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Bulgarian Legislation for Small Businesses: Formation and Trade Guidelines (100 characters)

Join the IPA Cross-Border Programme for a lecture on the legal framework for establishing and developing small businesses in Bulgaria. Learn about the different legal forms, requirements, advantages, and weaknesses, as well as applicable legislation. Open discussion and Q&A session included. (500 characters)

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Bulgarian Legislation for Small Businesses: Formation and Trade Guidelines (100 characters)

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  1. IPA Cross-Border Programme • CCI Number 2007CB16IPO008 Guidelines onthe Bulgarian legislation regulating the establishmentanddevelopmentofsmall businessesor how to work and trade as a self-employed craftsman in Bulgaria Lecturers: G. Mutafchieva, S. Dachev

  2. Legal framework for the establishment and registration of small businesses in Bulgaria • The Small and Medium Enterprises Act • Being a merchant under the meaning of the Commerce Act • Meeting the criteria, enlisted in the Small and Medium Enterprises Act • Questions and answers

  3. Choice of legal form for your business • Merchant – natural person • Merchant – public enterprise • Companies • Commercial groups • Craftsman

  4. Merchant – individual (natural person)Majorcharacteristics • The sole proprietor as the most widely spread form of entrepreneurship • Advantages of the sole proprietor as a legal form of organization А. Comparatively easy formation and dissolution B. The financial result (profit) is for the owner C. No minimum capital required D. Independence to adopt managerial decisions • Weaknesses of the sole proprietor as a legal form of organization А. Unlimited liability B. Limited capital resources C. Insufficient management capacity D. Limited duration of existence

  5. Types of companies • General partnership • Limited partnership • Limited liability company • Joint stock company

  6. Limited liability company • Company interests • Incorporation • Articles of association • Management • General Meeting • Manager

  7. Joint stock company • Legal framework • Incorporation • Basic features • Capital stock • Shares • Statutes • Management • Taxation

  8. Cooperative • Sourcesofincome • Registration • CooperativeUnions

  9. Craftstmen • Self-employed craftsman • A company under the meaning of the Contracts and Obligations Act operating as a craftsman-based production facility • Requirements for registration in the craftsman register

  10. Applicable legislation • ObligationsandContractsAct • Commerce Act • Crafts and Craftsmanship Act • Consumers’ Protection Act • Tax and Insurance Procedure Code

  11. Questions and answersOpen discussion with all participants Summary of the meeting

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