Банкеръ Weekly

Briefs

80% OF THE COMPANIES WILL GO BANKRUPT AS BULGARIA JOINS EU

Very few of the small and medium-sized enterprises will be able to meet the requirements of the European Union when Bulgaria becomes its member, the National Enterprise and Craft Chamber and the Encouragement of Foreign Investments and Development of Small and Medium-Sized Enterprises International Centre alarmed. The experts of the two organisations explain that smaller businesses are totally unaware of the agreements reached by the rulers and the EU when they closed the negotiation chapters. A clear strategy should be prepared for development of small and medium-sized business in Bulgaria and this strategy should have clear financial and institutional framework, Alexander Banev, Chairman of the National Enterprise and Craft Chamber, announced. According to information from non-government and branch organisations, some BGN2BN are needed to harmonize the operations of the Bulgarian companies with the European standards. The chamber also insisted a special fund to be established for providing small and mid-sized enterprises with ISO 9000 certificates. Right now in Bulgaria there are only foreign companies that provide ISO certificates. Bulgarian companies find it difficult to pay their charges which vary between EUR500 and EUR600 per hour, Alexander Banev said. The chamber is also dissatisfied with the results shown by the Agency for Small and Medium-Sized Enterprises, which should act as intermediary between the business and the state administration.

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