The role of the small- and medium-sized enterprises (SMEs) sector in the Bulgarian economy is growing, the chairman of the Agency for Small- and Medium-Sized Enterprises (ASME) Angel Despotov announced this week.
Banks' interest to SMEs has increased and the relationship between business and lending institutions are being normalised, however the credit interests and collaterals are considered an obstacle. State financing opportunities through various guarantees schemes or co-financing are still not implemented. The country's improved credit rating will also influence both the micro and the macro economy, Despotov added.
In 2002, the number of SMEs stood at 202,309, accounting for 99.1 per cent of the total number of companies in Bulgaria. Statistics show that micro companies have the greatest share of the SME sector – 90.8 per cent. SMEs generate 34.2 per cent of the total gross added value.
