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In April 2021, the Council of Ministers adopted a National Strategy for Small and Medium-Sized Enterprises 2021-2027 (Национална стратегия за малките и средните предприятия (2021-2027)).

The main objective of the strategy is to support the Bulgarian small and medium-sized enterprises (SME) in their efforts to be competitive, digital, sustainable and export-oriented enterprises, which manufacture goods and services of high added value.

Measures aimed at young people are foreseen in two impact areas of the strategy, and namely: Entrepreneurship and Digitalization and Skills.

The specific objectives in these two impact areas in terms of young people are as follows:

• Increase of the share of youth entrepreneurship activity;
• Maintaining information database of employers that employ and train school students, young people and persons under 29 years of age in dual training form (on the job training).

The specific actions to be undertaken for the achievement of these objectives are:

• Support for young people who want to start up a business as self-employed persons and in SME in key types of entrepreneurship through trainings, consultancy and mentorship services;
• Distinguishing SME employers active in the field of dual training of school students, young people and persons under 29 years of age; establishment and awarding of annual prizes for SME employers with achievements in dual training.

In cooperation with the Fund of Funds, Sofia University "St. Kliment Ohridski" organizes the Best Youth Startup in Bulgaria National Contest (Най-добър младежки стартъп в България). This annual contest encourages young entrepreneurs by providing excellent opportunities for development. The participation in the contest ensures exclusive mentorship program with successful business leaders, intensive practical training for start-up building and unique chance to impress investors and gain support. The contest is open for young entrepreneurs at the age of 18 and 29 years of age.

The Ministry of Labor and Social Policy implements measures to encourage micro-enterprise employers to open jobs by subsidizing the first 5 open jobs. The measure provides support for the smallest economic entities, most of them being new entrepreneurs. Furthermore, it implements an incentive stimulating the entrepreneurship of unemployed persons eligible for money compensation for unemployment. Unemployed persons who have entered into a contract to start business and have provided employment to another unemployed person not eligible for money compensation for unemployment, are entitled to additional funds from the state budget. The Employment Promotion Act also provides for support of unemployed persons, including unemployed young people by encouraging them to start an independent business as a micro-enterprise under the Small and Medium-sized Enterprises Act (Закон за малките и средните предприятия). The start-up entrepreneurship is supported by covering the costs incurred to start an independent business activity included in the business project.