Bulgaria's Eurozone Entry: Small Business to Lead with Stability and Trust

Business | June 8, 2025, Sunday // 11:46
Bulgaria: Bulgaria's Eurozone Entry: Small Business to Lead with Stability and Trust

Small businesses in Bulgaria will once again rise to the occasion and demonstrate their social responsibility. That was the message of Eleonora Negulova, chair of the National Association of Small and Medium-Sized Businesses, during her interview with the Bulgarian National Radio. Her remarks came after the European Commission's latest convergence report confirmed that Bulgaria is expected to join the eurozone as of January 1, 2026.

Negulova reminded that during the Covid crisis, small businesses were among the most socially responsible players. According to her, the transition to the euro is not an extraordinary event. It has been anticipated for years, and the business community has been gradually preparing. Many already display prices in both leva and euros, and converting between the two is a simple calculation, she said.

The only significant preparations left are technical in nature - mainly updating fiscal devices and ensuring that businesses can give change in euros, including coins, while still accepting leva. “These are small, technical adjustments. Basic things that each small business needs to take care of,” she explained.

Negulova also addressed concerns about unfair pricing or trade practices. She noted that there are sufficient mechanisms in place, both from the state and within the market, to deal with such behavior. According to her, even if someone tries to act unfairly, they will soon become uncompetitive and be forced to adjust. “You can act like Andreshko for a month or two, but the market always catches up,” she said. In her view, any attempts to exploit the currency changeover for unfair gains will remain isolated incidents, not a widespread trend.

Consumers themselves should remain alert and compare prices. In small towns and neighborhoods, local shops operate on the basis of trust within the community, which makes price manipulation much harder. While there may be minor price rounding at the start, it would likely amount to no more than a cent or two.

Negulova emphasized the need for active involvement from both responsible institutions and business organizations throughout the process. The conversion of bank accounts poses no real issue, but she pointed out that there are formal steps to take, such as adjusting employment contracts, salary documents, and updating proposals with partners.

She concluded with a call to her colleagues in the business sector: to show once more that small enterprises are not only Bulgaria’s largest employers and taxpayers, but also the most consistent and reliable allies of the Bulgarian people.

Business » Be a reporter: Write and send your article
Tags: businesses, Bulgaria, euro, Negulova

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria