SMEs

PLAN OF ACTION OF THE

BSEC WORKING GROUP ON SMALL

         AND MEDIUM ENTERPRISE

    01.01.2024 - 31.12.2025

Country-Coordinator: REPUBLIC OF BULGARIA

Responsible Institution: Bulgarian Small and Medium Enterprises Promotion Agency
Contact Point: Mr. Latchezar PETKOV, Secretary-General
2-4, Lege Str., 1000 Sofia, Bulgaria
Phone: +359 2/940 7943
Е-mail: l.petkov@sme.government.bg

Website: www.sme.government.bg; www.export.government.bg

1. GENERAL OBJECTIVES

The Republic of Bulgaria has been appointed as the Country-Coordinator of the BSEC Working Group on SMEs for the two-year period as of 1 January 2024 by the Council of Ministers of Foreign Affairs of the BSEC Member States at its 47^th Meeting held on 13 June 2023.

This Plan of Action of the BSEC Working Group on Small and Medium Enterprises defines the main goals, objectives, and measures for closer cooperation in the field of SMEs in 2024 - 2025.

The activities of the Working Group on SMEs shall be guided by the BSEC Charter, the Istanbul Summit Declaration on the BSEC signed on 25 July 1992; the principles and priorities consolidated in the Istanbul Summit Declaration on the Occasion of the Twentieth Anniversary of the BSEC (Istanbul, 26 June 2012), the Declaration of the 25th Anniversary Summit of the BSEC (Istanbul, 22 May 2017); the BSEC Economic Agenda: Towards a Sustainable Future of a Wider Black Sea Area (December 2023); Decisions of the Council of Ministers of Foreign Affairs (CMFA); and Declarations adopted by the Meetings of Ministers in charge of Economy on 17 May 2011 in Bucharest, on 23 May 2013 in Yalta, on 29 May 2015 in Chisinau and on 11 May 2017 in Istanbul.

The Working Group on SMEs aims to foster cooperation, enhance SME resilience, and promote sustainable development in alignment with the updated BSEC Economic Agenda. The primary objectives are to:

1. Strengthen regional SME networks and promote collaboration across BSEC member states.
2. Support SMEs in achieving sustainable growth through digital and green transitions.
3. Facilitate exchange of knowledge and best practices in SME support and innovation.

1. PRIORITY ACTION AREAS
2. Enhancing SME Competitiveness and Resilience

• Objective: Support SMEs in becoming more competitive and resilient in the face of global challenges.
• Activities:
• Organize seminars and workshops on best practices for SME resilience, including risk management and sustainable growth strategies.
• Facilitate knowledge sharing on SME policies, focusing on support mechanisms and best practices in digital transformation.

2. Supporting Green and Digital Transitions for SMEs

• Objective: Promote sustainable and environmentally friendly practices among SMEs while facilitating digital adoption.
• Activities:
• Launch training programs focused on green business practices, energy efficiency, and carbon reduction for SMEs.
• Promote initiatives on digital literacy, with workshops on e-commerce and digital tools for productivity.
• Encourage SMEs to produce green products or services by facilitating access to financing and technical support.

3. Encouraging Innovation, Technology, and Collaboration

• Objective: Foster an innovation-driven SME ecosystem in the BSEC region.
• Activities:
• Promote the establishment of clusters, high-tech parks, and incubators to support SME start-ups and encourage collaboration with research institutions.
• Support the development of BSEC quality standards for SMEs, including establishing a "BSEC Quality Award" to recognize innovative and high-performing SMEs.
• Facilitate technology transfer and collaboration between SMEs and universities or research centers to spur innovation in key sectors.

• Host a regional workshop on best practices for supporting social and creative entrepreneurship.

III. TIMELINE AND MILESTONES

1. COORDINATION AND COOPERATION
2. Intra-BSEC Coordination

• Collaborate with BSEC bodies, including the BSEC Business Council and BSTDB, to support SME finance initiatives.
• Work with other BSEC Working Groups, such as the one for Trade and Economic Development, to align goals and leverage synergies.

2. External Partnerships

• Engage with international organizations, for expertise and support in SME policy development.
• Establish partnerships with private sector entities to promote sustainable investment in SMEs across the region.

3. Monitoring and Evaluation

• Track progress through regular Working Group meetings.
• Evaluate impact based on SME engagement, participation in initiatives, and progress in green and digital transitions.

This plan aims to deliver substantial benefits for SMEs in the BSEC region, fostering a sustainable and resilient economic environment aligned with the updated BSEC Economic Agenda for a Sustainable Future in the wider Black Sea area.