In Ruse experts from Coface and CCIR discussed opportunities for increase competitiveness
On a special Round Table of the project "Business stability and growth" Milena Videnova, Country Manager of Coface Bulgaria and Milen Dobrev, Chairman of the Chamber of commerce and industry in Ruse, presented opportunities for effective business management through financing. George Nenkov, Deputy Mayor of Ruse made a welcoming speech to the guests. The event took place on 7 November 2014 and the topic was „Business financing management for increasing competitiveness". In the meeting participated representatives of companiesof different size in the region.
From CCIR presented opportunities and services, methods for investments motivation and pressed special attention on the realized and the future European projects.
Milena Videnova from Coface presented some data on the problems with payments of buyers, which are at some level disturbing - an essential part of the overdue invoices pass into permanent bankruptcy. To keep the competitiveness SMEs can continue working on deferred payments using the opportunities for researching the financial condition of its clients and insuring the non-payments risks. This is a complex solution that can ensure stability. In practice, companies often require deferred payment, not because they are in bad condition, but because in need of liquidity. She added that „risk can be decreased by counting not only on public information but also on expert opinion, that can be requested from Coface. Good receivables management ensure stability and contributes to increase competitiveness. We are in one boat with our clients, we have to keep it safe.“
This round table was the sixth of a 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 the last similar initiative will be held in Varna.
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