Nearly two thirds – 59% of female entrepreneurs in Bulgaria are not aware of the possibilities for supporting small businesses through mentoring, financing and creating contacts. Only 9% are aware of how to take advantage of available resources, whether they are financial, legal or consulting, according to a recent study by one of the major card and digital payment companies.
Despite the challenges identified in the study – such as poor market conditions (61%), lack of resources (23%) and poor time management (11%) – women entrepreneurs remain determined to succeed. Many are looking for improvements in their business results in areas such as marketing and advertising (44%), finance (28%) and supply chain management (24%). Nearly 25% focus on digitization and e-commerce (21%), while 18% seek to improve their time management skills. However, balancing work and personal life remains a serious problem, with 53% of women often experiencing difficulties. Among the additional obstacles are prejudices when accessing financing (17%) and during business meetings (12%), the survey reports.
The card and digital payment company decided to support small businesses run by women by giving them the opportunity to participate in the She`s next program. All female entrepreneurs who want to participate in it can apply in the period from October 1 to November 10. The three best projects will receive grants totaling BGN 45,000 for business development.