11.11.2021
HOW TO APPLY FOR NEW HEATING ASSISTANCE
The Social Assistance Agency has launched a campaign to provide a one-time financial support for heating of BGN 300 to people and families from vulnerable groups to overcome the consequences of rising fuel prices and the epidemic.
The new aid was introduced by the caretaker government on November 4, and the budget of the Ministry of Labor and Social Policy provides BGN 15 million for its payment. It is expected to support about 50,000 families in difficulty during the upcoming winter season.
The right to receive it have people and families who have been denied targeted heating assistance for the upcoming winter season due to exceeding the defined differentiated income by up to BGN 30 or due to failure to meet the requirement for 6-month mandatory registration as unemployed, which, however is active as of November 1. These people do not need to re-apply to the Social Assistance Directorates to receive the assistance. It will be provided to them under a simplified procedure and as soon as possible after an official verification of the data.
People who meet the criteria but have not submitted their documents within the deadline for submitting applications for heating aid, which expired on 31 October 2021, can also count on this support. They must submit an application-declaration to the directorate "Social assistance”at the current address no later than November 23, in which to declare their income for 6 consecutive months in the period April 1 to September 30, 2021.
The sample application is published on the website of the Social Assistance Agency, under the heading "Social assistance", under the heading "One-time financial support for heating".
Due to the complicated epidemic situation in the country, it is recommended that people do not personally visit the receptions of the Social Assistance Directorates, but send applications through a licensed postal operator, electronically through the Secure Electronic Service System or e-mail to the Social Assistance Directorate. You can get more information here.
The aid will be paid once in December 2021, according to the way chosen by the people - by personal bank account or through "Bulgarian Posts" EAD. In case someone is not able to personally receive their help at the post office, this can be done by a relative/familiar with a notarized power of attorney. In order to ensure the maximum receipt of one-time financial support, it is recommended that it be transferred by bank transfer.
The funds for one-time financial support not received in December 2021 are reimbursed to the state budget. The Social Assistance Agency will inform in due time about the period of payment of the one-time financial support in the post offices in the country.
10.11.2021
HOW WILL THEY COMPENSATE THE SALARIES OF THOSE AFFECTED BY THE CRISIS
The European Commission has approved a Bulgarian wage compensation scheme of 51m euros (100m levs) to support companies and the self-employed working in sectors particularly affected by the coronavirus pandemic and the restrictive measures the Bulgarian government had to apply to limit the spread of the virus.
The measure was approved under the Temporary State Aid Framework.
Under the scheme, the aid will take the form of compensation, which partially covers the loss of income of employees and the self-employed at 75% of their social security income. Public support aims to avoid redundancies and to help beneficiaries resume operations.
The Commission found that the Bulgarian scheme met the conditions set out in the Temporary Framework. In particular, 1) public support will help businesses that are particularly affected by the coronavirus pandemic and aim to avoid redundancies; 2) the monthly salary compensation shall not exceed 80% of the gross monthly salary of the staff benefiting from the benefits or of the income of the self-employed; and (3) the aid will be granted before 31 December 2021.
The Commission concludes that the measure is necessary, appropriate and proportionate to address the serious difficulties in the economy of a Member State in accordance with Article 107 (3) (b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure in accordance with EU state aid rules.
10.11.2021
WHO ARE THE MOST SOUGHT AFTER STAFF ON THE LABOR MARKET IN BULGARIA
Doctors and builders are among the most sought-after specialists in the labor market at the moment. This established a survey of BTA correspondents in the country.
There is a shortage of doctors, builders, craftsmen and representatives of creative professions in both the public and private sectors in Smolyan district, according to the data of the Regional Employment Commission. There is a shortage of both general practitioners and hospital medics in the area. There is a serious deficit in the construction industry - for builders, mechanics, excavators, drivers, said Vladimir Kehayov, chairman of the BCC - Smolyan.
Among the most sought-after professions currently in the Silistra region are doctors, nurses, X-ray and medical laboratory technicians, according to data from the Regional Employment Service in Ruse. There are also vacancies for nurses and nurses.
As a more specific and seasonal city in Burgas after the end of the tourist season construction begins in full force, which implies the search for welders, installers, mechanics, technical staff, fitters, people for all ancillary activities that serve construction and repairs, told BTA Margarita Ivanova, manager of a local labor exchange. According to her, among the sought-after graduates are electrical engineers, mechanical engineers, associates in production and technical departments, but with at least five years of experience.
For years, health facilities in Razgrad district have been experiencing a shortage of medical staff, especially specialists and nurses, said Svetlin Simeonov, director of the district administration, citing data from directors of territorial structures and heads of companies and enterprises. According to him, there is a shortage of skilled labor in the manufacturing sector, where there are many vacancies for welders, locksmiths, millers, machine operators, mechanics, electrical engineers and mechanical engineers.
Teachers and construction workers are among the most sought-after professions in the Lovech region, according to the Regional Employment Service Directorate in Lovech. We are also looking for operators of stationary machines and equipment, workers for waste collection, in the mining and processing industry, economic and administrative specialists, medical specialists.
The hunger for medical staff in Pernik is also great. "As many nurses as they come, we will take them," said the management of the largest health institution, Rahila Angelova Hospital, which is making great efforts to attract young doctors. Due to the proximity to Sofia, one third of the residents of Pernik and Radomir travel daily and work in the capital, which sucks out the younger and better staff, commented the two municipalities. Among the most sought-after professions in the area are also waiters, bartenders, salesmen, and among the graduates - and accountants.
In Sliven district the lack of doctors is the most painful, said the regional governor Mincho Afuzov. According to him, in the current covid crisis, many doctors are forced to work with covid patients at the expense of their specialties. According to him, the district also lacks drivers, locksmiths, the so-called craftsmen, personnel for agriculture.
Since the beginning of the year, no candidate has appeared on our announcement for 12 "hygienists", commented Prof. Yovcho Yovchev, director of the University Hospital in Stara Zagora. The situation is similar with nurses.
For another year in the Stara Zagora region there is a shortage of teachers - in mathematics, chemistry, physics and biology, as well as engineers to teach in vocational high schools, explained Tatiana Dimitrova, director of the Regional Inspectorate of Education. The local Labor Office also informs about the search for sellers, cooks and tailors.
In the field of construction in Kyustendil are traditionally looking for builders, masons, concrete workers, according to the data of the two directorates "Labor Office" in Kyustendil region. We are also looking for workers in the clothing and footwear industry, machine operators, locksmiths, turners and electric welders, and from the graduates - teachers, engineers, doctors and nurses.
A clothing operator, a welder, a machine operator, a locksmith and an assistant to a dentist are the five most sought-after professions in the Ruse region, according to a study on the labor needs of the Employment Agency. The Rector of the University of Ruse, Academician Hristo Beloev, commented for BTA that mechanical engineers are among the most sought after staff, and students from the engineering specialties in agriculture and transport specialties of the university find a good realization.
The professions related to the machine-building industry developed in the Haskovo region are the most sought after on the labor market, said Lilyana Kiryakova, head of the Mediation Services Department at the local Labor Office. There are also no locksmiths, turners, welders, electricians. According to her, the crisis has probably created a shortage of senior medical staff in the area, and it is difficult to find seamstresses.
The most difficult to find in Yambol are personnel for industry, agriculture, construction, restaurant and hotel industry, said the chairman of the Yambol Chamber of Commerce and Industry Stoycho Stoychev. According to him, construction companies are already discussing the import of labor from abroad, which, however, is difficult due to the complex requirements and procedures in our country.
There is a critical shortage of doctors, nurses, midwives, clinical and X-ray technicians, paramedics and rehabilitators in the public sector, said Tsvetka Boycheva, regional chairwoman of the Bulgarian Association of Healthcare Professionals. Of the 520 health professionals in the region, only 20 percent are under the age of 50.
Doctors are looking for all medical institutions on the territory in Blagoevgrad district, said the director of the Multi-profile Hospital for Active Treatment in Blagoevgrad Dr. Ognyan Mitev. The Southwestern University "Neofit Rilski" in Blagoevgrad reports a greatly increased interest in the specialties prepared by nurses and the places are filled the fastest by the candidate students, said the vice-rector of the university Assoc. Prof. Itska Derizhan. Before the beginning of the winter tourist season in Blagoevgrad district, workers in the field of tourism are being sought, the Regional Employment Service Directorate announced.
A doctor, a nurse and a healthcare specialist are the most sought-after professions now and for the next 12 months by employers in the Vidin region, requiring higher education, commented Ivan Ivanov, director of the Vidin Labor Office Directorate. Accountants and teachers are also wanted, according to the data of the three directorates "Labor Office" in Vidin region. Seamstresses, truck and bus drivers, shop workers, vendors and hygienists can also find realization in the area.
In Targovishte district in terms of the needs for qualified specialists, the ranking is led by "Pedagogical Specialists" and "Doctor", followed by "Driver International Transport", "ICT Specialist", "Civil Engineer", "Chemical Engineer", "Medical sister", announced by the District Administration. Over the next 12 months, employers will need tailors, workers in the food industry, builders and machine operators.
In Kardzhali for another week out of 40 announced positions for graduates, 17 are for medics. The local labor office explained that these were unoccupied medical practices. Tailors, ironers and machine operators in the textile industry are other sought-after staff in the region.
The Pleven region is mainly looking for tailors, builders, fitters, social assistants, said Zdravko Dafinov, acting Director of the Directorate "Labor Office" - Pleven. According to the study of labor needs, prepared by the Regional Employment Council, in the next 12 months the most sought after will be tailors, builders, workers in the food industry, doctors, teachers and nurses.
According to the latest data, specialists with higher education are being sought in the Plovdiv region - nurses, teachers, electronics and automation engineers, said Fani Nikolova, director of the Regional Employment Service - Plovdiv.
The most serious shortage of specialists in the Shumen region is in the field of healthcare. The Deputy Mayor for Social Policy and Healthcare of Shumen Municipality Dr. Svetlana Markova told a BTA reporter that a significant part of the graduates in the Shumen branch of the Medical University in Varna remain working in the regional city and probably due to the increased interest in such specialists , do not fall into the statistics of the local Labor Office.
Businesses in the Veliko Tarnovo region are looking for industrial workers, drivers and builders, the local Employment Directorate said. In Veliko Tarnovo, construction has grown by nearly 13 percent over the past year and the "hunger" for staff is high, said the chairman of the Regional Construction Chamber Ina Mincheva-Kardzhilova. According to her, the number of construction companies that are constantly looking for workers from other areas has also increased.
In the Gabrovo region there is a shortage of electricians, welders, fitters, all kinds of personnel for mechanical engineering, as well as firefighters, said Daniela Marinova, director of the regional directorate "Labor Bureau".
There is a shortage of educators, teachers, engineers, installers, firefighters, and truck drivers in the Varna region, the Regional Employment Service Directorate in the seaside town said. At the beginning of autumn, the most vacancies were announced in the fields of trade, education, manufacturing and tourism. We are looking for sales consultants, insurance agents, general workers, cooks for fast food restaurants.
In the last few months in Montana, the most sought-after occupations are teachers, tailors and seasonal workers, the Montana Regional Employment Service said.
Engineers and personnel for education and the processing industry are most in demand on the labor market in Vratsa region, according to the data of the "Labor Bureau" directorate in Vratsa.
08.11.2021
TECHNIQUES FOR SUCCESS: WHAT COMMON FINANCIAL MISTAKES COST US DEARLY
Do you spend more money than you earn? Poor budgeting in the long run is a sure formula for financial problems. Many people resort to loans and credit cards to offset their high costs.
As interest accrues, these debts become larger and more difficult to repay. Instead of borrowing, make saving a habit and take the time to develop a sound financial plan.
To avoid overspending, start monitoring the rapidly accumulating small costs, then move on to monitoring large expenditures. Always think carefully before adding new obligations to your payroll.
Keep in mind that being able to make a payment does not mean that you can afford the purchase. Once you learn which financial mistakes to avoid, your wallet will never be empty again.
Excessive and reckless spending
Even if you have a fortune, you can lose it lev by lev. Cappuccino on the way to work, dinner at a restaurant, a visit to the cinema, a spa weekend - if you spend a little, but often for your every desire, then at the end of the month you may run out of money. Of course, this does not mean depriving yourself of these small pleasures, but diluting them within reasonable limits. Especially if you are repaying a loan, every small amount saved is important.
Buying an expensive car
Millions of new cars are sold every year, although few buyers can afford to pay for them in cash. When you take out a car loan, you pay interest on a depreciating asset, which increases the difference between the value of the car and the price paid for it. Buying an old car is cheaper, but it can be a double-edged sword if the car has hidden problems and needs expensive repairs.
Hasty purchase of a home
Buying your own home is one of the most important financial decisions you will ever make. That's why it's crucial to know how much you can afford to spend on your new home. A mortgage loan is one of the biggest debts you can take on, and the decision to invest in a home should be made only when you have enough savings and you can pay your monthly installments easily.
Support for unnecessary subscriptions
Ask yourself if you really need all the subscriptions that gradually "eat" your money, month after month. Review all streaming services and discontinue those you don't use often. If you have a gym membership that you rarely visit, cut that cost as well. Consider carefully whether you use each service enough to be worth the cost. Switching to a minimalist lifestyle can significantly increase your savings and protect you from financial difficulties.
Life on loan
Using credit cards to buy basic necessities is now commonplace. But even if more and more people are willing to pay high interest rates on fuel, groceries and other items that are used long before the bill is paid in full, it is not a wise financial decision to do so. Interest rates on credit cards make the price of charged purchases more expensive. There is also the danger of being tempted to spend more than you earn.
Life from salary to salary
For families who live from paycheck to paycheck and have no savings, any unforeseen financial problem can easily turn into a disaster. The cumulative result of overspending puts people in a precarious position. If you need every penny you earn, even a missed salary would be disastrous. That's why it's good to have savings to live with for at least three months. This buffer amount can save you in the event of an economic recession.
Lack of emergency fund
In addition to a savings account in case of job loss, it is good to have a separate emergency fund. For example, if you need to replace a broken household appliance or unforeseen medical expenses. Such costs occur less frequently, but are usually urgent. When you do not have extra money set aside, you are forced to use unprofitable ways to finance your life, such as borrowing from relatives or taking out a loan.
Non-investment in old age
If you don't make your money work for you through a profitable investment (which you understand), you may never be able to stop working. Determine the time for which your investment should grow and what risk you can afford to take. Don't make reckless investments, but don't procrastinate too much, because the right time to invest is while you are still young and full of energy and ideas. Opening a pension account and monthly contributions to it are also essential to ensure a financially secure old age.
Lack of financial plan (budget)
One common mistake is to fail to build a financial plan or budget. Your financial plan is a guide to achieving your financial goals. It is about establishing an investment and savings strategy that will lead you to your goals. Your budget is the way you distribute your income each month. A good budget ensures that you take care of your needs and live within your means, as well as allocate funds to your desires, repay debts and invest in the future.
Big purchases without comparison
Many consumers are loyal to a brand and stick to the habit, even if there are much better deals on the market. Comparing the prices of similar goods and services can save you hundreds of levs a year. Another mistake is to start using more expensive goods and services as soon as you receive a salary increase or additional income. You better save this money and consider a suitable investment in the future.
Reconciliation with low salary
It is a mistake not to try to negotiate a better salary when starting a new job, as well as a salary increase at a later stage. Salary negotiations are essential for two reasons. First, you will receive enough money to cover your basic needs from the beginning. And second, negotiating a salary determines the tone of your relationship with your employer. By agreeing to an amount that is too low, you underestimate your job and encourage your employer to do the same.
Ignoring insurance
It is difficult to think about serious illnesses and life-threatening accidents, but the truth is that you must be prepared to protect yourself and your loved ones in such situations. Taking out life insurance will ensure financial security for your loved ones. It is a good idea to take out additional health insurance for you and your family members. So no unpleasant situation will boil you unprepared.
Giving and taking loans from relatives
One of the common financial traps you should avoid comes from having a "golden heart". Giving loans to friends, especially when you yourself live modestly, is a big mistake that can ruin any friendship. Many people have a habit of borrowing money from relatives for higher expenses to avoid interest on a loan. This usually also has a negative effect on personal relationships and causes conflicts. Therefore, it is best to avoid such loans and turn to official lenders.
Give up all entertainment
In life with a budget plan, there must be room for entertainment. Excluding entertainment from your budget can be a huge mistake, leading to demotivation and even depression. It is good to repay your loans as soon as possible, but you also need money that allows you to enjoy life. Therefore, when preparing your budget plan, make the column "fun" for all hobbies and activities that bring you joy. It is important to determine the monthly amount that gives you a balance between financial responsibility and a full life.
Neglect of family goals
When you share a household, it is natural to share your financial life with your partner. Sometimes, however, the topic of money is taboo or people simply forget to discuss it amid the hustle and bustle of everyday life. Without frequent conversations about goals and a budget to help you achieve those goals, costs can go awry and progress can slow down. If you discuss finances regularly, you will be able to identify potential budget problems before they ruin your dreams. Don't forget to save for family vacations as well as for your children's future education.
05.11.2021
WHAT KIND OF EMPLOYEES ARE COMPANIES LOOKING FOR
In October we saw a decline in published job postings. Their number is almost 44,000 and has decreased by 8.4% compared to September, and on an annual basis it is still 55% more than in October 2020, according to the monthly analysis of the dynamics of the labor market in our country, prepared from an HR company.
The IT sector remains the most stable. Despite a slight decline in supply in September, in October we again saw growth of 6% in this sector. In addition, the only sector in which we also see an increase in proposals is "Accounting, Auditing, Finance", with ad growth of 1.4%.
In all other sectors the number of job postings in October decreased as follows: "Marketing and advertising" (-2.8%), "Administrative and service activities" (-3%), "Production" (-7%), "Construction " (-9%),"Trade and sales" (-13%),"Health and pharmacy" (-15%),"Logistics and transport" (-15%) and "Hotels and restaurants" (-28%).
Share distribution of job postings by sectors
The Trade and Sales sector continues to be in first place in terms of the share of new job postings - by 21%. The IT sector is increasingly confident in holding the second position, increasing its share from 16% to 18%, and in third place remains "Manufacturing" by 15%. Followed by the sectors "Administrative and service activities" (10%), "Hotels and restaurants" (9.2%), "Logistics and transport" (8.9%), "Construction" (5%), "Accounting, auditing, Finance”(4.4%), Health and Pharmacy (3.7%), Marketing and Advertising (3%) and Art (1%).
Work from home
There is still an increase in offers for work from home and/or telecommuting. In October, they increased by 7%, and for the last four months this growth is as much as 29%. The share of this type of job postings in October was 13.5%.
The green certificate appears as a requirement
For a number of positions, there is a tendency to require applicants to have a so-called green certificate certifying a completed cycle of vaccination against COVID-19 or its disease. Currently, the number of job postings with such requirements is very small (only 0.2% of the total), but, like other countries, it is possible that it is growing due to the still high morbidity and the need to provide safe working conditions. For the time being, the predominant job postings with such a requirement are in the sectors "Hotels and restaurants" and "Service activities".
Offering by cities
The share of job postings in the leading regional cities already represents three quarters of the total number of ads in the country. Almost half of the proposals for new jobs in Bulgaria are concentrated in Sofia (49%), and for the other cities the figures are as follows: Plovdiv (10%), Varna (8%), Burgas (3.2%), Ruse 3%) and Stara Zagora (2%).
04.11.2021
WHAT TO DO WITH LOANS IN THE FACE OF RISING INFLATION
There are many people who spend unreasonably on goods and services that are far from being essential. They live on the principle of "salary to salary" and do not see the point in saving to be more sustainable in a time of inflation and rising prices. And while it is true that money is losing some of its value, the phenomenon is temporary and now is the time to be more careful about our purchases." This was explained by Rayna Mitkova, chairwoman of the Receivables Management Association (RMA).
She advises consumers to always set aside a buffer amount sufficient to cover their costs for at least the next 3 months. However, in conditions of rising inflation, the funds set aside should be sufficient even for 6-9 months.
"In order to be confident that we will be able to meet our needs even in case of unplanned difficulties, it is important to have savings with which we can live for half a year. If we are not in good financial health, we need to realize what is really important and deprive ourselves of a trip or new appliances, for example. Instead, we could set aside for basic necessities, whose prices are currently rising sharply - electricity, heating and fuel, food, household goods, other basic services we use. "Failure to pay the loan installments can also only make them more expensive," Mitkova added.
According to RMA observations, in addition to teleworking, the cost of computers and peripherals has also increased. The changes related to the pandemic are also a reason for some consumers to invest in repairs and furniture, as well as in the renovation of household appliances.
The number of non-performing loans in Bulgaria since the beginning of the year remains similar compared to 2020 and even slightly decreases. The general levels of payment for consumers are also relatively stable, according to data from the association.
This, against the background of the unstable economic situation and negative forecasts, paints a seemingly optimistic picture. According to experts, however, it is only apparent.
"We are seeing an increased risk of people between the ages of 40 and 50, who are traditionally the most conscientious payers. These people have more sustainable incomes, often take care of both their children and elderly relatives, have the most responsible behavior and they are accepted as the backbone of the economy. However, it is with them that the first signals of difficulties in covering the monthly installments are felt," said Rayna Mitkova.
According to RMA data, changes in people between the ages of 40 and 50 do not affect overall pay levels, as at this stage the decline is offset by other age groups. But the phenomenon is indicative of what is happening in our country at the moment.
"It is not yet possible to identify clear reasons for the fluctuations in the most resilient group. Most of these consumers actually have the opportunity to cover their contributions, but forecasts of an increasingly complex economic situation and a difficult winter make them limit their costs. however, the budget should not exclude the coverage of loan installments. Failure to repay will have the exact opposite effect on financial stability," said Rayna Mitkova.
The pandemic stands out as a major factor in the reasons for non-payment given by consumers. Over 20% of all customers cite COVID and the economic consequences as a reason for delaying their contributions. Difficulties include reduced wages or redundancies due to pandemic conditions, limited access to a cash register or bank as a result of illness or quarantine.
In the big cities the payment is higher compared to the smaller settlements, the data of the RMA also show. Burgas, Stara Zagora and Blagoevgrad report improvement of this indicator on an annual basis. At the same time, in Ruse, Veliko Tarnovo and Vratsa there is a greater difficulty in repaying the installments compared to 2020. The Association expects that this trend will continue, as traditionally poorer regions are the first to suffer from negative changes in the macro environment.
"The long-term forecast of when the economy will take off is extremely difficult at the moment. However, the short-term forecast is clear - a difficult winter is coming and maintaining financial stability - from the general to that of each household, depends a lot on consumer behavior and discipline. Revision of budgets and proper allocation of funds will be key to our sustainability during the challenging period," Mitkova added.
04.11.2021
THEY APPROVED THE FINANCIAL SUPPORT FOR HEATING OF BGN 300 ONE-TIME
"The Council of Ministers adopted a decree providing additional financial assistance to individuals and families who do not meet the conditions for energy assistance under the Energy Assistance Program."
This was said at a briefing after a meeting of the Council of Ministers by the Minister of Labor and Social Policy Galab Donev.
"We are expanding the circle of those persons who by up to BGN 30 exceed the threshold of the required minimum for applying for monthly aid for energy support during the autumn-winter season. We are also expanding the circle for persons who are registered in the labor offices less than 6 months, to be able to receive this targeted financial support of BGN 300 once for the upcoming heating season," he said.
According to him, such assistance will be provided to all people with disabilities who have more than 50% disability, single elderly people, single mothers and all risk groups. For this purpose, BGN 15 million have been allocated from the budget.
04.11.2021
BULGARIA IS ALREADY A MEMBER OF ALL ORGANIZATIONS IN THE WORLD BANK GROUP
The Minister of Finance Valeri Belchev signed the Memorandum of Association of the International Development Association, with which our country became the 174th member of the IDA.
The ceremony took place in the office of the Permanent Representation of the World Bank Group in Bulgaria, which was attended by the Permanent Representative of the institution Fabrizio Zarcone and the Deputy Minister of Finance Monica Dimitrova-Beecher.
"I am honored to sign the IDA Memorandum of Association, which opens a new chapter in our partnership with the World Bank. Today's event is a good example of our strong cooperation with the Bank. I am glad that Bulgaria is already a full member of all organizations of the World Bank Group," said Minister Belchev during the ceremony.
He expressed gratitude to the management team of the institution for the expertise provided in support of the sustainable development of our country. Akihiko Nishio, WB Vice President for Development Finance, who heads IDA, Anna Bierde, Vice President for Europe and Central Asia, Kuun Davidze, Executive Director representing Bulgaria on the WB Group Board of Directors and Deriatu Guy, vice president and corporate secretary, joined the event via video conference. Kuhn Davidze welcomed the Minister of Finance to the IDA and added:
"We are proud and appreciate that Bulgaria has succeeded in making this great transformation and progress."
The signing of the Memorandum of Association is the last step for finalizing the procedure for membership of our country in IDA. The Minister of Finance and Governor for the Republic of Bulgaria in the organizations of the World Bank Group is authorized by a decision of the Council of Ministers to sign the original copy of the Memorandum of Association of the IDA on behalf of the Bulgarian government.
The IDA was established in 1960 and complements the work of the International Bank for Reconstruction and Development by assisting the poorest countries by providing loans on a subsidiary basis, grants and technical assistance, and is also committed to debt relief through various initiatives. IDA subscriptions and contributions are reported as official development assistance.
The World Bank Group includes five institutions: the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency, and the International Center for the Settlement of Investment Disputes.
This form of ceremony is being organized for the first time and despite the challenge, its successful implementation marks the beginning of a new approach, which remains in history as unique and the only one so far to sign such an agreement.
03.11.2021
ENTREPRENEURSHIP: FIVE CUSTOMER RETENTION TACTICS THAT WILL PAY OFF FOR YOU
Finding a new customer costs five times more than keeping an existing one. That's why customer retention tactics are so important.
One of the biggest challenges for small businesses is building a customer base. Once your business has a sea of customers, it is essential to get them to keep buying from you, writes the online edition business.com.
Today, customers have more power than ever - the power of choice. With so many options available, your valued customers will easily switch to your competitor's product or service. A study by Bain & Company found that "a customer is four times more likely to turn to a competitor if the problem is with a service than with a price or product."
However, service is not the only variable. If your business is targeted at millennials, for example, 60% of them will regularly change their brand preferences to save money.
The online edition summarizes five ways to keep your hard-earned customers.
Maintain a high quality of service
Make sure all your employees are on the same page when it comes to how they treat customers. Every point of contact with customers must be of high quality - be thorough, answer questions and listen. Communication makes everything easier.
If you want loyal customers, focus on the big picture - the overall customer experience.
Express gratitude
Expressing gratitude has a big impact on how customers perceive the quality of your service and boosts loyalty in return. Customers want to feel valued and in turn appreciate that.
A great way to show your customers that you are grateful is an email thanking them for a recent purchase, a handwritten thank you card every year around the holidays, a monthly offer with special discounts, free shipping, and more.
Dissatisfied customers share their experiences with 20 or more people, while satisfied customers tend to tell only a few of their loved ones. A way to avoid negativity and opponents is to set realistic expectations from the beginning.
Add a personal touch
Think of ways you can make your client feel special. Someone with young children can appreciate the help in transferring purchases to the car. Another customer may appreciate the help while shopping for a birthday gift for their life partner.
Take the time to add a personal touch when interacting with customers. This shows that you care and strengthens your position as the number one choice in the minds of your customers.
Speed does not always guarantee quality
When it comes to customer service, what makes them come back to you is that quality takes precedence over speed. A Gallup Group study says that customers are nine times more likely to engage with a brand whose service they have experienced and it has proven to be useful.
Those who bet only on speed get less loyal customers.
Offer loyalty programs
The key to creating working loyalty programs is to understand why customers use them and what drives customers to keep using them. First, be sure to integrate loyalty into the full experience. Customers want to make things simple and enjoyable for them and make the experience enjoyable over and over again.
Customer retention is a vital part of your business success, along with the ability to adapt and change along with your customers' needs. With each new program you implement, be sure to keep track of whether it works or not. There is no point in starting a new campaign if you are not monitoring its progress.
03.11.2021
TRANSFER OF WORK, DOCUMENTS AND ITEMS WHEN LEAVING WORK. RECEIPT OF DOCUMENTS WHEN LEAVING A JOB.
Necessary steps to take when leaving work:
We advise you not to store anything in person on your office computer, but if you still have your information on it and the company's policy allows you to download or send information, download the personal information to your USB or send it to your personal email.
Don't forget to clear the contacts in your business phone, as well as delete the settings of your social network accounts, photos, videos, emails and SMS from the computer and the business phone.
Upon leaving, you will have to return the property of the company you use - business phone, car, computer, tablet or other, for which you will have to sign handover protocols. The company should provide them.
If you have signed such protocols at the beginning of the work, but they do not provide them to you when you leave - request them. It doesn't happen often, but it's a good idea to insure yourself if they decide that if you don't have a signed document, you haven't returned your phone, for example, and ask you to pay for it.
If you are a materially responsible person, you should report and return all cash and goods to you - business advance, debts from customers, goods.
You may even be in a position for which a revision or inventory needs to be made.
Your line manager or accountant should organize this process and accept everything.
Lastly, they may ask you to fill out a so-called detour sheet, in which you can collect signatures from the departments related to your position, certifying that they have done the work related to your release.
For different companies and positions, these departments are different, but in general these are:
Accounting - in terms of documents and money
Direct manager - in terms of acceptance of inventory
Information technology - in connection with the suspension of your access to a business computer, business email and information system
Human resources - for conducting an outgoing interview, returning powers of attorney, receiving documents, etc.
WHAT DOCUMENTS SHOULD YOU RECEIVE WHEN LEAVING
Your completed employment record book must have the signatures of the manager of the company and the chief accountant.
It should also bear a stamp stating your length of service with that employer in years, months and days (or simply written), and a sentence stating whether your work experience is equal to your insurance experience.
Example
If you are employed full-time - 8 hours, then your insurance experience is equal to your work experience.
However, if you are employed on a 4-hour working day, then your length of service is not equal to the insurance period. If in this case your work experience is, for example, 24 months, then your insurance experience will be half - 12 months.
You need the UP-2 and UP-3 certificates when you retire and to certify additional work, if you have done so.
From 01.01.2018 the employer has an obligation to issue you these certificates at your request only for periods before 2000 (Art. 5, para. 7 of the Social Security Code and item 3 of Decision № 411 of 2016 of the Council of Ministers, legal measure 62).
For length of service after 2000, employers are not obliged to issue UP-2 and UP-3, as these data are already in the electronic register of the NSSI.
You need it, if you start working for the next employer in the same year in which your contract was terminated, to equalize income tax.
Ask for your documents to be ready and receive them on your last working day. If they don't, here's what the law says:
The employer is obliged to provide you with the documents for termination of your contract on your last working day - notice, order, employment record book.
The employment record book can be delayed up to 5 working days. The employer then owes insurance for the days of delay.
The other documents (the official note and the certificates UP-2 and UP-3) are issued within 14 days from their request.
If they don't give you all the documents right away, you'll have to go there again when they're ready.
Ask them to hurry, however, because you have a deadline to register with the Labor Office.
WHAT SHOULD I TELL MY BOSS WHEN LEAVING A JOB?
It's about this awkward conversation with your boss, in which he asks you why you decided to leave.
It may happen at the time of your application to leave or on any of the following days.
Be brief and well-meaning, no matter what your vision of the company or its qualities as a leader. This will avoid any future problems with your release.
Share with him your desire for your future development, rather than the problems in the company that led you to this decision.
EXAMPLE
I am grateful for everything I received here, but after… years of working together, I would like to continue my development in another branch/other field, with more opportunities for professional development and growth.
Is it possible to receive a counter-offer for a job during this conversation and whether to accept it?
In any case, ask for time to think about the counter-offer from your current employer. And try to answer the following questions:
Would you have received this salary increase, this new position or these benefits if you had not decided to leave and had just continued to do your job conscientiously?
What is the guarantee that the company will magically change and you will already be happy with it?
Do not tell your new employer that you are considering a counter-job offer from the current one. Only let him know if you decide not to leave and not to start working with him.
HOW SHOULD I SAY WITH MY COLLEAGUES WHEN LEAVING?
Send an e-mail to colleagues.
Send a short e-mail to your colleagues to let them know that you are no longer an employee of the company. Thank them for their time together and wish them success. Leave a personal email and phone number to contact you if you wish.
Whether you like everyone or not, show them how to leave with dignity and be polite. The world is small, you will probably meet some of them in the future, so keep a good tone.
Do the same to the employer if you wish.
