15.04.2021

UNEMPLOYMENT IN OUR COUNTRY HAS RISEN THE MOST

Unemployment in Bulgaria has risen the most compared to other countries in the European Union, Eurostat reported.

In the last quarter of 2020, it increased by 0.3% compared to the previous quarter to a level of 5.4%. In the EU as a whole, unemployment is falling in 18 of the 27 countries.

The largest decline was in Luxembourg (by 1.9%), followed by Ireland and Portugal - by 0.7 percent.

Luxembourg is also the country with the most significant increase in employment between the third and fourth quarters of 2020 - by 2.1%.

At the opposite pole are Slovakia and Belgium, where employment is down 0.3%.

At the same time, employment in Bulgaria is growing at a slightly faster rate than the EU average - within 0.6 points.

Overall, the EU labor market is showing weak signs of recovery at the end of 2020, according to Eurostat.

15.04.2021

FOR A WEEK THE EMPLOYEES ARE 97 MORE THAN THE LAID OFF ONES

For the first time since mid-March in the week of April 5-11, the number of people who came to work is higher than the number of those fired, according to NSI data.

For the period, 6,143 people were laid off and 6,240 were hired. In Sofia, most are both those released during the week and those hired. In the capital, those who started working are 60 more than those sent to the labour exchange. In Burgas, Varna, Veliko Tarnovo, Razgrad, Targovishte, the number of employees is also significantly higher than the number of those laid off, and in Gabrovo - almost twice as many. In most districts, however, the ratio is reversed, such as in the Yambol region, where 127 people were fired in just one week, and only 73 found a livelihood. The situation is similar in Plovdiv, and in the Montana region 209 people were fired and hired about 50% less - 105.

15.04.2021

ENTREPRENEURSHIP: BSE STARTS PARTNERSHIP WITH THE GERMAN STOCK EXCHANGE FOR FINANCING BULGARIAN STARTUPS

The Bulgarian Stock Exchange announced that it has launched a partnership with a subsidiary of the German stock exchange Deutsche Börse, which will help Bulgarian small and medium-sized enterprises and start-up companies to obtain additional financing.

Founded in 2015, the subsidiary Deutsche Börse Venture Network® is an ecosystem consisting of 460 venture capitalists from 32 countries around the world. 200 companies are members of this ecosystem and they have managed to raise a total of 4.6 billion euros in funding since its inception.

"BSE will serve as a bridge to the network through free evaluation and consultations of companies that are potential members from Bulgaria," said Assoc. Prof. Dr. Manyu Moravenov, Executive Director of BSE and Associate Professor at VUZF.

Bulgarian companies - candidates for joining the Deutsche Börse Venture Network, must meet at least three of the following criteria: for start-ups at an early stage - to have at least 1 million euros in revenue, to cover some specific business indicators such as a large number of new customers or a large growth of the customer base, etc., to have a well-known investor and attracted capital of over 1 million euros; for more mature companies - to have not less than 10 million euros in revenues; to report annual revenue growth of at least 30%, annual net profit over EUR 0.5 million, equity over EUR 5 million, well-known leading investors and attracted capital over EUR 10 million. You can see more at: https://beamuplab.space/bg/venture_network

The benefits of BSE membership in the network will be presented today during the third strategic meeting of the companies from the beamUp lab program - Gravity MeetUp III. The exchange is a symbolic host of the meeting and will demonstrate all the opportunities it offers to startups and SMEs to raise capital to implement their business strategies with a focus on the Beam Growth Market.

Another focus will be the European Bank for Reconstruction and Development's panel, which will present the types of financing they provide for start-ups and SMEs.

In the last session, EnduroSat, Businessmap (Kanbanize), SoftUni and Software Group will make their special presentation or the so-called virtual investor pitch and will receive feedback and recommendations from the managers of the leading venture capital funds - Neo Ventures, BlackPeak Capital and LAUNCHub.

The forum is attended by representatives of the 20 companies selected for the beamUp lab program, its partners and consultants.

14.04.2021

THE EFFECTS OF TELEWORK ON THE LABOR MARKET HAVE YET TO BE STUDIED IN DEPTH

Employers, like all workers, face many challenges during this economic crisis. A recent study showed that corporate social responsibility practices, especially in large companies, have been maintained even as financial parameters, and in some cases companies have even increased their budgets. This was stated by Zornitsa Rusinova, Chair of the Economic and Social Council (ESC).

These are usually companies from the financial and insurance sectors and energy. Some of these companies are branches of international companies that have good standards of corporate social responsibility and have managed to maintain them during the crisis, despite the great challenges. About 97-98% of companies have taken the most popular measures - for example, they encourage employees who have symptoms to stay at home.

It is necessary to prepare an internal organizational plan in case of COVID situation how to reorganize the company's activities. To make an analysis of the importance of a certain type of meetings, events and, accordingly, to reposition them in some way, Rusinova recommends. In 90% of the cases the business trips and the direct contact between the employees, as well as with clients have decreased.

Most companies, perhaps about 85%, also use forms of telework. We also see this trend at the pan-European level - recently EC data showed that over 40% of people who worked were remotely employed during the pandemic. This is one of the reasons for ESC to prepare an opinion this month on the effects of telework on the labor market.

Thus, it will be possible to make a good picture of the workforce and, accordingly, recommendations in which direction the legislature and the executive could work with specific measures, explained the chairman of the ESC.

"Based on this opinion, we will not only be able to give a good picture of the effects on the workforce, but also recommendations on the direction in which the legislature and the executive could work with specific measures. The other topic, which is also important. for us in the Economic and Social Council and in May we will clarify, is a full analysis of the measures that the state had prepared for companies, for people - to maintain employment, social support, financial liquidity, tax relief, credit deferrals, administrative deadlines, etc. In order to be able to be useful to the legislature and the executive in the summer months in formulating the next steps," explained the economist.

"The care of all countries, including Bulgaria, during this crisis was, first of all, to help both people and companies. To keep employment so that people do not lose their jobs. What we see from the recent survey is a rearrangement of the priorities of many business leaders and employers, and owners in general. If until two years ago the main topic was people's skills and qualifications, now the Covid crisis is in the first place. In second place, however, is the effect on the future of labor, as well as the effect on the renewal of energy sources, the circular economy, etc. - more and more companies are thinking about this topic," said Rusinova.

14.04.2021

A DRAFT NATIONAL ACTION PLAN FOR THE PROMOTION OF EQUALITY BETWEEN WOMEN AND MEN FOR THE PERIOD 2021-2022 HAS BEEN PUBLISHED

The Project envisages stimulating the non-governmental sector to create conditions for social inclusion of people with disabilities, according to Art. 10, para. 3, item 8 of the Law on People with Disabilities, with expected results:

Full participation of over 3600 people with disabilities in society through their participation in events organized by NGOs;

Social services provided in the community by NGOs.

The measures regulated by the Project, for which NGOs are among the responsible institutions, are also:

Providing support and protection to victims of trafficking in human beings, in accordance with the implementation of the Anti-Trafficking in Persons Act and the National Mechanism for Guidance and Support of Victims of Trafficking in Human Beings;

Conducting activities for the prevention of human trafficking, including national campaigns, incl. with a focus on trafficking pregnant women in order to sell their newborn.

Prevention activities with a focus on specific vulnerable groups;

Development of the volunteer network at the Local Commissions for Combating Trafficking in Human Beings and implementation of prevention activities among students and youth;

Conducting events to upgrade the capacity of specialists working in the field of combating trafficking in human beings and protection of victims.

>> For more information visit the Public Consultation Portal.

14.04.2021

INTEREST-FREE LOANS FOR INDIVIDUALS AND BUSINESSES CONTINUE TO BE PROVIDED

2014 loans totaling almost BGN 10 million are the approved interest-free loans for individuals, which will be granted after the restart of the anti-crisis program of the Bulgarian Development Bank (BDB) was announced two weeks ago. In March, by a decision of the Council of Ministers, the program was increased by BGN 100 million to continue supporting the injured employees and self-insured persons who cannot work due to the COVID-19 pandemic.

Thus, since the beginning of the measure until now, the number of approved interest-free loans is already over 39,790, and their total value is almost BGN 178 million. , are First Investment Bank, Investbank, UniCredit Bulbank, United Bulgarian Bank and Raiffeisenbank. The Central Cooperative Bank is expected to resume accepting documents within days.

1,414 is the number of confirmed for guarantee loans under the anti-crisis program in support of business, as their total value exceeds BGN 205 million. Thus, in total, under the two measures - for individuals and companies, BDB has confirmed loans worth over BGN 383 million. leva.

BDB guarantees loans of up to BGN 1 million for small and medium enterprises and up to BGN 2 million for large companies that suffer negative consequences from the pandemic. The loans are granted by 9 partner banks: Allianz Bank, DSK Bank, Bulgarian-American Credit Bank, Investbank, First Investment Bank, Postbank, D Commercial Bank, UniCredit Bulbank and UBB.

Loans guaranteed by BDB are granted with reduced collateral requirements, with a lower interest rate and with the possibility of a grace period of up to 3 years.

The average amount of loans so far is BGN 145,200. The largest is the share of micro and small enterprises - 76%, second are medium-sized enterprises with 21%, and the smallest is the share of large companies - 3 percent.

The application deadlines for both guarantee programs have been extended until June 2021.

14.04.2021

GROWTH OF IMPORTS SINCE A YEAR

In February 2021, for the first time in a year, there was an increase in imports to Bulgaria. It increased by 2.6% compared to a year ago and amounted to BGN 5.4 billion. Imports, the increase of which indirectly indicates a certain recovery in consumption in the country, fell throughout the last year, with the largest decline - nearly 30%, it was in April and May. However, the current growth also speaks of economic recovery, as among the goods that marked the largest growth in imports - from 741 last February to BGN 801 million now, are machinery and equipment.

Bulgaria's exports to China increased by 19.5% in the first two months of 2021 and reached BGN 310 million, according to NSI data. In February, foreign trade revived slightly, with exports growing by 2.8%. But due to the decline in foreign trade in January, total for the first two months of the year exports fell by 1.7%. With regard to the main groups of goods, in the first two months of the year there is a 20% increase in exports to non-EU countries of unprocessed materials, unfit for consumption, to nearly BGN 350 million.

13.04.2021

ENTREPRENEURSHIP: THE ACCEPTANCE OF PROJECTS FOR THE ENDEAVOR DARE TO SCALE 2021 PROGRAM HAS STARTED

The acceptance of projects for Dare to Scale has started - a four-month growth program aimed at entrepreneurs and businesses that have already passed the early phase of their development and are expanding their activities. The program is organized by the Bulgarian office of the global entrepreneurial network Endeavor with main partner Postbank and the support of Software Group and the Executive Agency for Small and Medium Enterprises (EASME), the financial institution announced.

Postbank reminds that the editions of Dare to Scale in 2019 and 2020 grabbed the award for "Best Accelerator Program" at the Central European startup awards CESA for Bulgaria.

Entrepreneurs from all spheres of the economy and from all regions in Bulgaria can apply for Dare to Scale. The condition is to have a proven product or service on the market, to have a turnover of at least BGN 200,000 for 2020, the number of employees not to exceed 150 people and most importantly - their business to have the potential for global growth .

Both well-established companies that have been operating for years and those that have started relatively recently can participate in the program. The application takes place on this link until April 30, 2021. The applicant companies will go through a selection process in which mentors and business leaders from the Endeavor network will select the final participants.

The duration of Dare to Scale is four months - from September to December 2021. Like the previous edition, the organizers anticipate that this year the program will be hybrid - physical events in Sofia and virtual ones when needed.

The founders of the companies will have the opportunity to participate in specialized trainings in four main areas: organization management, marketing, sales, business planning and capital raising. Each company will have an individual mentor from the Endeavor network, who will hold regular meetings with the founders and will support them with their expertise.

Participants will be able to participate in physical and virtual events, during which they can exchange experiences and get acquainted with the basic players in the entrepreneurial ecosystem.

The program will end with the final Demo Day event, during which participants will present their businesses to a jury of established business leaders. Detailed information about the program is available here.

Last year's edition of Dare to Scale was attended by 12 companies that underwent training, mentoring sessions led by entrepreneurs and experts such as the founders of Telerik - Vasil Terziev and Svetozar Georgiev, the founder of Telelink - Lyubomir Minchev, and Uber site manager - Alexander Popov.

At Demo Day last year, RPA was rewarded for its participation with an investment of 200,000 euros from the partner organization F27. Continuing its participation in Dare to Scale, the company Out2Bound acquires a new client, with whom they start work on a large-scale project, as well as establishes key contacts in Romania for the forthcoming opening of an office in the neighboring country. Since the beginning of the program in 2019, the companies have received a total of over 150 mentoring hours.

"What makes Dare to Scale unique is the very clear focus that the program has on the practical challenges that companies face in the initial phase of their growth. The program links these challenges to the experience and expertise of Endeavor mentors, who have already followed a similar path and can help with specific advice, commented Momchil Vassilev, CEO of Endeavor Bulgaria. - Over the years, Dare to Scale has established itself as an important element of the entrepreneurial ecosystem in the country, as in the previous edition we supported companies that generated BGN 72 million in revenue. During their participation in the program, they managed to attract additional investments, enter new markets and develop new areas of activity."

Petya Dimitrova, CEO of Postbank, pointed out that after two extremely successful years, the Dare to Scale program has established itself as a sustainable model of development that unmistakably recognizes and promotes projects that bring real value to the entrepreneurial environment in our country.

"It is extremely important for us to be part of this process, to support the ambitions of companies that are looking for scale for their business and thus change the whole ecosystem. I am convinced that this is the attitude that is moving us forward. The time we live in provides us with plenty of challenges, but they will measure our resilience and our ability to learn and grow, said Petya Dimitrova. - For the third year in a row, we at Postbank will share with entrepreneurs our high expertise and experience to support them in the most important stage of their business development and to become part of their growth. We will look for the potential of successful partnerships that allow us to innovate and improve the capabilities of the ecosystem. For us, this is an investment in the future and a chance to be part of the change that is moving us forward."

Kalin Radev, founder and CEO of Software Group, reminded that Software Group is a partner of Dare to Scale for the second year in a row. "In last year's edition, we had the pleasure of meeting entrepreneurs from different business sectors and supporting their ambitions and dreams of success and growth, as well as witnessing the impressive results that the accelerator program has helped them achieve. I expect even greater interest and presence this year and I wish success to all participants," he said.

According to Boyko Takov, Executive Director of the Executive Agency for Promotion of Small and Medium Enterprises, the agency again participates in one of the most successful entrepreneurial programs in our country. He is convinced that great companies operate in Bulgaria, which with the right guidance and mentoring can develop their business to the highest world standards and be successfully realized in foreign markets.

"I welcome the business to apply for the third edition of the Dare to Scale, because it will get the truly valuable knowledge it needs - on the one hand, to expand its business, and on the other - to get through the complicated economic situation of the last year with the support of experts, representatives of the most developed spheres of the economy ", noted Boyko Takov.

Endeavor is an international non-governmental organization with offices in 40 locations, helping entrepreneurs with big ideas and businesses to grow rapidly internationally.

Entrepreneurs, part of Endeavor, have the potential to change their countries and the world - they can be a key factor in long-term economic growth, job creation and innovation. Endeavor provides selected entrepreneurs with access to markets, capital and talent in its network of over 4,000 mentors and investors worldwide. In Bulgaria, Endeavor started operations in July 2015 in order to expand the organization's presence in Europe. To date, the Bulgarian office has supported over 70 entrepreneurs from more than 40 companies, which have created over 1,700 jobs and generated revenues of BGN 320 million for 2020.

13.04.2021

THE MEASURE 60/40 EXPIRES

Employers who meet the conditions and who wish to receive funds under the government measure to maintain employment "60/40" for the period January-March 2021, can submit an application and the required documents until 17.00 on April 15, 2021 reminded by the Employment Agency (EA).

After the government felt that the crisis situation in the country had not yet been resolved, it decided to extend the scheme until May 31, with the EA explaining that the application deadlines are fully in line with the government's order.

The employers already approved in the first quarter of this year under the measure are reminded by the agency that the payment is made on the basis of a current list of employees for the previous month and a letter-declaration for monthly reporting.

The deadline for submitting these documents is April 22, 2021, according to the procedure approved by the Executive Director of the Employment Agency.

The Employment Agency draws attention to the fact that employers must comply with the set deadlines for application (April 15, 2021) and for monthly reporting (April 22, 2021), as the documents submitted after these dates are not subject to verification and evaluation by the commissions. in employment offices.

The documents can be submitted electronically through the Secure Electronic Service System (SES), signed with a qualified electronic signature (QES) or through a licensed postal operator, and if it is impossible to use these two methods - by visiting the labor office.

Regardless of the method of sending, the documents are submitted to the Directorate "Labor Office", serving the territory of the place of work of employees or in the labor office, where the employer is approved.

12.04.2021

BUSINESS INVESTMENTS - FOR DIGITALIZATION

Every second company plans to invest in digitalization in the next 3 years. This is what the data from the survey of PwC among business leaders in Bulgaria say. 51% of them point to the digital transformation as the main one for their investment plans. 29% intend to invest money in cybersecurity for their companies, and hacker attacks are cited by 47% of managers as a threat to economic growth. Most bosses are worried about health crises (58%), and in second place (51%) are concerns about the lack of key skills of the necessary staff.

For the first time, the main threats to economic growth include the spread of misinformation (32%). The investment plans of the Bulgarian managers are in line with those of the world business leaders, but with one exception. Due to climate change concerns, only 44% of Bulgaria's executive directors plan to invest more in resilience and resilience initiatives. Globally, 60% of business leaders plan to do this. 40% of Bulgarian businesses plan to hire staff in the next 12 months, and 59% will do so in the next 3 years. Almost half (46%) of the Bulgarian participants in the survey share that in 2020 they have preserved the number of employees in their organizations. Nearly one quarter (24%) was reduced, which is the lowest result compared to the indicators in the other countries. But it is close to the forecasts from last year, when 29% of the management expected us to make cuts. At the global level, such intent was declared by only 22% of executive directors, while in reality 37% of them reduced the working year 2020.

Аttitudes and risks

Bulgarian managers are cautiously optimistic about economic growth in 2021, in which the pandemic continues to dictate economic trends. 58% of the respondents in our country predict that the global economic growth will improve in the next 12 months, while globally the optimism is higher and is shared by 76%. 68% of Bulgarian business leaders expect a path to the profits of their companies, but only 45% predict a path to profitability. On a global scale, the respective results are about 74% and 65%.

How will the patch run

Bulgarian business leaders determine the top 3 of the most important plans for promoting our care. According to 76%, this will be done by seeking operational efficiency. 65% rely on limited coverage, and 51% - on the purchase of a new product or service on the market. The plans of the business leaders in our country for cooperation with startups have increased by 21% this year against 16% in 2020. As for the economic measures for recovery from COVID-19 and for ensuring sustainable growth, the Bulgarian business leaders are the most skeptical about how the government will balance short-term economic needs with long-term environmental policies. 59% of respondents believe that a balance is unlikely, compared to 35% worldwide.