EVALUATION OF THE CHALLENGES FACED BY BULGARIAN BUSINESS

In order to assess the challenges Bulgarianbusinesses face as a result of the pandemic,we conducted a study to identify the impact onBulgarian businesses and on the country'seconomy over the past twelve months. Ourstudy is based on the experience of 51respondents from 10 industries.

The purpose of this analysis is to identify thechallenges faced by businesses and tounderstand how they plan to ensure they cantransform and optimize their operating modelsin today’s rapidly changing environment.

The main findings of the study show that:

• Process automation and robotics are becoming more widespread in short-term plans to improve companies' operational models in order to maintain the level of competitiveness and in a dynamic market situation.
• A growing number of companies value the key role of their employees in ensuring their success and focus on attracting, retaining, and developing talent as a strategy for long-term stability.
• Increasingly seen as core elements of business planning are the revising of operation models and the optimization of business processes. The support of a change-oriented and resilient workforce, as well as technological solutions are what deliver real value and support the success of such initiatives.
• Despite the difficulties caused by the pandemic, one third of the companies say that it has not had a significant impact on their business. These are most often companies that were already following strategic initiatives for diversification of their business activities and development of their operating models, had developed a good employer brand and had well-prepared and up to date business continuity plans.

The full analysis can be found here: Evaluation-of-the-challenges-faced-by-Bulgarian-business.pdf