Big Businesses Operating in Small Bulgaria
Friday, 07 October 2016
One tenth of the largest companies across Southeast Europe operate in Bulgaria, the annual chart of ЅееNеwѕ ТОР 100 ЅЕЕ 2016 suggests. These are mostly run in the sectors of energy and heavy industry - the biggest oil refinery in this country, the Russian Lukoil Neftochim Burgas, the German copper production company Aurubis, the National Electric Company, Kozloduy Nuclear Power Plant and others.
There are 18 banks operating in Bulgaria as branches of the region's Top 100 banks. 22 insurance companies on the Bulgarian market are also ranked among the Top 100 in this part of Europe.
All this suggests that although small-and-medium enterprises (SMEs) are the backbone of Bulgaria's economy with 65 percent of all employed, this country is also a place for big business on a European scale.
SMEshave got a few trump cards in a competitive environment - flexibility, adaptability, the capacity to occupy every new market niche and to abandon quickly markets with no future. However, the big players are big, meaning that their potential to introduce innovations, manufacture cheaper products and satisfy mass and lasting needs is much greater. In practice SMEsand the blue chips in economy complement and are useful to each other.