02.12.2021
THE DIGITALIZATION OF SMALL AND MEDIUM-SIZED BUSINESSES - HOW IMPORTANT IS COST CONTROL
On November 30, 2021, a webinar on "Digitalization of small and medium-sized businesses - the engine of financial management and cost control" was held, organized by Enterprise magazine.
The official partners of the event are the developer of business process automation software products Contro and the mobile payment technology company Settle.
The event was held with the support of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), the Bulgarian Industrial Association (BIA) and the Bulgarian Chamber of Commerce and Industry (BCCI).
Vladimir Minev, Director of the Directorate "Internationalization of SMEs" at BSMEPA, presented the National Strategy for Small and Medium Enterprises until 2027 and its priorities and goals.
The digitalization of SMEs is one of the six areas of impact included in the strategy - entrepreneurship, access to markets, access to finance, digitalization, business environment, environment, he said.
According to him, it is important for SMEs in Bulgaria to realize the importance of information technology in order to increase their profits. SMEs to take an active part in training related to digital technologies in order to improve the skills of their employees.
Vladimir Minev stressed that Bulgaria is the country in the EU with the weakest application of digital technologies in business, according to the DESI index.
He recommended that businesses review their processes, look for duplicate patterns, identify areas where the same information is entered more than once, to identify areas for digital transformation.
The digital transformation is a journey, not a one-time purchase, he said, advising not to rely on outdated technologies, not to invest in untested solutions and not to ignore information technology as part of the business.
Krum Alexiev, Director of Corporate Clients at Unicredit Bulbank, presented a forecast for the dynamics of Bulgaria's GDP and the country's macroeconomic framework in the context of the health crisis, a jump in fuel and electricity prices and a political blockade.
He also presented the bank's service model and business opportunities.
Yordan Karabinov, Managing Partner at Contro, spoke about the digitalization of control and cost implementation, presenting the company's practical solution together with Velizar Dimitrov, CFO of Novotel, users of the solution.
The software eliminates paper, provides real information in real time in order to make adequate management decisions, commented Yordan Karabinov.
Velizar Dimitrov pointed out that the hotel embarked on the journey to digitalization 7 years ago. The processes we control with this program are the approval of each expenditure by departments and items, the stages of contracts, control of expenditures on them. That is how we make informed and timely decisions, he said.
The software solution is also used as an archive because documents are not printed, he added.
The two demonstrated the possibilities of the solution in different situations.
Detelina Momcheva, Acting Country head, Settle Bulgaria, talks about innovations and trends in payment methods. She presented data according to which 4.4 billion users worldwide will use a mobile application for payment by 2025 compared to 2.6 billion in 2020; 3 trillion the dollar is the projected volume of the global mobile payments market by 2024; 68% of Europeans have a mobile wallet; 39% of consumers would use more mobile payments if merchants offer them.
In 2020, the use of mobile wallets when paying in physical stores will reach 26%, she added. 44.5% of consumers choose mobile payment when shopping online.
Nearly a third of Bulgarians refuse to shop in outlets that pay only in cash, added Detelina Momcheva.
Mobile payments guarantee security, remote payment, allow different sources of financing, do not impose restrictions on a bank or mobile operator.
Settle builds an ecosystem through which the user receives and sends money instantly, has access to a list of businesses and offers in the application, chats with other users, pays from any available card, transfers money to any available bank account.
With Settle, businesses accept payments from any location, reach more customers, accept on-site or delivery orders, and integrate solutions.
02.12.2021
SEVEN CHALLENGES FOR SAVING MONEY IN 2022
Did you know that if you want to save BGN 50 in a given month, it means that you need to set aside BGN 1.66 per day. In case you want to save BGN 100 per month, the amount is double - BGN 3.33 per day. Do you want more similar examples? Both at the end of each year and this year, we will present you several challenges to save money. We start with the smallest amount and move on to the more difficult tasks. Which challenge did you choose?
BGN 668 for the year
Everyone, even people working on the minimum wage, can meet this challenge. It is so easy. Start with BGN 0.01 a day and increase by another 1 stotinka every 24 hours. Thus, on the last day of the year you will have to set aside BGN 3.65. In total for the year this makes BGN 667.95.
BGN 1,378 for 2022
The year has 52 weeks. If in the first week of the year you save BGN 1, and in the second - two, etc., then at the end of the year you will have BGN 1,378. The amount may be enough for a vacation, a new phone, or repaying part of your loans.
BGN 2,425 for 52 weeks
Start with BGN 5 per week and every 7 days increase by another BGN 5 until reaching BGN 95. Instead of adding BGN 100 next week, go back to BGN 5 and start over.
BGN 2,766 for the year
And how about starting with BGN 2 per week and increasing with a new BGN 2 every 7 days. In other words, on the fifth week you will have to save BGN 10, and on the 20th week - BGN 40. In the last week of the year you will have the difficult task of setting aside BGN 108.
BGN 1,000 for the quarter, BGN 4,000 for the year
Given that you need BGN 1,000, you should know that the amount can be saved for 12 weeks, in which you spend BGN 84 each. This makes BGN 1,008 or BGN 4,032 for the year, if you think the challenge is worth it.
BGN 5,200 for the year
It may be difficult to save BGN 100 per week, but at the end of 2022 you will definitely be satisfied. 52 weeks pass quickly, and you will have a good amount to start an investment portfolio.
Only for professionals: BGN 10,000 per year
Given that you have a higher income, you should know that it is good to have savings, with which you can spend 6-8 months without work. The emergency fund can be replenished in a few months or a year or two. We challenge you to save BGN 125, 150, 175 and 300 every four weeks. Thus, at the end of the year you will have the round sum of BGN 10 thousand.
01.12.2021
THE CABINET HAS ALLOCATED NEARLY BGN 2.6 MILLION UNDER EDUCATION PROGRAMS
Today, the Council of Ministers allocated nearly BGN 2.6 million to finance activities under four national programs for the development of education. The funds are provided as additional transfers to municipal budgets for 2021, said the press center of the Ministry of Education and Science.
Most of the funding - just over BGN 1.7 million, is provided under the national program "Information and Communication Technologies (ICT) in the system of preschool and school education". They will be divided into two types of activities. BGN 1.2 million are for the implementation of educational electronic resources, vocational training software and electronic diary.
They will finance 1436 municipal schools, centers for special educational support and support for personal development, who want to use an electronic diary in the school year 2021/2022. Electronic diaries will be available through standard browsers and mobile devices, will have a module for parents.
Nearly BGN 86,000 are allocated under this program for 19 municipal high schools for the purchase of vocational training software. More than BGN 432,000 are received by 1,295 municipal schools, centers for support for personal development and for special educational support, which have requested funds for internet connectivity. Funds are allocated according to the number of students.
Under the national program "Together for each child" BGN 23,000 are allocated, which will support the teams for coverage in 51 municipal schools and 4 kindergartens. The funds are intended to finance the activities of the coverage teams, to develop and implement a set of measures for each child and student who has dropped out or is at risk of dropping out of the education system.
Nearly BGN 710,000 are allocated for eight municipal schools for their teams, which have prepared 27 textbooks in general education subjects in a foreign language.
BGN 118,000 under the program "Training for IT skills and career" will be distributed among three municipal schools, in which 119 students will be trained. 15 teachers will upgrade their skills for developing digital content and working in a digital environment. Eligible partners are universities and branch or professional organizations of companies in the IT sector.
01.12.2021
ANOTHER BGN 100 MILLION HAVE BEEN APPROVED UNDER THE MEASURE " KEEP ME +"
The government approved additional expenditures amounting to BGN 100m from the budget of the Ministry of Labor and Social Policy. The funds will be used under the measure "Keep me +" for the payment of compensation to employees and self-employed persons in the economic activities temporarily closed by an act of a state body due to Covid.
They will be entitled to receive funds in the amount of 75% of their insurance income for July 2021 for the days during which they used unpaid leave due to the imposed restrictions. By allocating the additional financial resource, about 60,000 employees will keep their jobs.
01.12.2021
NEW DEADLINES FOR TRANSFERRING THE SECOND PENSION TO THE NATIONAL SOCIAL SECURITY INSTITUTE
From the beginning of next year, new deadlines for the transfer of the second pension to the National Social Security Institute come into force.
From January 1, 2022 to December 31, 2025 a person will be able to change his insurance up to 1 year before reaching retirement age under Art. 68, para. 1 of SSC.
From 1 January 2026 to 31 December 2030 the term is extended to 2 years. From 1 January 2031 to 31 December 2035 it becomes 3 years, from 1 January 2036 to 31 December 2037 - 4 and after January 1, 2038 - 5 years.
At the end of June this year, another postponement for the transfer of the insurance for a second pension to the National Social Security Institute expired. This opportunity was given to people who missed the deadline to give up private pension funds. It provides for Bulgarians who until June 30, 2021 inclusive have less than 5 years to reach retirement age for the third category of work and who have not been granted a one-time pension, until June 30, 2021 to exercise the right of their choice to be insured only in the NSSI.
Everyone can check what pension they will receive through the NSSI electronic calculator and personal identification code.
01.12.2021
THEY GIVE GRANTS OF UP TO BGN 30,000 TO SMALL FARMS
The Ministry of Agriculture opened the reception under sub-measure 6.3 "Start-up aid for the development of small farms" of the Rural Development Program 2014-2020. The total amount of grants under the procedure is nearly BGN 40 million.
It aims to accelerate the modernization and technological renewal of small farms by increasing their economic development. Priority will be given to projects of candidates with education in agriculture, organic producers, as well as those who operate in mountainous areas.
Documents for participation can be submitted until 17:30 on 02.03.2022, and the full package can be found on the website of the Ministry of Agriculture, Food and Forestry: https://www.mzh.government.bg/bg/politiki-i-programi/programi-za-finansirane/programa-za-razvitie-na-selskite-rayoni/ and in the Information System for Management and Monitoring (UMIS 2020). The application and evaluation of proposals will be entirely electronic.
Potential applicants must be registered farmers and own a holding with a standard production volume (SPO) between the BGN equivalent of EUR 2,000 and EUR 7,999, inclusive.
The maximum amount of funds for one candidate is up to BGN 30,000, and their payment will be made in two stages. The first payment will be worth nearly BGN 20,000 and will be made within two months after the conclusion of the administrative contract. The final payment will be made after the exact implementation of the business plan, which will be certified by an on-site inspection by the State Fund "Agriculture" - Paying Agency.
We remind you that small farmers can use the services of the National Agricultural Advisory Service, which provides free of charge specialized consulting services, including the preparation of business plans for the sub-measure.
01.12.2021
ENTREPRENEURSHIP: HOW TRADERS CAN HAVE A SUCCESSFUL BUSINESS IN A PANDEMIC
To have a successful business in a pandemic, retailers need to turn stores into mini-distribution centers where customers can order online and pick up purchases, or arrange for immediate delivery. This is recommended by the international company Brother, the Bulgarian office of the company reports.
The announcement states that 34 percent of traders report an increase in revenue after offering an online ordering and collection service. Alternatively, traders can place orders for goods they have in stock and then distribute them through various delivery services.
During the strict restrictions associated with Covid, buyers felt very comfortable with faster contactless payment options, which they considered safer and more hygienic. Merchants are exploring options that allow consumers to pay according to their preferred method - whether they use a card, their phone or even portable technologies such as smart watches.
Traders who show social responsibility during a pandemic will gain more customers when life returns to normal, Brother said. Nearly two-thirds of consumers say ethical practices, such as fair pay, community contribution and care for the environment, are becoming increasingly important to them as a result of the pandemic. This position is most pronounced among buyers between the ages of 18 and 34, according to the company.
Most social platforms have embraced the possibility of "social trading". Facebook, Instagram and Snapchat have already introduced e-commerce features, and TikTok is testing e-commerce features in Europe, experts say.
30.11.2021
NATIONAL CONFERENCE "MEDIA LITERACY AGAINST DISINFORMATION"
The conference will be held on December 2, 2021 in a hybrid format, with only speakers and participants in the discussions will be physically present in the conference room, and everyone else will be able to watch and join in real time online on the Facebook page of the Coalition for Media Literacy.
In 2021, the conference focused on the development of lifelong media literacy as a countermeasure against disinformation campaigns. During the conference, current projects for the development of media literacy through and outside the education system will be presented, covering from the youngest to the oldest citizens of Bulgaria.
What are the problems and possible solutions, as well as what are the best approaches when working with each group, will be discussed by representatives of the civil sector, media, government institutions and business in the three thematic panel discussions of the event:
Media misinformation and its consequences
Media literacy in every subject live and online
Media literacy and lifelong learning
Special guests of the event are Martina Chapman [Media Literacy Ireland] and Christina de Brown [UNICEF in Bulgaria]. You will be able to hear their speeches immediately after the official opening of the conference.
The discussions will be moderated by: Vesislava Antonova (Manager magazine, National Council for Journalistic Ethics), Maria Cheresheva (Association of European Journalists-Bulgaria, Darik Radio) and Yana Peeva (Teen Station).
See the full program and information for all conference participants.
NB: No registration is required to be in the conference audience. Everyone will have the opportunity to follow the forum live on Facebook and ask questions to participants on the three main topics via a message under the stream or via Sli.do.
Official website of the conference in Bulgarian and English versions: https://conference2021.gramoten.li
29.11.2021
TIPS FOR YOUR RELATIONSHIP WITH YOUR LINE MANAGER AND CO-WORKERS
You will probably sit down with your supervisor during your first working days to discuss your position and responsibilities in detail.
Ask this type of meeting to continue during your first working weeks to inform him how you are doing, what questions and ideas you have, what difficulties you are facing, and what suggestions you have for solving them.
You can discuss with him everything related to work, the company and how you feel there. However, do not bother him with small problems. For them, ask your colleagues for help.
Find out what your key priorities are and the problems your manager expects you to address (and why you were most likely hired), as well as what the key metrics are for measuring your job performance.
Find out how often he wants to be informed about your progress (every week, month or other time interval), and in what form and in what way he prefers to provide him with this report - orally or by email.
Ask your supervisor for feedback each week to know what you are doing well and what you need to improve. This is the only way to find out if you are on the right track and how you are doing your job. The feedback will also help you set future work goals.
Do not share problems with your supervisor without offering them two or three possible solutions. Describe several possible scenarios, discuss the pros and cons of each and come up with the right solution together. This will make you look like a person capable of solving problems, not just complaining about them.
TIPS ON YOUR RELATIONS WITH YOUR COLLEAGUES
It is extremely important to start making new contacts on your first day of work.
Whenever possible, communicate with colleagues in person, rather than by email or phone.
Save and use as many names as possible.
Introduce yourself to your new colleagues and find out what each of them does and how long they have been in the company.
Also get to know employees working in different departments in case you need their help.
If you are invited to have a drink after work - go! Talking to colleagues outside of your workplace will help you get to know them in their true light, as well as build good relationships with them.
Schedule meetings yourself (or with the help of your manager) with those employees who know your field of work best or are related to your work. Ask them what they think your responsibilities are. You can learn a lot about their expectations of you this way.
Big or small, it doesn't matter. If you watch carefully, you will recognize the opportunity to help someone. Not only will you be satisfied that you have helped, but your colleague will be grateful and remember you.
Try to find out who the key employees of the company are, as well as those who have the right to make decisions (they are not necessarily in management positions) and start building good relationships with them. Invite them periodically for coffee or lunch to find out how the company works and who the people behind its success are.
29.11.2021
ONE IN FIVE PEOPLE IN BULGARIA IS HARASSED AT WORK
A disproportionately high share of the injured employees are women, it is clear from CITUB information
Every fifth working person in Bulgaria is subjected to mental harassment by his manager or colleague.
Such cases have become more frequent in the last year, according to the data from signals for violations received in CITUB, announced the national secretary of the union Todor Kapitanov, quoted by the website of the Bulgarian National Radio.
The data show that a disproportionately high proportion of injured employees are women, and the largest number of complaints is in the age range 26-45 years.
"Insults, raising the tone, threats and the like are part of the daily life of 20% of workers in Bulgaria, as 70 percent are women, 30% are men. Most complaints are in the age range 26-45 years," said Kapitanov.
"It is really inexplicable how in the 21st century there are still leaders and colleagues who cross moral and legal boundaries by insulting and threatening their colleagues and subordinates. It should be clear that such actions are in violation of the Criminal Code and the Law on Protection against Discrimination, "he said.
The Criminal Code provides for sanctions for public insults. Workers must report to the employer and he must carry out an inspection immediately.
