The largest donors for small and medium-sized businesses in Bulgaria are PHARE program, the US Agency for International Development, as well as the British Know-How fund, Alexander Babinov, Chief Secretary of the Agency for small and medium-sized enterprises, said. The PHARE project concerns increasing the Agency’s capacity, as an institution for developing the Cabinet’s policy on encouraging the small and medium-sized businesses in Bulgaria. The project with the British Know-How Fund, which was started two years ago, has been extended by yet one more year, which proves that the British fund recognizes the usefulness of the project, Babinov pointed out.

According to him most of the joint projects with the US Agency for International Development focus on increasing Bulgaria’s competitiveness and improving the dialogue between the state-owned and private sector. Bulgaria’s higher competitiveness is also the aim of the national strategy for small and medium-sized enterprise, he said. The strategy includes seven main priorities, which aims to simplify the administrative and normative conditions. Another move in this direction, according to Babinov, is the company’s access to different financial instruments. The seventh priority is the encouragement of entrepreneur spirit and skills.

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