Coface and the chamber of commerce in Pleven offered decisions on campany stability
On a special Round Table of the project "Business stability and growth" Milena Videnova, Country Manager of Coface Bulgaria and Daniela Peneva, from the Regional Organisation of Commerce and Industry Chamber in Pleven, presented solutions for risk management for improvement of stability of companies. Damyanka Vladimirova, deputy mayor of Pleven district and Gergi Rusinov, Chairman of the chamber of commerce and industry in Pleven opened the meeting and welcomed the guests.
Damyanka Vladimirova greeted the organizers for the proactive dialog with business and emphasized the key importance of the discussion and definition of the most pressing problems faced by local companies. Representatives of the Chamber presented role of the organization in combating these challenges and provided some useful solutions.
Milena Videnova from COFACE presented the main reasons for decreasing the competitiveness of companies, which include low productivity, the few innovations, high energy consumption, poor transport connections and access to financing difficulties.The consequences are delays in payment and an essential part of overdue invoices transfer into permanent bankruptcy. To keep its competitiveness, however, the SME companies can continue working on an outstanding amounts using the opportunities for researching its clients with credit reports and insuring the risks of protracted default and/or insolvency of the buyer. This is complex solution that can ensure the business stability. „We are sure that based on the experience we have as an international insurer of credit risks, with 20 years of presence in the local market, we can offer solutions that are useful and beneficial. Our meetings with business have a key role for meetings their needs in order for us to be most useful and allow them to focus on the important elements of the trade."
This round table was the fifth of the series of round tables in the framework of the "Project for business development and growth" of Coface Bulgaria and Bulgarian chamber of commerce and industry (BCCI). The initiative has the aim to give useful know-how for stability and prevention against risks and financing the company activity, especially of SMEs. Practical solutions for cash flows management and achievement of higher competitiveness in the domestic and export markets will be discussed during the round tables. Till end of the year similar initiatives will be held in Ruse and Varna.
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