As it is known everywhere, at least in Europe -many initiatives are run to fight with the negative influence of the Covid-19 pandemic. Also one of our Bulgarian stakeholders - Bulgarian SME Promotion Agency - is running such activity.

The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) is an administrative structure supported by the Minister of Economy. The Agency implements the state policy for the promotion of entrepreneurship, development, and internationalization of SMEs.

The Agency is making efforts to achieve the objective of improving and improving information services for small and medium-sized enterprises, especially during a crisis caused by the pandemic. In the current situation, you can get:

  • Payment of compensation for employers - On March 31, 2020, the Employment Agency initiated a procedure to request employers to pay compensation to employers in order to maintain the employment of employees in a crisis.
  • Interest-free loans - BDB guarantees that interest-free loans of up to BGN 4,500 are granted to employees who are forced to take unpaid leave from work.
  • Parents on unpaid leave will receive a one-time benefit of BGN 375 - The Ministry of Labor and Social Policy allocates BGN 20 million for one-off assistance of BGN 375 for parents of children under 12 years of age who have been on unpaid leave for at least 20 days due to their inability to work from home in a state of emergency. From May 5, the scope of target groups with the right to one-time assistance is expanding - parents of students up to 7th grade who are 14 years old, as well as families in which one or both parents lost their jobs but are not entitled to unemployment benefit. , he will also be able to receive one-off assistance of BGN 375. The application is submitted to the Social Welfare Agency in accordance with the applicable procedure for receiving one-off assistance.
  • Employment of employees on a second employment contract from other companies - Employees on unpaid leave due to the suspension or contraction of their company due to a crisis may be employed under a second contract by other employers whose activities have not been affected.

That's only a part of the support that is provided with the cooperation of our Bulgarian stakeholder. If you're an employee of Bulgarian SMEs, this info may be helpful to you. Check the whole information HERE.