Bulgarian Businesses Raise Concerns Over Regulatory Hurdles and Staffing Shortage

Business | December 19, 2023, Tuesday // 12:00|  views

Photo: Stella Ivanova @novinite.com

Amidst a recent study by the Bulgarian Industrial Association on the country's business climate in 2023, several key concerns have emerged among the business sector. The study revealed that a significant portion of managers, around 62%, highlighted excessive state regulations as a major hurdle, while 61% cited the challenge of coping with frequent changes in regulations. Corruption also remains a prominent issue, with 59% of enterprises pinpointing it as a key obstacle.

Moreover, dissatisfaction with the justice system (41%) and administrative services, particularly the lack of electronic services (43%), were notable grievances among surveyed businesses. Infrastructure concerns were voiced by 15% of respondents.

Perhaps more alarming is the revelation that one in every three respondents expressed unease over the negative perception propagated toward businesses, indicating a prevailing sense of discomfort within the business landscape.

On another note, there's been a noteworthy shift in sentiments regarding Bulgaria's potential Eurozone accession. The study showcased an increase in support, with 60% of enterprises backing Bulgaria's integration into the Eurozone, marking a significant rise from 47% in 2021. Concurrently, the percentage of undecided respondents dropped significantly from 27% to 13%.

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Tags: Bulgarian, business, challenges, Eurozone


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