A Guide for SMEs has been published on the website of the Ministry of Economy

A Guide for SMEs has been published on the website of the Ministry of Economy

The Ministry of Economy would like to announce that A Guide for SMEs has been published on the website of the Ministry of Economy. The Business Guide has been specifically designed to facilitate the entrepreneurs’ search for information and access to legislation, and to help businesses in the process of dealing with the most complicated administrative procedures in Bulgaria.

“A Guide for SMEs” is developed under the project “Tools for assisting SMEs in Bulgaria with regulatory compliance“. The Ministry of Economy is the beneficiary under the project, which is financed by the EU through the Structural Reform Support Programme*. It was implemented by PWC, in cooperation with the European Commission’s Structural Reform Support Service. With the new web Guide, the entrepreneurs will benefit from fast and easy access to simplified presentations of a large number of business operations that are challenging and cumbersome, especially for small enterprises and start-ups. At the same time, the Guide will provide benefits to all businesses, whether they are starting now, trying to expand or ceasing their activity.

The web tool was developed through ample data collection and consultation of business representatives in Bulgaria, including surveys and interviews with a special focus on small and medium-sized enterprises.

Technical support was provided to elaborate simplified descriptions for more than 120 most common and complex regulatory norms applicable to SMEs, classified according to the stages of the life cycle of enterprises. Their purpose is to explain and direct SMEs to deal with a variety of business situations such as starting a business, administrative management, financial and accounting operations, commercial activities, personal data protection, participation in procedures under the Public Procurement Act, R&D, change in the business structure or termination of the business operations. The Guide contains numerous references to other institutions, programs and sample documents and templates, and thus provides quick access to information and facilitates in the entrepreneurs’ efforts in dealing with a variety of administrative procedures.

The “Guide for SMEs” was launched on 16 April 2019, in the presence of representatives of businesses and their support organizations, public authorities, the European Commission.

The Guide for SMEs is available on the website of the Ministry of Economy, both in Bulgarian and in English.