Local business sets record growth. Local business is crumbling down.
What are the Pros and cons of Bulgarian companies? You would find both types of headlines these days in the newspapers, websites and quotes of some politicians. This depends on which side of “government – opposition” leans on the one who claims either of both statements. And the story about Bulgarian companies really has two sides. Objectivity calls for an honest look from all angles! Though this article would rather not tell all the Pros and cons of Bulgarian companies.
Let’s first take few glimpses on the brighter side. There are more business entities from Bulgaria than ever before in top 500 of the biggest companies in Eastern and Central Europe – official data from the rankings of Cofface EEP. Localizing the top 100 of Bulgarian companies would bring us to the conclusion that this group records increment of 146 percent regarding incomes. Bulgarian business and production increase its impact and success on the European market.
On the other hand still, lots of firms in the country operate on the gray market. Three out of ten, a significant share though shrinking a bit compared to previous data. The short living existence of Bulgarian companies is a tendency that brings, even more, concerns. Actually below 5 percent of enterprises founded in 2010 are still active in 2016. And almost half of local entities are one-man show – they hold no employee and the only one who works in is the owner.
These were just a few examples of positive and negative trends in Bulgarian business recently.
The economy of the country as a whole is on the rise according to the official stats and still, a number of problems and challenges has to be overcome. If you want to be on the bright side, the team of www.BulgarianLaw.co knows how to put you on the right track. We’ll tell a secret – many of those who didn’t endure more than 5 years didn’t ask for advice.