Voucher scheme for the provision of securities-issuing services on the capital markets is aimed at providing access for SMEs to financing from capital markets.
The voucher scheme for the provision of securities issuance services on the capital markets is aimed at providing access for Bulgarian SMEs to capital market financing by providing incentives to connect with service providers in the area of ​​the issuance of valuable papers. The aim of the project proposal is to increase the capacity of small and medium-sized enterprises for a competitive, sustainable and dynamically developing business by providing services related to securities issuance in the capital markets. The successful implementation of the project will contribute to the development of Bulgarian SMEs and stimulate their core activities by attracting additional private investments. The expected result is a minimum of 30 enterprises to receive vouchers to ensure the preparation of a prospectus for issuance of securities by the intermediary, as well as the placement of the securities in the country and abroad. As a result, additional investments in small and medium-sized enterprises are expected to be raised by more than BGN 15 000 000. The minimum requirement for the voucher to be paid is to raise private capital of at least 500 000 BGN in the issue of securities.

Resources needed

The grant amounts to BGN 1 661 051.00.

Evidence of success

High interest in the voucher scheme.

Difficulties encountered

The level of readiness of SMEs to participate and atract funding from the capital markets.

Potential for learning or transfer

This is a good chance to enable SMEs to attract funding for the needs of their business no matter where they are situated as long as there is capital market in the country.
Main institution
Bulgarian Small and Medium Enterprises Promotion Agency
Североизточен, Bulgaria (България)
Start Date
July 2018
End Date


Mihaela  Dineva Please login to contact the author.