We understand the need to encourage start-up entrepreneurs and we are ready to consider more effective formats for their support. This was stated by Dr. Takov, Director of the Executive Agency for Encouragement of Small and Medium-Sized Enterprises, during a meeting with BCause Foundation Executive Director and representatives of the non-governmental organization.

BCause Foundation is an expert organization, a leader in the promotion and support of donating causes with over 20 years of practice at national and international level. At the meeting, ideas and opportunities for cooperation were discussed specifically on the promotion of projects and entrepreneurs who have the potential but lack the necessary financial resources and knowledge of business management, the opportunities and challenges of emerging foreign markets.

Dr. Takov explained that the agency could support similar businesses in several areas. Experts of BSMEPA could advise entrepreneurs wishing to position themselves in foreign markets to approach potential partners from different countries. We could support the participation of young entrepreneurs in events and the establishment of contacts on foreign markets through the Bulgarian commercial attachés and partner organizations in the respective countries, the Executive Director added.

Ms. Barakova proposed the creation of a cooperation format, in which a series of exchange meetings will take place, where young entrepreneurs will hold individual talks with representatives of financial institutions and investment funds. Dr. Takov supported the idea by acquainting BCause representatives with the opportunities in these meetings to involve experts from the EBRD and Bulgarian Development Bank, in whose portfolios there are a number of tools for support of small and medium-sized companies and which, besides funding, offer a high level of consultancy services.

Another idea that emerged during the talks is the mapping of the ecosystem to support small and medium-sized enterprises where all the tools to promote the various stages of company development are presented.

The Executive Director of BSMEPA acquainted the participants in the meeting with the idea of ​​the Agency to organize a meeting of the Bulgarian business with the foreign trade attachés in our country. Thus entrepreneurs will be able to get first-hand information about the prospects and risks of different markets, the regulatory environment, the specific interests of certain products and the potential costs of their import into the country, Dr. Takov stressed.

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