06.11.2023 Iliya Karanikolov: BDB gives small businesses a chance to overcome difficulties

"The smaller a company is, the more difficult it is to get financing to develop its potential. It is no coincidence that all the programs we develop at the Bulgarian Development Bank are focused on micro, small and medium-sized businesses. We invest in their future." This was stated on the "Business Start" program on Bloomberg TV by Iliya Karanikolov, Chairperson of the Management Board and Executive Director of BDB.

The occasion for his visit was the upcoming INVESTOR FINANCE FORUM on November 7 – the largest event of the financial and investment community in the region.

Mr. Karanikolov also commented on the interest of foreign investors in Bulgaria, which has never waned but has had ebbs and flows, taking into account the different economic cycles.

He analysed the business environment in Bulgaria and the possibilities of access to resources for small and medium-sized companies. "Those who reach a turnover of up to BGN 1 million experience the greatest difficulties in securing collateral and sufficient self-participation," the Executive Director of BDB pointed out.

To help entrepreneurs, in the last few months BDB has launched a program to accelerate the absorption of European funds, as well as the “Sustainability” and “Innovation and Digitalisation” windows of the InvestEU Programme.

"With the bank's participation in the European resources, we will support small and medium-sized businesses to overcome market discrepancies in key areas," Iliya Karanikolov said.