site.btaBulgarian Industrial Association Survey Suggests Lack of Skilled Labour Is Biggest Issue for Businesses
NW 19:12:01 16-12-2019
PP1909NW.107
107 ECONOMY - BULGARIAN INDUSTRIAL ASSOCIATION - SURVEY
Bulgarian Industrial Association Survey
Suggests Lack of Skilled Labour
Is Biggest Issue for Businesses
Sofia, December 16 (BTA) - Nearly 70 per cent of surveyed entrepreneurs consider the lack of skilled labor as the biggest obstacle in their work, said Bulgarian Industrial Association (BIA) Chairman Radosvet Radev at a BTA press conference. He presented the annual survey among BIA members on the business climate over the past year and expectations for 2020. The survey was conducted between November 10 and December 10 among 792 company managers.
One of the main obstacles to business development, according to 68.2 per cent of the respondents, is the lack of skilled labor, with a the most significant shortage being that of specialists and executive staff (the most common deficits in the workforce are in the field of management, professional and technical/technological skills). For 60.2 per cent the biggest obstacle is bureaucracy and for 59.1 per cent it is corruption.
About 18 per cent said that the business climate has improved, which indicates cautious optimism about the economic environment compared to the previous year, said Radosvet Radev.
Among the proposals for regulatory changes during the year, the proposal for eliminating the obligation of employers to pay the first three days of their employees' sick leave has the highest approval (80 per cent). About 63 per cent of respondents encourage the facilitation of procedures for attracting third-country workers. In terms of Bulgaria's accession to the Eurozone, there is a serious fluctuation in the business environment: 41 per cent support it, 39 per cent oppose it, and 20 per cent find it difficult to judge the pros and cons of such a move.
The data breach at the National Revenue Agency this summer did not cause difficulties in the direct work of companies, but created serious skepticism regarding the ability of public institutions to store sensitive data, shows the study. Businesses value access to credit and access to justice in 2019 is less than in the previous year.
The Presidential Institution and the Ombudsman are the highest rated institutions and the judiciary and the National Assembly are the lowest rated ones.
According to the study, the total amount of overdue receivables decreased from the previous year from 82 per cent to 61 per cent, with a serious increase in overdue receivables from counterparties (33 per cent in 2019 compared to 11 per cent in 2018).
Businesses expect some stagnation in 2020, Radev noted, as energy prices, commodity prices, inflation, fiscal and regulatory burdens are expected to rise in the next year. Compared to last year's survey, the job growth forecast is significantly more moderate (28 per cent, down from 36 per cent the previous year). RY/DT
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PP1909NW.107
107 ECONOMY - BULGARIAN INDUSTRIAL ASSOCIATION - SURVEY
Bulgarian Industrial Association Survey
Suggests Lack of Skilled Labour
Is Biggest Issue for Businesses
Sofia, December 16 (BTA) - Nearly 70 per cent of surveyed entrepreneurs consider the lack of skilled labor as the biggest obstacle in their work, said Bulgarian Industrial Association (BIA) Chairman Radosvet Radev at a BTA press conference. He presented the annual survey among BIA members on the business climate over the past year and expectations for 2020. The survey was conducted between November 10 and December 10 among 792 company managers.
One of the main obstacles to business development, according to 68.2 per cent of the respondents, is the lack of skilled labor, with a the most significant shortage being that of specialists and executive staff (the most common deficits in the workforce are in the field of management, professional and technical/technological skills). For 60.2 per cent the biggest obstacle is bureaucracy and for 59.1 per cent it is corruption.
About 18 per cent said that the business climate has improved, which indicates cautious optimism about the economic environment compared to the previous year, said Radosvet Radev.
Among the proposals for regulatory changes during the year, the proposal for eliminating the obligation of employers to pay the first three days of their employees' sick leave has the highest approval (80 per cent). About 63 per cent of respondents encourage the facilitation of procedures for attracting third-country workers. In terms of Bulgaria's accession to the Eurozone, there is a serious fluctuation in the business environment: 41 per cent support it, 39 per cent oppose it, and 20 per cent find it difficult to judge the pros and cons of such a move.
The data breach at the National Revenue Agency this summer did not cause difficulties in the direct work of companies, but created serious skepticism regarding the ability of public institutions to store sensitive data, shows the study. Businesses value access to credit and access to justice in 2019 is less than in the previous year.
The Presidential Institution and the Ombudsman are the highest rated institutions and the judiciary and the National Assembly are the lowest rated ones.
According to the study, the total amount of overdue receivables decreased from the previous year from 82 per cent to 61 per cent, with a serious increase in overdue receivables from counterparties (33 per cent in 2019 compared to 11 per cent in 2018).
Businesses expect some stagnation in 2020, Radev noted, as energy prices, commodity prices, inflation, fiscal and regulatory burdens are expected to rise in the next year. Compared to last year's survey, the job growth forecast is significantly more moderate (28 per cent, down from 36 per cent the previous year). RY/DT
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