11:35

31.07.17

1 min.

Eight Thousand Company Owners Sell or Close Their Business in a Year’s Time

Standartnews |

Eight Thousand Company Owners Sell or Close Their Business in a Year’s Time

(July 31, 2017, Sofia) – Eight thousand small businessmen sold their companies or closed them down in 2016, the national statistical institute has said.


Experts say the small and medium sized businesses in Bulgaria cannot survive the tough competition from abroad. As a result, the number of SMEs in the country has been falling for several years now, along with that of freelancers.


The statistical institute also reports that about 22,000 Bulgarians lost their job in 2016.


Many of the working Bulgarians live on or just above the poverty line, while small merchants and company owners prefer to sell their business, or shut it down – this tendency is observed not only in Bulgaria, but throughout the EU, despite the fact that the bloc's common economy is growing.



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