International Economic Relations Center (IERC) utilizes its network and position to facilitate easier access to international services for the enterprises.
International Economic Relation Center (IERC) implements the external economic priorities of the Bulgarian Industrial Association and support companies and organizations in their international activities. IERC assists the businesses in cooperation with foreign embassies and representative offices in Bulgaria. IERC also communicates with the BIA representatives abroad and cooperates for the implementation of services based on agreements with more than 70 business organizations from other countries. The goal is to support the ambition of the Bulgarian enterprises to go international and to find new markets.
This is a good practice in order to help the Bulgarian business to find support on operational level for to go abroad. IERC assists companies in communication with foreign embassies in Bulgaria and representatives abroad in order to:
• look at company’s needs and goals on the markets;
• assess if the company is ready for international partnerships;
• advise the company how to better prepare for internationalization;
• identify the best way to find a partner that matches the needs of the company;
• Information about export requirements for export of goods and services;
• Search for partners.
The srvice is fully paid by SMEs which are not members of BIA. In case of membership - it is calculated in the membership fee.
For running of the GP are engaged 4 people - 1 Manager and 3 Business Consultants. The GP is implemented without any public financial support. The costs are covered by the fee paid be SMEs benefiting from the service.
Evidence of success
Since 2008 the number of supported enterprises is more than 300, the number of fostered enterprises for export is more than 100; number of entrepreneurs involved in any overseas cooperation: 10+; number of technology agreements signed: 10+.
Potential for learning or transfer
The GP represents a type of a cooperation between business support organization and foreign embassies in Bulgaria in order to assist SMEs in interantionalisation - IERC communicates with the BIA representatives abroad and cooperates for the implementation of services based on agreements with more than 70 business organizations from other countries.