New challenges for Bulgaria along the way when building a new economy

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Achieving and sustaining competitiveness is a lengthy process and as political and social transformations are taking place and as the state is beginning to relocate its functions business is encountering a new situation. The lack of experience and knowledge about this new environment faces them with a new challenge, to find out the new factors that help the process to work.

Requirements for flexibility, creativeness, and assimilation of the new forces and changes in all areas affect the way business functions. In the established economies the mechanism which disciplines market participants is called ‘’market forces’’, and it controls the nature of the interactions between each area of the market system, un-ethical behaviour slows economic development and growth. This is something as yet un-realized and un-known in Bulgaria. In a transparent environment, where the existence and profitability of entrepreneurs is dependent on their credibility, trust and respect, the market as a mechanism itself ensures limited access for ‘’unethical’’ participants.

Transformations in laws in general, taxes and audits affect the way organizations conduct their business. Improving the environment requires transparency and a new way of attracting investments, the key element is to ensure an appropriate infrastructure of assimilation and investment flows. It includes communications, clear and understandable rules of operation, regulative regimes and conditions and an ability to delegate responsibility, but at the core of this process is a lack of understanding of the creative potential of the human factor as a consumer, an assimilator and a tool for attaining progress. As EU enlargement is bringing competitiveness for all member states Bulgaria has the difficult task of considering what its own portion of contribution to the common market will be.


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