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16.10.2018 9:55
A BGN 1.5 mln voucher scheme begins, which will help small companies to go out on the stock exchange
The value of a voucher is BGN 50 000 and the companies must collect at least BGN 500 000, so that the procedure can be successful

  • © Ministry of Economy

Small, medium and micro enterprises can now apply for a voucher scheme worth more than BGN 1.5 million for the provision of securities issuance services on the capital market. Deputy Minister of Economy Lachezar Borissov said at a press conference announcing the start of the Voucher scheme, together with the Chairman of the Energy Commission at the National Assembly Delyan Dobrev, the Deputy Chairman of the Board of Directors of the Bulgarian Stock Exchange Vasil Golemanski and Alexander Minev executive Director of the Small Business Promotion Agency, which will administer the process and collect applications for a voucher.

Lachezar Borisov announced that the expectations are to benefit at least 30 companies and the value of the voucher provided is BGN 50 000, which will lead to the mobilization of additional BGN 15 million or activation of 10 times more funds than the public resource invested. In his words, the purpose of the scheme is to mobilize the capital market and seek synergy with other financial engineering instruments, and the main task is to support SMEs in their access to finance.
Borisov pointed out that, according to the autumn macroeconomic forecast, investments in the GDP structure will grow by 8.9 per cent by the end of 2018 in real terms, and by 2019 9.5 per cent real growth in investment the structure of GDP. "Economic growth is already moving from investment, not just from consumption and exports," said the deputy prime minister, adding that from the point of view of private sector funding, 2018 is expected to end with 7.5% real growth .
At the briefing it was also clear that before applying, the companies must carry out a procedure for the selection of a contractor with a public invitation under the Decree of the Council of Ministers Decree No 160 of July 1, 2016, to elect a broker and sign a contract with him. The companies have a nine-month period to raise the capital of the stock exchange and have to raise at least BGN 500,000 in order for the procedure to be declared successful. The eligibility assessment will be ten days. Documents can be submitted for a period of 24 months, with the participation of small, medium and micro enterprises.
If the scheme is successful, there are still another 2.4 million leva, which will be granted under the same scheme. According to the chairman of the Parliamentary Energy Commission Delyan Dobrev, the new scheme could be opened at the beginning of next year and additional 50 vouchers could be granted.

TAGS: investment | stock | exchange | vouches | finance | small | medium | SME 

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