Bulgarian businesses are facing additional costs as they prepare for the mandatory dual currency display of prices in leva and euros, a requirement set to take effect on August 8. They have until the end of October to adapt their cash register systems and accounting software without risking financial penalties.

Eleonora Negulova, chair of the National Association of Small and Medium-sized Businesses, explained on Bulgaria ON AIR that the necessary adjustments include reconfiguring cash registers to process and display prices in both currencies. According to her, the average cost for modifying a single cash register is between 250 and 300 leva, depending on the servicing company. This price covers the new software installation, which ensures that both currencies appear on fiscal receipts and reports, as well as the renegotiation of service contracts with cash register maintenance providers.

So far, Negulova noted, there has not been a general increase in the cost of maintaining the registers. However, the changes demand time, financial investment, and a level of digital competency that may prove challenging for some. Many small business owners, she said, need support and training to complete the process, particularly those unfamiliar with technical procedures. In many cases, the updates can be performed remotely, but still require a basic level of digital literacy.

Negulova stressed that the dual pricing requirement comes with considerable responsibility. Businesses must ensure that the display of prices in both currencies is equal in size, font, and color, in order not to mislead consumers. Promotional prices and discounts present additional complications, requiring further attention to detail.

Despite the challenges, she described the institutions’ approach as understanding, pointing out that instead of rushing to issue fines, authorities will initially focus on providing guidance and recommendations. This, she said, gives businesses a valuable grace period to complete the transition.

Negulova concluded that although the shift entails costs, both financial and in terms of effort, it could ultimately benefit businesses by improving organization and preparing them for the eventual transition to pricing exclusively in euros. “Every change comes at a price, and that price isn’t always just measured in money,” she remarked.