracts, and provides details about the labour market and funding programmes.
There are also government mechanisms set up to provide assistance to SMEs, which constitute the majority of the businesses operating in Bulgaria. The body set up to support businesses by providing consultation and access to information on obtaining credit, as well as other services, is the Bulgarian Small and Medium Sized Enterprises Promotion Agency.
This agency provides financial assistance to small enterprises wishing to take part in international fairs. The Agency's website has a full list of upcoming trade fairs. In addition, the agency regularly organises training programmes in entrepreneurial skills, business management and other areas. The agency also organises business forums and provides information on how to get in touch with trade missions and other business enterprises.
The InvestBulgaria Agency offers information on all laws related to investment in Bulgaria, as well as taxation and administrative procedures. The agency also provides access to a full list of industrial zones in Bulgaria, where companies may, under particular circumstances, make use of administrative support and tax concessions.
Access to finance is crucial for setting up and running a business.
Check also the legislation on this topic in: