Entrepreneurship Expert: Bulgarian Govt Should Consider Import Restrictions

Business | October 4, 2012, Thursday // 16:42
Bulgaria: Entrepreneurship Expert: Bulgarian Govt Should Consider Import Restrictions According to entrepreneurship expert Vin Morar, the Bulgarian government should discuss import restrictions as a measure to support small and medium-sized businesses. Photo by dariknews.bg

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.

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Tags: small and medium-sized enterprises, entrepreneurs, imports
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