Entrepreneurship Expert: Bulgarian Govt Should Consider Import Restrictions
Bulgaria's government should consider introducing import restrictions if it wants to support small and medium-sized enterprises, according to Vin Morar, entrepreneurship development specialist.
In a Thursday interview for Darik radio he said that Bulgaria had to focus mainly on the spheres of agriculture, tourism, and innovation.
Morar was adamant that Bulgaria had very qualified workers who had to be motivated to generate new ideas.
"I believe this and it has been proven in many poor countries like India that although the people are poor, it is ok to do business there. The key is in the fact that even poor countries need different things, but they buy selectively, with priority being given to first necessity goods. However, they can buy as much as to ensure a sufficient return to the small business. For instance, you can sell various items in smaller quantities, releasing smaller packages and series. It is only logical - poor people also need to survive, they need food and clothes. This is why the products must be adapted to the needs of the poor," Morar explained.
Asked how small businesses in Bulgaria were to react to cheap Chinese import and cheaper imported goods offered by large retailers, the expert said: "Firstly, the government must move to help small business, for instance by introducing import restrictions, and secondly, small businesses must answer the question why these products come from China and are not produced here."
"Naturally, products of other countries will not disappear, but small businesses can still try to compete with them. If this does not happen, companies can focus on the service sphere. The issue of technologies and investing human resources into service offering resurfaces here," the entrepreneurship expert commented.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Spurred by Film and TV Production, Canadian Entertainment Industry Continues to Surge
- » Bulgaria: Inspections of Fast Loan Companies are starting all over the country
- » Bulgaria: Natural Gas in June will become cheaper by 15% thanks to the Azeri Gas Interconnector
- » Bulgaria: The Budget Committee accepted the Budget Extension
- » Bulgarian National Bank: We are on the Final stretch on the Road to the Eurozone
- » Bulgaria imported over 55,000 tons of Fresh Vegetables and 66,000 tons of Fruit in January and February