site.btaState Agency Announces Successful Completion of Project in Support of Bulgarian SMEs Internationalization

State Agency Announces Successful Completion of Project in Support of Bulgarian SMEs Internationalization
State Agency Announces Successful Completion of Project in Support of Bulgarian SMEs Internationalization
Photo: Elena Nestorova

The project for the internationalization of the Bulgarian economy by facilitating the access of Bulgarian small and medium-sized enterprises (SMEs) to targeted foreign markets and providing conditions for their good positioning and sustainable presence internationally has been successful, the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) said during a conference on the results of the activities of the project, funded by the Operational Programme "Innovation and Competitiveness" 2014-2020 and implemented by Agency Monday.

The project, which started on June 28, 2019, has supported a total of 1,592 enterprises through participation in trade missions, business forums and conferences, which is double the target indicator of 750 enterprises. The number of overseas trade missions also exceeded the original target of 15 missions by 9 missions. 252 SMEs participated in these missions. Over 62% of firms expect at least one export contract and nearly 39% expect more than one. The countries with which BSMEPA has established partnerships are in Europe, North America and Asia. The project expires tomorrow, but BSMEPA expects its extension and expansion.

Project coordinator Lachezar Petkov said that BSMEPA has four main points - helping the digital transition of Bulgarian SMEs, promoting the innovative development of the Bulgarian economy, increasing Bulgarian exports and promoting entrepreneurship in the country.

Petkov pointed out that SMEs account for 98% of all enterprises in all sectors and industries, which create 75% of employment in Bulgaria. They account for half of exports and 65% of value added.

/VE/

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By 07:22 on 05.06.2023 Today`s news

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