02.07.2021
ENTREPRENEURSHIP: THE MARKETING THAT WILL MAKE YOU LOVE YOU FOR LIFE
Marketing is something that requires research, time and understanding. It requires patience, compassion and empathy. It is about understanding what customers really need and giving it to them in a way that arouses admiration and respect. Use these basics to target your next marketing campaign and see what new doors it opens for your business. Use these three basic marketing basics to target your marketing decisions and create marketing campaigns that turn customers into lifelong fans.
Marketing is about finding and understanding a market in need
Marketing is not advertising. Make sure you understand the market before you spend your money on inappropriate advertising. See where your competitors advertise and how they do it. Find out where your customers spend their time and what their spending habits are. Investigate how they make their purchasing decisions. Use this information to create a real marketing strategy, instead of guessing and wasting your valuable capital on vain assumptions.
Marketing is about communicating with your potential customers
Marketing is a process of communication more than anything. Communication is about understanding the other person's point of view, not telling the other party why you are right. Many companies will accept that marketing is telling their customers exactly why to buy their product or service, but it is more than that. It's about communicating with your customers, asking them what they want. It's about learning how you can serve them better.
Once you find your market, find ways to communicate with them. Show your clients that you care about who they are and how they would like to be treated. Use communication channels to get information about your customers. They are not just potential dollar signs. They are people who deserve to be seen, heard and appreciated. Understand and implement this and you will stand above the crowd of other companies fighting for their attention and money.
Marketing is a learning process
Consumers buy from people and companies they know, like and trust. Just like you, it's hard to trust a stranger on the street trying to sell you anything, so why would you expect to be different?
If you are in the wrong market or miss the time, it is unlikely that your customers will want to buy from you right now. However, you can still educate them on why you may be a better choice next time. Use education to attract your ideal customers closer to a purchase decision. Don't just throw your offer at them every time you have a chance. Spend time training your prospects and let them make new choices once they learn why it's good for them.
Source: Scott Chrisman, CEO of Media House, co-founder of Health Media Group for entrepreneur.com
30.06.2021
FUND OF FUNDS SIGNED WITH UBB FOR BGN 2.5 BILLION
UBB has concluded an agreement with the Fund of Funds for amendments to the Portfolio Guarantee for Overcoming the Consequences of the Covid-19 Pandemic within the framework of the Recovery Program announced by the Government. It aims to provide small and medium-sized businesses with access to a resource of nearly BGN 2.5 billion.
The program will facilitate business access to recovery loans following the phasing out of measures related to the Covid-19 pandemic. Companies will be able to obtain fresh financial resources to meet their current liquidity needs, but also for new investment, transformation and growth. The updated guarantee conditions provide for loans to be granted in a short period of time, with minimal administrative burden and without the need for collateral.
Other advantages for the business include shortened deadlines for obtaining approval and the opportunity to master; possibility to negotiate a 12-month grace period; rescheduling of the payment up to 84 months; clarity of the process and minimization of the administrative burden; financing up to BGN 3 million and up to 70% of the turnover for 2019 or 2020, depending on which year it was higher; accessibility in all branches of the partner banks, which provides excellent coverage throughout the country.
The final recipients are small and medium-sized enterprises (SMEs).
30.06.2021
APPROVED CHANGES TO THE MEASURE "60 TO 40"
Employers will receive funds from the state to maintain the employment of employees until July 31, 2021.
This was decided by the caretaker government by adopting new terms and conditions for obtaining funds to preserve jobs in the economic activities affected by COVID-19.
Funds will continue to be paid to employees who, during the period from 13 March to 31 December 2020, worked part-time, took compulsory leave or had their work suspended due to temporary activity restrictions. They should have been in an employment relationship with the employer before 1 January 2021.
The companies established before June 1, 2019, will be able to receive from the state 60 percent of the insurance income of the workers for April 2021 and of the insurance contributions at the expense of the employer. To be eligible, their sales revenue during the month for which they apply for compensation must have decreased by at least 40% compared to the same month of 2019. In the event that the decline is not less than 30%, the support from the state will be 50 percent of the insurance income for April 2021 and the insurance contributions at the expense of the employer.
Employers established after June 1, 2019 will be entitled to funds of 60 percent of the employees' insurance income for April 2021 and of the insurance contributions at the expense of the employer, if their sales revenues in the month for which they apply for support, have decreased by not less than 40% compared to the average monthly income for 2020. Given that the decrease is not less than 30%, the state will support them with 50 percent of the insurance income for April 2021 and from the insurance contributions at the expense of the employer.
The companies that have received funds for maintaining the employment of the employees from the groups under the decree are obliged to pay remuneration in the amount not less than the amount of the insurance income for April 2021 and to pay the due insurance contributions for the respective month.
The funds will be transferred to the respective employer by bank transfer from the National Social Security Institute. The decree enters into force on June 1, 2021.
30.06.2021
JOB ADS CAN POSE A RISK OF HUMAN TRAFFICKING
Given the fact that the beginning of human trafficking can be a tempting job advertisement, the Employment Agency and the Labor Inspectorate are involved as partners in the " Don't bet your destiny on the map" campaign.
The campaign is organized by the Directorate General for Combating Organized Crime (DGCOC) and the National Commission for Combating Trafficking in Human Beings (NCCTHB) with the financial support of the European Multidisciplinary Platform for Combating Criminal Threats (EMPACT).
The campaign will run in two periods: from 28 June to 31 July, focusing on the risks of trafficking in human beings for the purpose of sexual exploitation, and from 18 October to 30 November, focusing on users of sexual services provided by victims of trafficking. As part of the campaign, information materials and videos will be distributed in order to prevent and raise awareness on the topic.
Often among the prerequisites for trafficking in human beings for the purpose of labor or sexual exploitation are risky initiatives for employment - especially abroad. To avoid the risk of being trafficked for labor exploitation, people looking for work abroad - seasonal or permanent - should not negotiate only on the Internet or outside the office of the one who promises employment. The terms should always be agreed in writing and in no case should the personal documents be provided to others.
Important tips and contacts for assistance are published on the website of the Employment Agency in the section "Prevention of trafficking in human beings for the purpose of labor exploitation", where materials related to the campaign "Don't bet your destiny on the map" will be periodically added.
The Labor Inspectorate also periodically publishes advice for jobseekers and jobseekers abroad in order to raise their awareness of their rights and obligations. A sub-section "Information campaign "Rights in all seasons" has been created on the website of IA GIT, in the section "Activity", rubric "Information campaigns".
Useful materials for Bulgarians working abroad are also published in the section "For employers and workers", section "Work of Bulgarian citizens abroad".
Details of the campaign are published on the website of the Ministry of Interior, and more information on the problems related to the phenomenon of "human trafficking" can be found on the website of the National Commission for Combating Trafficking in Human Beings: www.antitraffic.government.bg and www.antitraffic.bg.
27.06.2021
TODAY IS WORLD DAY OF MICRO-, SMALL AND MEDIUM ENTERPRISES
In 2017, the UN General Assembly declared June 27 the World Day of Micro, Small and Medium-sized Enterprises. The aim is to raise public awareness of their contribution to the world economy and overcoming poverty, as well as to encourage efforts to create a favorable business environment for their survival and development.
According to the NGO International Council for Small Business, micro, small and medium-sized enterprises represent over 90% of all enterprises in the world and provide on average about 70% of total employment and 50% of gross domestic product. They are a major driver of the economy in most countries, and especially in developing countries, giving bread to the most vulnerable.
At the same time, today they are most affected by the COVID-19 pandemic and need the support of the state and economic development organizations the most.
In Bulgaria, according to NSI data in 2019, there are 388,980 micro enterprises (up to 9 persons) with 691,496 employees; 25 204 small enterprises (10 - 49 persons) with 494,071 employees and 4,738 medium-sized enterprises (50 - 249 persons) with 467,303 employees.
25.06.2021
MANDATORY DOCUMENTS WHEN CONCLUDING AN EMPLOYMENT CONTRACT
If when applying for a new job the employer determines the requirements for the preliminary documentation that the applicant should submit (eg CV and Cover Letter in a certain format, etc.), then the rules regarding the necessary documents for concluding an employment contract are determined by a normative act. both parties to the employment relationship should comply. The requirements for this are exhaustively listed in the law. The employer may require the submission of documents other than those specified by law, but only if this is provided for or arises from law or other regulations.
In particular, in order to conclude an employment contract, the employee must submit:
According to the latest amendments to Ordinance № 4 of 1993 (SG, issue 99 of 2017), if the submitted document is for acquired higher education abroad, an administrative body, which is an employer, is obliged to require certification of its recognition under official order. After the amendment of the ordinance, the requirement for presenting a paper certificate certifying the acquired higher education abroad was dropped.
In this situation, when a person applies for a job, an administrative body that is an employer will no longer have the right to require him to present the certificate of recognition, but will have to require certification of his recognition ex officio. This amendment reduces the administrative burden for citizens.
If, for example, the person has completed higher education in the specialty "Law", he should certify his legal capacity, which he has acquired after three months of experience as a trainee lawyer and successfully passing an exam (according to Ordinance № 2 of 23.09.2002 legal capacity).
It should be borne in mind that according to Art. 3 of Ordinance № 4 of 1993, the documents listed above are also necessary in the event of an employment relationship based on selection and competition.
25.06.2021
HOW MUCH WILL THE SALARIES IN OUR COUNTRY INCREASE
Wages in Bulgaria will continue to increase, according to the spring macroeconomic forecast of the Ministry of Finance. The expected increase in economic activity and labor demand in the country in 2021 will contribute to accelerating the nominal growth of compensation per employee to 6.4%.
There will be higher wage growth in services, due to the expected resumption of activity and employment in the second half of the year. The increase in incomes in priority sectors will also contribute, as well as in the structures that are in charge of pandemic control activities, as well as the raising of the minimum wage, etc.
In 2022, in line with the expectations that the Bulgarian economy will reach its full recovery and the upward dynamics of employees, the compensation per employee will continue to accelerate to 7.1%, the document reads.
In the period 2023-2024, the growth rate of wages will remain high, but at the end of the forecast period it will begin to slow down due to the gradual exhaustion of opportunities to increase the supply of labor.
The negative effect of the pandemic on labor income was less pronounced and the nominal growth of compensation per employee amounted to 5.9% in 2020, which exceeded estimates for the development of the indicator since the fall, according to the Ministry of Finance.
Wages declined in four sectors of the economy (real estate operations; information activities; trade, hotels and restaurants, and transport; culture, sports and entertainment), while in industry and the public sector the indicator rose at a double-digit rate.
The increase in the compensation of one employee was also influenced by the acceleration of the growth of the employers' expenses for social insurance.
Estimates of labor income growth in the medium term have also been revised upwards, but remain close to those presented in the autumn forecast, according to the spring forecast of the Ministry of Finance.
24.06.2021
ROMANIA MARKETING CAMPAIGNS CONTINUE
"Our friendship is very important for tourism, as we are neighbors and it is extremely important to maintain good relations." This was said by the Minister of Tourism Stella Baltova after a meeting with the Ambassador of Romania to Bulgaria Brundusa Predescu. The two discussed the state of the tourism sector in both countries.
Our northern neighbor is in first place in inbound tourism in our country in recent years. Minister Baltova expressed hope that this trend will continue in the future. "We are also continuing our integrated marketing campaigns for the Romanian market," the tourism minister explained. The ambassador confirmed that these activities are visible in Romania and influence the choice to travel to Bulgaria. For the period January - April this year were reported over 103 thousand visits by Romanian tourists in our country, and only from May 27 to June 17, according to unconfirmed data, over 20 thousand Romanian tourists spent the night in accommodation in Bulgaria. In this regard, the caretaker Minister assured Ambassador Predescu that the measures taken in our country in connection with the epidemic situation are clear and strictly observed.
Ambassador Predescu praised the work in line with the authorities in the two countries in the recent opening of borders and the lifting of border restrictions.
Romania has also stated its readiness to partner with Bulgaria on the common path to full membership in the Organization for Economic Co-operation and Development (OECD). The two countries will join forces for joint future work within the influential organization to improve the results of the tourism industry.
The meeting also highlighted the good cooperation and readiness for fruitful work in the framework of the working group for tourism at the Black Sea Economic Cooperation Organization, where Romania is a coordinating country until 2022.
According to Ambassador Predescu, it is important for the two countries to continue working together - both to stimulate the tourism business and for other sectors of the economy. She also informed that Romania offers many opportunities for tourism that would be of interest to Bulgarian tourists.
The meeting discussed bilateral initiatives such as the offer of joint products and cultural tourist routes with the idea of attracting guests from distant tourist markets, especially after the end of the global pandemic of Covid-19.
In the context of the intensification of the season, the topics of the transit of buses through Romania with Ukrainian and Moldovan tourists wishing to spend their holidays in Bulgaria, as well as the passage of Romanian tourists through Bulgaria in the direction of Greece were discussed.
18.06.2021
ENTREPRENEURSHIP: INVESTMENTS AMOUNTING TO BGN 5.32 MILLION WERE RECEIVED BY 13 STARTUPS
Investments in the amount of BGN 5.32 million were received by 13 companies through the accelerator program "Vitosha ACCELERATE" of the intermediary "Vitosha Venture Partners". BGN 5.16 million are public funds, as the resource is provided by the Fund of Funds under the Operational Program "Innovation and Competitiveness" 2014-2020 (OPIC), co-financed by the European Regional Development Fund (ERDF). The additionally attracted private capital amounts to nearly BGN 160,000, the Fund of Funds announced.
Cloud Tech (NulaBG) is one of seven companies in the accelerator program to receive funding. It is from the fintech sector and is a platform for banking and accounting for small and medium businesses.
Grid Metrix is from the artificial intelligence sector. The company helps utility companies get useful information about the efficiency of their infrastructure through artificial intelligence.
Trace du Teest is from the food technology sector and is a platform that enables chain stores, supermarkets, restaurants, bakeries, hotels and more. to monetize expired food and goods; those that are non-commercial or difficult to sell.
Fidu Trade is an all-digital provider of financial services for small and medium-sized exporters from emerging markets to Western Europe. The company is developing an innovative fintech platform that allows Bulgarian exporters to monetize their receivables at the time of sending the goods or performing the service. The company is from the fintech sector.
Augment is from the e-sports sector and is a data analysis platform for e-sports.
Bye Bye Stuttering Institute is an online platform that helps people with speech difficulties. Through it, they can conduct their own therapy with the support of their loved ones. This is an opportunity that traditional therapies do not offer. The company is in the healthcare sector - healthtech.
Ecopolytech is developing biodegradable polymers and environmental solutions that will serve the industry to move from artificial materials to the use of biodegradable equivalents for the manufacture of disposable products. The company is from the sector - clean technologies.
The Fund of Funds informed that outside the accelerator program "Vitosha Venture Partners-Fund I" KD closed six more investment deals.
Omnio is from the regtech sector and provides an artificial intelligence investigation software solution that automates eligibility and financial fraud prevention processes for financial institutions. Funds in the amount of BGN 391,166 have been invested for the development of the platform and for the implementation of Omnio in financial institutions.
Assen Aeronautics Europe (Assen Aero) from the aeronautics sector is developing a unique drone for transportation. With the help of the investment provided by the fund over BGN 1.173 million, the company will develop its first prototype, which will be able to safely transport people.
Petmall is one of the fastest growing companies in the pet food and accessories trade. An investment of BGN 1.564 million will help the company implement new business models, expand its market and grow its online sales.
TokWise Ltd. (TokWise) is an innovative platform for managing a portfolio of projects for the production of green energy, which helps optimize the business models of energy companies. The investment of BGN 293,375 will help the platform reach new customers in Bulgaria and Europe and upgrade its product. It is selected by sector - Software as a service, Green energy.
Pellet Box, which is in the process of being established, will operate in the sector - energy efficiency/renewable energy. It is the first company in Bulgaria to provide easy, round-the-clock access to pellets and other bulk goods through vending machines. Pellet Box also offers personalized solutions for households with a yard, providing their heating needs. Vitosha Ventures Partners is investing BGN 391,166 in implementing the company's solutions.
Meat Me Bar from the foodtech sector creates innovative, healthy, high-quality and affordable foods that are low in carbohydrates, from all-natural ingredients. With the investment of BGN 782,332, the company will expand its market and develop a series of other innovative and healthy additions to its product line.
We remind you that Vitosha Ventures Partners manages a fund in the amount of BGN 50.7 million, of which BGN 49.1 million are public funds provided through the Fund of Funds from the Operational Program "Innovation and Competitiveness" 2014-2020 (OPIC), co-financed by the European Regional Development Fund, and the rest is private co-financing.
By the end of 2023, the fund manager must invest in nearly a hundred start-up companies at an early stage of their development. Small and medium-sized enterprises at the acceleration stage can receive financing from BGN 30,000 to BGN 100,000. Between BGN 30,000 and BGN 2 million will be received by the more advanced companies in the development of their product or the creation of a prototype.
16.06.2021
POSTING AND SENDING OF EMPLOYEES TO A COUNTRY OF THE EUROPEAN UNION
This material aims to give an overview of the current legislation applicable to the posting of employees in the framework of the provision of services in a country of the European Union.
The topic is gaining popularity again as Europe and the world begin to slowly but surely shake off the Covid-19 crisis and the physical movement of people on the Old Continent is beginning to intensify.
In addition, at the beginning of the year, amendments to the Ordinance on the terms and conditions for posting and sending employees in the framework of the provision of services (the Ordinance) were adopted, which significantly changed the regulatory framework.
The basic regulation is in art. 121a of the Labor Code. General posting and sending of employees in the framework of the provision of services occurs when a Bulgarian employer posts a worker or employee in the territory of another EU Member State, on the basis of a contract concluded between the employer and a third party - user of services or when the employee is seconded to an undertaking in the same group. Of course, the regulation is also applicable when the employer is a person registered under the legislation of another EU Member State and posting an employee on the territory of the Republic of Bulgaria, as well as in cases where it is an enterprise that provides temporary work.
This article will focus on the posting of workers and employees by a Bulgarian employer on the basis of a contract concluded between the employer and a third party - user of the services. The remaining cases will be the subject of further materials.
First of all, there should be an employment relationship between the employer and the employees valid for the entire period of the secondment.
The posting of workers is carried out under a contract which the employer, as a contractor or subcontractor, concludes with a contracting authority from an EU or EEA Member State. In view of the above, it is mandatory to have a contract between the Bulgarian employer and the user of services in the other Member State.
The ordinance requires the employer and the employee to agree with an additional written agreement on a change in the existing employment relationship between them for the duration of the secondment. This additional agreement should regulate: the nature and place of work, the start and end date of the secondment, the amount of basic and additional remuneration, the length of working days and weeks, holidays, housing conditions, type of vehicles and route, etc.
An essential element of the posting relationship is that posted workers cannot and should not be placed at a disadvantage (working conditions) by local workers for a position in the host country. The general concept of "working conditions" should be understood as: minimum rest, maximum working hours, minimum paid annual leave, remuneration, health and safety at work, etc.
In case the conditions of employment in our country are more favorable for the employee than the conditions in the host country, these more favorable conditions will be applicable.
The employer is obliged to accrue and pay the employee the agreed remuneration, but not less than the established amount of the basic salary and additional remuneration for the same or similar work in the host country, for the entire period of secondment or dispatch.
Not only Bulgarian insurance legislation applies (by virtue of certificate A1), but also the laws in force in the host country.
A1 is a certificate issued by the competent territorial directorate of the NRA in accordance with European Regulation (EC) № 883/2004. The purpose of the certificate is to determine in which country the employee's social security contributions will be paid, namely - whether in Bulgaria or in the country where the employee is posted (host country).
The application for an A1 certificate shall be submitted before the staff are sent to the host country. The request can be made after the start of the business trip. In the absence of a valid certificate or a refusal to issue it by the NRA, the competent institutions in the host country may charge social security contributions. The issuance of Certificate A1 is applicable if you work in another EU country for more than one month and up to a maximum of 24 months. After the expiry of the maximum period, the mission must be suspended for at least two months.
The issuance of the certificate (respectively the applicability of the Bulgarian insurance legislation) is presupposed by a number of conditions that the employer must meet, including: to have an economic history - at least 3-4 months to operate in Bulgaria in the same field, in which employees will be seconded; at least 25% of the company's turnover, compared to the total, must be realized on the territory of Bulgaria, with Bulgarian contractors, for the previous 12 months or from the moment of starting the activity; at least 25% of the staff employed in the main activity of the employer should continue to work in Bulgaria.
As mentioned, the regulation of the institute is extensive and detailed, and when posting employees of a company should be considered all the conditions and requirements applicable to the case.
