SMEs Create 90% of Jobs in Bulgaria

SMEs Create 90% of Jobs in Bulgaria

Small and medium-sized enterprises (SMEs), which jointly account for 95% of local companies, create 90% of all jobs in Bulgaria, according to a survey conducted by Bulgarian Institute for Market Economics (IME).

The typical Bulgarian company is a family business with two employees, as such business entities can be most flexible during an economic crisis, state-run Bulgarian News Agency (BTA) reported quoting data from the study.

According to official statistics, just 5% of Bulgarian SMEs export their production.

"These companies face the challenge of expanding their markets, including to third countries outside the EU, as well as of getting better access to EU funding," BTA quoted IME's executive director Svetla Kostadinova as saying at a news conference.

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