Business in Bulgaria: The Positive Approach

As Bulgarians took to the streets in 2013 in daily protests in front of the parliament – the main reason being the struggle on every level with corruption for years, the big question IS Bulgaria a good place to start or outsource business ideas was on any entrepreneur’s mind. Previous governments have passed mild and non-sufficient reforms to make doing business cleanly a little easier, for example introducing the 10% flat corporate and income tax , yet the problem with the grey economy and the bribes is a challenge for the country’s leaders.

The main problem, as prominent young leaders and entrepreneurs see it is the growth in higher-value-added work. Foreign companies tend to outsource and move their low-skilled departments to Bulgaria. This is unfortunate as the country boasts with good schools and universities.

The biggest problem Bulgaria has never been it’s education system, prove not only the successful Bulgarians abroad, but the tendency that is unique for Europe – even the poorest family would (and is) pay so their child will graduate in an University. Starting business in Bulgaria should start with this in mind.

The successful formula for business success in Bulgaria seems to be to use the well-educated work-power, produce for export and be the first in the innovative technologies. Enterprises that require state’s support would be a challenge though. Bulgarian entrepreneurs confirm things are not as bad as local medias tend to describe them. EU membership and years of rising living standards have raised ordinary people’s expectations. If businesses meet them it will be despite the government, rather than with its help.