Bulgarian business looks optimistic and confident in 2018

"Bulgarian companies are more optimistic about next year, expect more sales abroad and stable employment" BCCI Chairman Tsvetan Simeonov said at a press conference in announcing the results of a BCCI survey among 602 companies from Bulgaria. The survey is part of a large-scale business survey in Europe  (European Economic survey – EES 2018)  involving over 50,000 companies from 23 countries.

Nearly 63% of the surveyed companies in Bulgaria expect an improvement in the business climate in 2018, while in 2017 their share was 38%. However, access to qualified staff and uncertainty in domestic demand are the main concerns for companies. Companies are concerned that they will be unable to cope with the growing demand for their products and services because it is difficult to find workers with the required profile.

For one more year, companies have improved export expectations - nearly half of respondents predict higher sales abroad in 2018. Although sales expectations in the country are booming, businesses are placing insufficient demand on the domestic market as the second biggest hurdle. Strengthening domestic demand will rather increase imports.

A good outlook for the resumption of investment activity next year is expected by 47% of respondents. For employment, the forecasts show stabilization and even slight growth - the overwhelming majority, around 55% of employers, expect to keep their staff numbers

In the detailed study report, the Association of European Chambers (EUROCHAMBRES) draws attention to the need for administrations to continue to support economic recovery by implementing sustainable, growth-friendly policies and minimizing the regulatory burden on European businesses.

“Traditional questions about the difficulties encountered by Bulgarian companies are the most important thing that conceives our existence as a non-governmental organization. We try to solve every day the difficulties that the business has in its activity, "said the President of the BCCI.