Bulgaria…the startup haven

All around the world, more and  more people are recognizing that within the EU, Bulgaria is one of the best places to launch your start-up. So if you have fire in your belly and you dream of being your own boss, this Balkan country is one of the best to rocket launch your dream project.

Move to Bulgaria to become your own boss

Tax relief

Bulgaria has a very simple, flat (10%) tax structure, which is also very low as compared to the other parts of the EU. They have plenty of tax holidays and special considerations for start-ups. This is one of the primary reasons as to why Bulgaria has become such a hot-spot for start-ups in the EU.

Bulgaria…the startup haven
Bulgaria…the startup haven

Low start up costs
It is well known that the costs to start a business in Bulgaria are very low as compared to the rest of the EU.

Inexpensive but talented workforce

Most young Bulgarians are very well educated, talented and hungry for employment. Starting a venture here will provide you with low cost workforce who is only too eager to take risks and experiment with new thoughts and ideas.

Venture Capitalists and promoters
Since it is already know for its enterprise and start-up spirit, Bulgaria is often host to many Western investors who are more than happy to invest in new and upcoming ventures. In fact, there are a few events like ‘Get In The Ring’, which bring together investors and entrepreneurs.

Co-working spaces

Bulgaria has consciously developed a ‘start-up’ mentality, if we may say so. You will find co-working spaces in plenty here, since renting complete offices is not practical for most start-ups. Office rent is a huge component of business expenditure and co-working spaces reduce the costs drastically.

This is an extremely positive step taken consciously by the Bulgarians. Most cities, around the world, are still grappling with the idea of co-working spaces.

Start-up guidance and education

A lot of universities offer education and courses in entrepreneurship. Take advantage of this by signing up with these. The professors and mentors are known to guide their students and connect them with the proper people who will help them to launch their start-ups.

Start up communities and groups

There are many communities on Social networking websites as well as real communities where like minded people get together and offer support and guidance in entrepreneurial skills. Join these communities to get an insiders view about how to start your own business here.

Meets and events

From revealing what to do right to confessing where they went wrong, these meets and events conducted by certain sections are a wealth of knowledge. You can sign up for these events and see where it takes you from there on. Better to learn from people’s mistakes especially when you are in a new country, isn’t it?

Cheap and easy access to the Internet

Internet access is very cheap and in fact in certain parts, the internet is available in public places for free. If you are a digital entrepreneur, this can be particularly useful to you for your research, uploads etc. Take your laptop out with you to the park and work in those inspiring surroundings without anyone bothering you.

So, as you can see, there are many benefits of launching a new business from Bulgaria. Good enough reasons for you to consider it as your future destination, isn’t it?

Click here to know more about Bulgaria.

(This blog post is a part of Abhinav’s special series “Bulgaria Calling”, compiled by Abhinav’s Research Team.)

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