When I traveled through Bulgaria, one thing that stood out to me was the lack of people who are either very rich or very poor. I don’t think there are more than a handful of people in the entire country with a fortune over £50,000.
Bulgaria’s Business Challenges
Many people I met mentioned how Bulgaria’s growth in trade is held back because of a lack of capital (money). However, even if the Bulgarians had the money, I think they might not have the right skills to succeed in modern business. They are not very interested in taking risks, and competition is low. For example, a merchant in Bulgaria will ask for a high price for something. Even if the buyer can find the same item cheaper elsewhere, the merchant will not lower the price. The idea of making small profits from many sales quickly has not yet caught on Customized Tours Bulgaria.
Foreign Control of Big Businesses
As a result of this, many large businesses in Bulgaria are owned by foreigners. Twenty years ago, England led the way in trade with Bulgaria. But now, England is no longer the leader. France also hasn’t been able to keep up. On the other hand, Austria has been improving its trade relations with Bulgaria over time.
While many Bulgarians want to see their country become a manufacturing hub, the more practical and wise people believe it is better for the country to focus on developing its agricultural resources.
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