28.01.2022
LOANS FOR SMALL COMPANIES WITH 5% SELF-PARTICIPATION WILL BE GRANTED BY BDB
The Bulgarian Development Bank (BDB) has renewed the terms of its program in partnership with the Pan-European Guarantee Fund in support of small and medium-sized businesses, creative industries and start-ups, BDB said.
Credits for businesses and creative professions have already been reduced self-participation up to 5 percent, and the application deadline has been extended to June 30, 2022.
BDB's "Business: Creative: StartUP" program provides funding to some of the most affected by the pandemic sectors with preferential interest rates and lower than standard collateral and deductible requirements.
The amount of loans granted for creative businesses is up to BGN 500,000. Start-up companies can benefit from financing up to BGN 250,000 without having to pledge their property, as a guarantee will be the purchased asset.
Small and medium enterprises from all sectors that do not fall into the other two segments can also apply for a loan on better terms: from BGN 100,000 to 5 million, for up to 10 years and a grace period of up to 18 months.
So far, the program in partnership with the Pan-European Guarantee Fund has granted loans totaling almost BGN 3 million. The companies that have received support operate in the field of production and trade, and one of them is start up - registered in the middle of last year and is engaged in plastic recycling.
Companies in need of funding can now apply online or on site at the BDB office in Sofia.
28.01.2022
THE SECOND SCHEME IN SUPPORT OF TOURISM HAS BEEN OPENED
The Ministry of Tourism has opened for application the second measure for providing grants worth BGN 30 million under Scheme BG-176789478-2021-06-Providing grants to support the tourism sector to compensate for losses incurred directly and/or indirectly from the restrictions in the activity of the enterprises, due to the introduced anti-epidemic measures and appendices to them.
The grant will be awarded once and will be distributed on a proportional basis to the number of submitted and admitted for consideration applications for support and turnover without VAT in 2019, but not more than 20% of the same.
The guidelines and rules are published in the National Investment Management System (NIMS). The scheme is already open for applications as of today, January 28, 2022.
The deadline for applications expires on 04.02.2022 at 16:30.
Instructions for applying for the scheme can be found HERE
Any clarifications and questions about the scheme can be asked in writing, by e-mail: shema6@tourism.government.bg.
27.01.2022
WHO ARE THE BDB PARTNER BANKS IN SUPPORT OF BUSINESS
From the beginning of February, UniCredit Bulbank will start work on the guarantee program of the Bulgarian Development Bank (BDB) in support of small and medium-sized businesses affected by the measures against the pandemic, the state bank announced.
UniCredit Bulbank joins BDB's partner banks, which provide financing under the renewed terms of the Recovery Program - BACB, Allianz Bank Bulgaria, Eurobank Bulgaria, FIBank, DSK Bank, UBB and Investbank. The deadline for applying for the anti-crisis measure has been extended to June 30, 2022, BDB clarified.
The program provides loans of up to BGN 3 million with a repayment period of up to 7 years and with the possibility of using a grace period for payment of principal and interest up to 36 months. The terms of approval for financing are up to 5 working days after receiving all the necessary documents from the banks, and the time for absorption of funds is 10 working days.
The BDB guarantee program is open to micro, small and medium-sized companies or "small companies with medium market capitalization" from all sectors of the economy (with up to/including 499 staff meeting one of the following criteria: up to/including 100 million EUR amount of the asset or up to/including EUR 86 million in sales revenue).
The condition is that they operate and are registered in Bulgaria, suffer adverse economic consequences from the spread of the pandemic and have at least three completed financial statements with sales revenue and accounting profit for at least one of the last three years.
BDB covers up to 80 percent of the loan principal, and as collateral requires personal guarantees from the beneficial owners of the companies or related parties, as well as, if applicable, pledges of receivables from accounts under the Law on Obligations and Contracts (LOC), the Law for special pledges (LSP) and through a financial collateral agreement, according to the Financial Collateral Contracts Act (FCCA).
The Recovery Program has been developed by the Ministries of Economy and Finance. Since its launch until now, BDB has confirmed loans in the amount of BGN 427,298,549.
27.01.2022
COVID-19 VACCINES FOR CHILDREN: ADVICE ON WHAT TO DO AND WHAT NOT TO DO
COVID-19 vaccination is now recommended for children aged 5 to 11 years. Evidence shows that it offers excellent protection against COVID-19 in children. Although the coronavirus is often milder in them than in adults, there is strong evidence to support the vaccination of children. This is stated in a publication on the official website of the Australian state of New South Wales, quoted by Darik.
Vaccines lend a hand to the immune system to protect against serious diseases and possible long-term effects of COVID-19. Vaccination also helps protect friends, family and the community by reducing the spread of the virus, the statement said.
And it offers advice on what to do and not to do when vaccinated against COVID-19 in children between 5 and 11 years old.
What should we do:
What not to do:
• Be sure to encourage your child to wear a mask indoors, even if vaccinated. This will help limit the spread of COVID-19.
26.01.2022
THE "FROM BULGARIA" PROGRAM IN SUPPORT OF SMALL LOCAL PRODUCERS
E-commerce is one of the fastest growing sectors and a chance for many businesses affected by the pandemic not only to stabilize, but also to develop and grow by entering new markets.
According to data from the Bulgarian E-Commerce Association from 2021, over 47% of Bulgarian consumers have shopped online, and 88% of them have done so from local retailers. At the same time, the maintenance of an online store requires significant resources and investments - for development, integration of payment methods, marketing and security.
In support of this, at the end of last year eMAG launched the program "From Bulgaria", which offers small local producers access to one of the largest channels for online trade in our country by launching their products for sale in the eMAG Marketplace. In this way, Bulgarian producers, craftsmen and NGOs meeting certain criteria are given the opportunity to use a modern sales channel, such as e-commerce, which offers market entry with over one million potential customers on the platform online.
"The marketplace model is an excellent opportunity for small local producers to take advantage of a developed, efficient and modern online sales channel, with serious experience and resources at their disposal. Over the next three years, eMAG at the group level will invest over € 50 million in technology, international market development and human resources on the platform. At the same time, investing in the local economy is important to us - our support for small producers and craft traditions will create increased demand and new jobs, and for local communities the effect of the program will be long-lasting and sustainable," said Razvan Blanita, director of eMAG Marketplace Bulgaria.
In "From Bulgaria" small producers, non-governmental organizations with self-financed production activities and craft sole proprietors can join and benefit from the program - regardless of their field of activity, except for the food industry. Their turnover, registered in the last fiscal year, should not exceed BGN 150,000.
The company's expectations are that five years after the launch of "From Bulgaria" the small producers registered in the program will have realized through the platform total sales amounting to BGN 14.2 million. Traders wishing to sell through the eMAG Marketplace within the initiative must produce in Bulgaria, in accordance with all legal rules and regulations, and their products may include handicrafts made in small batches.
To make them easier for customers to recognize, the products in the program will be marked on the website and in the mobile application of eMAG with the label "From Bulgaria".
25.01.2022
VALIDITY OF CERTIFICATES WHEN TRAVELING IN THE EU FROM 1 FEBRUARY
The European digital Covid vaccination certificates for 93,000 Bulgarian citizens, whose vaccination course was completed more than 270 days ago on February 1, will not be valid for travel to the European Union, reminded by the Ministry of Health.
The reason is that from 1 February 2022, all EU digital Covid certificates issued proving a completed vaccination course will be valid for 270 days from the date of the last dose.
The Ministry of Health points out that when a booster dose is given, the vaccination certificate is not limited in validity.
The Italian authorities have reduced the validity of the certificate to 6 months, which will also apply to those who have received a booster dose of vaccine. The rule comes into force in Italy on February 1.
However, England eased Covid travel measures.
The Council of the EU announced today that it has adopted a recommendation amending the rules on travel restrictions related to the Covid-19 pandemic.
The Council recommends that, from 1 February, the restrictions be based on the passenger and not on the place from which he arrives. It is envisaged that anyone with a valid certificate will be allowed to cross the border without additional conditions.
It is recommended that the validity of the certificates for the vaccinated be 270 days, for the sick - 180 days, and for the tested - up to 72 hours from the sampling.
Non-certified passengers may be required to be tested immediately before travel or up to 24 hours after arrival. The Council of the EU proposes that the general rules should not apply to frontier workers, important travelers and children under 12 years of age.
It is envisaged that all these proposals will apply to travel from countries that do not fall into the so-called dark red zone, where the spread of the disease is high. Today, for the fourth time, the EU Council issued general recommendations on freedom of travel since the beginning of the pandemic.
25.01.2022
MH: PARENTS HAVE THE RIGHT TO SICK LEAVE IF THEIR CHILDREN ARE UNDER QUARANTINE
In connection with the increased incidence of coronavirus in children, the Ministry of Health clarifies that parents of children returned from school or kindergarten due to quarantine are entitled to a sick leave.
And more - the parents of students under 14 who do not attend school due to the anti-epidemic restrictions, are entitled to monthly targeted assistance. The allowance for families with one child is BGN 650, and for families with two or more children BGN 975.
Parents can apply for it if they are on unpaid leave because they cannot work remotely, do not have the opportunity to use paid leave and are not on sick leave.
Another condition for granting the aid is that the average income of a family member is lower than or equal to 150% of the minimum wage, which is equal to BGN 975.
In order to receive assistance from the state, the income of a family with one child must not exceed BGN 2,925, and the income of a family with two children must not exceed BGN 3,900.
24.01.2022
2.5% INTEREST FOR INVESTMENT LOANS IN AGRICULTURE
The management board of the state fund "Agriculture" reaffirmed the annual interest rate of 2.5 percent for the investment loans granted directly by the fund for 2022, they announced.
From 2002 to the beginning of 2014, the annual interest rate on loans was 6 percent. Since 2014, the interest rate has been reduced to 5 percent, and in 2016 - to 4 percent. In 2019 and 2020, the interest rate applied to loans was 3 percent, and in 2021 - 2.5 percent.
Applicants under the Credit Scheme for Investments in Agriculture and the Scheme for Lending to Persons with Approved Projects under the National Beekeeping Program 2020-2022 can take advantage of the relaxed interest conditions.
24.01.2022
UNEMPLOYMENT BENEFITS ARE BEING RAISED
The minimum daily amount of unemployment benefits to increase from BGN 12 to BGN 15 from April 1 this year. This is provided by the draft budget for this year.
The Draft of the updated medium-term budget forecast for the period 2022-2024 states that the increase in the money of the unemployed will cost BGN 10.8 million.
From April 1, 2022, it is planned to increase the amount of monthly allowances for raising a child until the completion of secondary education, but not more than 20 years of age, respectively: for families with one child - by BGN 10 (from BGN 40) for families with two children - by BGN 20 (from BGN 90 to BGN 110), for families with three children - by BGN 30 (from BGN 135 to BGN 165) and for families with four children - by BGN 30 (from BGN 145 to BGN 175).
For this purpose, it is planned to increase the income criterion, respectively from BGN 410 to BGN 510 per household member to receive the full amount of assistance.
To receive 80 percent of the amount, the income of a family member changes from BGN 410.01 to BGN 510 to BGN 510.01 to BGN 610.
The maximum insurance income is increased from BGN 3,000 to BGN 3,400 as of April 1, 2022, as well as the minimum insurance income for farmers and tobacco producers from BGN 420 to BGN 710, and the minimum insurance income for self-insured persons is raised from BGN 650 to BGN 710, which is expected to be the minimum wage.
21.01.2022
FOOD VOUCHERS ARE GIVEN ONLY IN CERTAIN CASES
One of the benefits that employers offer to workers outside their salary is the so-called food vouchers. They are certainly quite tempting for both workers and those who are just choosing where to start work.
The topic of food vouchers is one of the most discussed, because workers in different places compare these benefits and if they do not have them, there is dissatisfaction in them, which reflects on the employer. Another such sensitive topic is that of work and representative clothing, which topics we will explain soon in a special article on the subject.
It is extremely important when choosing a new job to look carefully at how the salary is announced. In order to make the proposal more attractive, it is common practice to declare the salary as the sum of the salary itself and other financially measurable benefits.
Let us clarify at the outset that wages are the main reward for employees. Accordingly, there is an opportunity to add other, additional incentives for the employee, such as bonuses in the form of food vouchers and other types of purchases, various forms of private health insurance and others paid by the employer.
Should monthly food vouchers be issued in each company, should they be paid when we are on leave?
As it turned out, food funds provided to employees by the employer in the form of food vouchers are not an element of their remuneration. Therefore, they are not the basis for calculating benefits in the event of termination of employment.
Food vouchers are provided under conditions agreed between the employer and the representative(s) of the employees and/or the representative(s) of the nationally represented trade unions in the enterprise.
The food vouchers provided are a means of exchange, through which users receive food and food products for the nominal value of the vouchers in restaurants, fast food restaurants and food outlets, including grocery stores, supermarkets, hypermarkets, etc., operating in accordance with the requirements of the Food Act.
The provision of food vouchers can be done with the means of social and cultural services to employees, as food vouchers are social benefits provided in kind to employees when they are provided in the order and manner specified in the law.
Vouchers may be granted only for the days on which the employees actually worked, if this is explicitly stated in the decision of the general meeting of employees. Upon termination of the employment relationship or the management contract, anyone who has received food vouchers is obliged to return the unused vouchers to the employer. The employer does not owe food vouchers for the period from the date of dismissal to the date of reinstatement of the person at work.
Reference:
Art. 2, para. 1 and art. 14 of Ordinance № 7 of 9.07.2003 for the conditions and the period for issuing and revoking the decision to carry out the activity as a food voucher operator and to carry out the activity as an operator
Art. 293 of the LC
Art. 294 of the LC
