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Sofia ranks 9th with regard to business-friendly environment and 4th with regard to cost effectiveness

Small and medium-sized enterprises are the backbone of the economy in Sofia

‘It is an indisputable fact that small and medium-sized enterprises are the backbone of the economy in Sofia - 97.7% of all companies in Sofia are small and medium-sized enterprises. They generate 70% of the city's production, and 63% of Sofia's employees work in the sector’, said Sofia Mayor, Yordanka Fandakova at a meeting with business representatives, organized by Business Lady magazine and club, with President Mila Zaharieva. The director of the municipal investment agency Vladimir Danailov made a presentation at the meeting.

Fandakova noted that these results are recognition of the good business climate in the city and the consistent work towards improving the conditions for starting and developing businesses.

‘In 2019, Sofia entered the rankings of the FDi Intelligence Unit World Cities of the Future, ranking 9th in business-friendly environment and 4th in cost effectiveness’, also said Fandakova.

Small and medium-sized enterprises are one of the main sources of jobs and economic growth. This is one of the reasons why Sofia municipality is the first in the country with its own privatization and investment agency.

We promote innovation and support the efforts of start-ups and SMEs to compete internationally, helping them make the most of various financial grants and instruments.

In 2019, is implemented the Accelerator Start-up Sofia Programme of Sofia Municipality for supporting starting entrepreneurs. The Municipal Investment Agency provides to businesses information support and contacts with other cities and financial instruments. City-to-city is one of the most successful programmes, through which collaborations have been established with other European cities such as Vienna and London.

 

 


Events in Sofia

The exhibition “The food in Sofia and Sofia region” in REGIONAL HISTORY MUSEUM – SOFIA

November 5, 2020 – March 28, 2021;The exhibition is located in the hall ”Temporary Expositions”, floor 2, in the building of Banski Square 1 ...

SOFIA CITY ART GALLERY: Svilen Stefanov. ROMANTICS LOVE CONCEPTUALISM

November 3 – December 6, 2020. Opening November 3rd, 5 – 7 p.m. ...

INTERNATIONAL COMPETITION VIVAPIANO FOR NON-PROFESSIONAL PIANISTS

30.10.2020 – 01.11.2020 in the concert halls of the National School of Music "Lyubomir Pipkov" ...

ANTISTATIC: International Festival for contemporary dance and performance

Start: October 10th, 2020; End: November 8th, 2020 in Sofia ...