Tools to assist SMEs in Bulgaria with regulatory compliance

for the Ministry of Economy, Small-and-Medium-Sized Enterprises

The Commission supported the national authorities in their efforts to develop web based, user-friendly tools for small-and medium-sized enterprises (SMEs) and to help them to better understand and comply with the regulatory framework.

Context

SMEs are the backbone of Bulgaria's economy but they encounter difficulties in complying with complex laws and rules.

Simple and accessible tools are needed to provide SMEs with adequate information and to alleviate the administrative burden.

Support to be delivered

The support was provided over one year in the form of expertise related to the collection of data and the development of web tools for SMEs.

It consisted of:

• identifying the most complex and common regulations affecting businesses in their interaction with the administration (surveys, interviews and consultations); and
• developing simple, business-friendly web-based descriptions of the 120 most complex and common regulations.

Results achieved

Support from the Commission delivered the following results:

• development of a new web-based tool for SMEs.
• And is expected to have the following impacts:
• improved administrative capacity of the ministry to support companies operating in Bulgaria;
• increased awareness by SMEs of their regulatory obligations;
• reduced administrative burden for SMEs; and
• promotion of entrepreneurship.