Blog

 

Country in the spotlight - Bulgaria

Bulgaria’s entrepreneurial landscape is gaining strong momentum, supported by a diverse set of sectors and the gradual emergence of regional hubs beyond the capital. Sofia remains the country’s primary startup centre - especially in ICT, digital services, and outsourcing - while Plovdiv and Varna continue to strengthen their positions thanks to improving digital infrastructure and EU-backed programmes focused on business development and skills.

At the SME level, 2024 marked a robust year, with SME employment increasing by 2.3% and real value-added growing by 5.6%, nearly matching 2023’s dynamic performance. Most NACE (Nomenclature of Economic Activities) sections expanded, led by Accommodation and Food Services (employment +7.3%, real value added +11.9%). Some sectors, however, faced setbacks: Manufacturing recorded a slight employment decline (-0.9%), while Mining & Quarrying and Water supply; sewerage, waste management and remediation activities saw significant drops in real value added (-22.5% and -12.2%, respectively).

Forecasts for 2025 indicate continued, though more moderate, SME growth: employment is projected to rise by 1.2% and real value added by 3.6%, with all SME size classes expected to expand. At ecosystem level, Tourism was the top performer in 2024 (employment +5.5%, value added +9.2%), while the Digital ecosystem is projected to achieve the strongest real value-added growth in 2025 (+9%), followed by the Creative and Cultural Industries (+5.9%). A few ecosystems may experience slight employment declines, such as Textiles (expected -0.3%) (SME factsheet, European Commission).

Overall, these trends highlight Bulgaria’s solid opportunities in tourism and digital services, while also signalling targeted challenges in specific industrial segments that may require policy action to support more balanced and sustainable SME growth.

Bulgaria and the EYE programme

Bulgaria has been in the programme since its start in 2009. Below you can consult the evolution of accepted applications and established exchanges over the years.

 

←  Back to blog overview