Bulgarian SMEs meet EU standards

There is good news for SMEs doing business in Bulgaria : As was reported by the portal, companies with an annual turnover not exceeding 49 million Euros and with less than 250 employees are categorized as small and medium-sized entities (SMEs) from now on. This is laid down in two amendments on SMEs which were passed by parliament on second reading.

Also new is the definition of a very small company which has a maximum annual turnover of 10 million Euros and less than 50 staff. As micro companies will be classified entities with an annual turnover of less than 2 million Euros and less than 10 employees. These new standards correspond to those in the EU and will take effect upon Bulgaria´s joining the EU. GERMAN