Joint initiatives on focus to promote entrepreneurial relations between Bulgaria and the UK

Anna Rosloniets, Investment Advisor for Central and Eastern Europe in the National Organisation for Trade and Investment in the UK (United Kingdom Trade and Investment - UKTI), visited the BCCI and met with President Tsvetan Simeonov. The purpose of the meeting was to promote entrepreneurial relations between Bulgaria and the United Kingdom and to present the advantages for start-up companies that the UK offers. In addition to stability and feasibility of policies, foreign companies may also rely on:

• More visibility and credibility towards the companies who want to export to the UK
• Access to the headquarters of the big companies, as half of the European headquarters are based in the UK
• Low tax rate (10%) for companies, generating their income from patented products/services. Further reduction for R&D companies
• Fast connections between business and research - companies could easily find partners from academia or research centers
• Big local market and customers who are open to new products. Highly developed e-commerce
• Easy access to finance – UK has the second strongest venture capital in the world. In addition, there are well developed networks of business angels and government funding for research

The meeting was attended by the Directors of the "International Cooperation" Directorate Gabriela Dimitrova and "European Innovation and Information Center" Eleonora Carnasa. They discussed possibilities for joint initiatives in support of internationalization of the Bulgarian business, as well as the upcoming business forum between the British and Bulgarian companies.