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New Report Reveals Bulgarian Companies' Optimism and Readiness for International Expansion

London, 20 Feb 2024  - Today, BEX - Bulgarian Expansion Bridge, a non-profit accelerator, unveils the findings of the First International Expansion Sentiment Report, offering valuable insights into Bulgarian technology companies' readiness and confidence in pursuing global growth opportunities.

The report, based on a research completed at the beginning of 2024, sheds light on the strategic direction and outlook of Bulgarian businesses as they navigate the complexities of international markets. Key highlights include:

High Confidence: Over 80% of Bulgarian companies express confidence in their ability to expand internationally, underscoring a strong belief in their preparedness for global expansion.

Size Matters: Mid-size companies, particularly those with revenues between 1 to 10 million BGN (£0.4 - £4.3M), demonstrate the highest levels of confidence in their expansion prospects.

Global Engagement: Bulgarian companies are already actively engaged in international markets, with a significant presence across various regions, notably within the European Union.

Investment Focus: Sales and marketing enhancements emerge as top priorities for Bulgarian companies looking to bolster their expansion efforts.

UK Focus: The United Kingdom emerges as the primary target market for Bulgarian companies, reflecting a strategic focus on key Western economies.

In response to the report's findings, BEX's CEO, Georgios Kolovos, reflects:

"The International Expansion Sentiment Report highlights the remarkable optimism and ambition of Bulgarian technology companies as they embark on their global expansion journey. It is inspiring to see such confidence in their ability to thrive on the international stage. As businesses continue to navigate the evolving global landscape, we at BEX will continue to offer the support for unlocking new opportunities for growth and success."

The International Expansion Sentiment Report serves as a valuable resource for businesses, policymakers, and stakeholders seeking to understand and support Bulgarian companies' international expansion effords.

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