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Fandakova: Almost 98% of all companies in Sofia are small and medium enterprises and account for 70% of the city's production

The success of small and medium-sized enterprises develops the economy of the city and improves the living standard. Not by accident, they are called the backbone of the economy in Sofia. Almost 98% of all companies in Sofia are small and medium enterprises, which account for 70% of the city's production. This said the mayor of Sofia Yordanka Fandakova at the ceremony for the award of a prize in the "The Big Small" competition, organized by the newspaper 24 Hours.

According to Mayor Fandakova their success is due to creativity, innovation and entrepreneurship, successful examples are contagious.

“Sofia Municipality creates conditions for the promotion and financing of ideas and projects in this sector. We have developed special programs because our understanding is that we must help”, said Mayor Fandakova. The pilot program "Accelerator start-up Sofia", which Sofia Municipality launched this year with the Municipal Investment Agency and the Municipal Guarantee Fund for Small and Medium Enterprises financed 13 innovative projects of start-ups and social entrepreneurs. These projects, though small, for us are very large because the ideas they propose are of great potential for the city. So far, the Municipal Guarantee Fund has supported a total of 645 projects of small and medium enterprises in Sofia. "Social Innovation" is another municipal program, within which for the first time this year we funded 15 projects in the field of social entrepreneurship.

In section "Social Entrepreneurship", Mayor Fandakova awarded a prize to Orenda Foundation, which develops educational games and aids for children, including for children with special educational needs. They call them things with a soul. That is why they named their site neshtasdusha.com.


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