Transcript
HOW TO STARTA BUSINESS IN
BULGARIA
Bulgaria is known for its picturesque nature and rich cultural heritage. According to the statistics, the country ranks third in Europe only after Greece and Italy for the number of its valuable archeological monuments.However in the field of investments it is still young.
The country has the appropriate business enviroment for the developement of entrepreneurship and the formation of prerequisities for increasing sustainable employment of the population in the region.
Bulgaria boasts a talented labor force, one of the lowest wage rates in EU, and a convenient geographical location. EU membership offers additional opportunities as Structural and Cohesion funds are funding major infrastructure projects.
Good prospects for exports to Bulgaria are listed below.
• Automotive • Aerospace and Defense • Environmental Technologies • Healthcare/Medical • Infrastructure Projects and Real Estate Development • Information and Communication Technologies • Power Generation and Energy Efficiency • Travel and Tourism
Finding a good, reputable local representative is key in order to successfully enter the market, and conducting due diligence before selecting a representative is essential. Enlisting qualified local legal services for contract negotiations is also highly recommended.
Bulgaria offers foreign investors some of the world's most competitive business costs. Real estate investment has produced a plentiful supply of modern offices at very competitive costs. Corporate taxes and labor costs are quite low for European standards.
Bulgaria's working-age population consists of around 4.8 million highly educated and skilled men (52 percent) and women (48 percent). The aptitude of workers and the relative low cost of labor are considerable incentives for foreign companies to invest in Bulgaria.
In its annual 2002 report, the European Commission assessed Bulgaria as a fully functional market economy, with a high degree of macroeconomic stability and working market mechanisms.
.With many local and foreign investments, the
financial system is stable and banks are expanding their landing.
Bulgaria is making a considerable effort to offer the lowest corporate taxes in Europe. Corporate tax rate in 2007 went down to 10% and is already 0% in areas of high unemployment.
Compared to western European standards - Bulgaria is cheap. Investors can still find some outstanding values on the market and opportunities are plentiful. Come and discover.
Foreign investment in Bulgaria has never been so dynamic and so massive. During recent years, a significant number of international companies have opened offices in Bulgaria, just to name a few: Solvay, Umocore, Italcemente Group, Liebherr, Kraft, Nestle, American Standard, Philip Morris, Metro, Lindner, Praktiker and SAP.
Bulgaria has a very strategic geographic location. Its position on the European continent allows investors to reach the entire market of the European Union and the markets of central and eastern Europe, which represent a total population of
853 million.
Bulgaria and its capital Sofia offer a cosmopolitan quality of life that is regarded as among the highest in Europe. First time visitors to Bulgaria are often surprised by the diversity and stunning natural beauty.
As a result, today’s Bulgaria is ecologically one of the purest countries in Europe, with exceptionally clear air and water resources. There are 7 national parks, more than 3000 protected natural sites and 17 bio-spherical reserves (the greatest recorded number in Europe).
Not only is the quality of life in Bulgaria good, but the cost of living is one of the lowest in Europe. A meal for two, made from organically pure products and including a bottle of nice wine will not cost you more than seven or eight Euros.
Bulgaria has a traditionally strong education system. There are over forty Higher Education institutions in Bulgaria offering degrees at the undergraduate and graduate level.
There are 7 steps you should learn before you start a business in Bulgaria
1. What can I do?It is important to know what you are good at. So you
may know what business can you start. Do you have any capabilities and skills in driving, sewing, cooking, fixing electrical appliances and so on?
2. What do I have? A main advantage in starting a business is the property that you own. They could be:
Free accommodations
• Land
• Animals
• Machines and technical equipment
• Means of transport
3. What possibilities does the region in which I am living gives me?
• Traditionally developed activities
• Appropriate natural conditions
• Infrastructure
• Local programs for business
• Opportunities for hiring manpower
You can sell a product or a service which are in shortage on your market. Or you can improve the quality of the product that is already on the market.
4. What is sought on the market? What can I offer?
In the first year after the beginning of the project you should focus on the balance between costs and revenues.
In a long term plan you should expand your business and increase the amount of sales.
5. What do I want to accomplish?
6. Organizing the activityYou can create a :
• Sole proprietorship
• Partnership
• Corporation
• Cooperative
7. Ways of financing
• Equity
• Bank loan
• Loan Program
• Leasing
Successful business means:
To be independent
To love your work
To make good money
To develop yourself
We wish you this to be your way!
THE TIME TO INVEST IN BULGARIA IS NOW!
There's not another place like it anywhere else! From its sandy beaches to its stunning mountains, Bulgaria is blessed with more than its fair share of natural resources. Beautiful in nature, unique historically, rich culturally, and hot economically, Bulgaria has quickly emerged as one of the most exciting investment locations in Europe today!
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