FOLLOW UP: British Community Day

On 15 June, BBBA in partnership with British Football School and St. George International School hosted the British Community Day event. We enjoyed a day full of fun, sun, football and positive emotions. 

Our big and small guests had the chance to participate in training sessions and football tournaments organised by British Football School, tour the lovely facilities of our host St. George, learn more about children’s dental care with the event sponsor Dental Clinic Petar Duchev, enjoy arts classes, attend lego coding classes with British Council, snack on delicious nibbles provided by Maria’s World Catering and cool down with refreshing beverages from Vidas. 

We would like to thank all our guests for joining us and all our partners for the the support. And congratulations to all our champions in tournament for the outstanding performance. 

You can find photos from the event here. 

British Football School trainers are English Football Association & UEFA certified and they have the experience that is required to assist the children in a proactive way of learning in a safe and fun environment. Your children, boys and girls, will be excited to play like in a real club with qualified British trainers without having to travel to the UK.

The British Community Day was a teaser of the summer training programmes organised by British Football School. Below you may find the upcoming football holiday camp options:
– 01.07 to 05.07 – Bulgarian Football Union, Boyana, Sofia – for ages 6-13
– 08.07 to 12.07 – Bulgarian Football Union, Boyana, Sofia – for ages 6-13
– 09.09 to 13.09 – St George International School, Sofia – for ages 5-9 and 10-13 .

Full information can be found here.  If you would like to proceed and reserve a place, please  contact the BFS: Viber/WhatsApp: +359877918995 or Tel: +441618189641

Special thanks to our Sponsor:

The British Council is looking for a Sales & Customer Services Coordinator and an Academic Coordinator for their new branch.

The Sales & Customer Services Branch Coordinator will support the Sales & Customer Services Manager to ensure the team delivers an excellent customer experience to both new and existing customers. You can see the full job advert and apply online via the British Council Careers Portal here.

The Academic Coordinator will provide academic support to teachers working with young learners and adults the branch and to contribute to the teacher training provision. You can see the full job advert and apply online via the British Council Careers Portal here.

Manpower Bulgaria & Assert International have launched their regular “Salary and Additional benefits Trend Research” survey. It is conducted for the 5th consecutive year in two phases – H1 in December and January and H2 in June and July. 

By taking part in the survey, you will contribute to tracking changes that occurred in the first half of 2024 and employer sentiment on upcoming indexations and factors that will impact remuneration in the second half of 2024.  

The survey takes 7 to 10 minutes to complete, and the results will be presented in July via all communication channels of Manpower & Assert.

You can take part here.

The new terrace of the ADOR restaurant has opened its doors with a modern interior that emphasizes natural materials and light tones, creating a cozy and nature-inspired atmosphere. For lunchtime meetings, the restaurant offers special menus with impressive presentations. Chef Dimitar Boyadzhiev and his culinary team take pride in the variety of steaks and fish prepared on the unique Josper grill. Among the specialties are Black Angus from Australia, Wagyu Beef from Japan, wild sea bass fillet, and smoked yellowfin tuna tartare.

Afternoon coffee on ADOR’s terrace is a must, accompanied by tempting desserts from head pastry chef Rosita Simeonova. For cool summer evenings, the restaurant offers a rich selection of non-alcoholic and alcoholic cocktails. Customer favorites also include homemade lemonades in refreshing combinations like lime and lavender, grapefruit and agave, lemon and elderflower.

To enhance the experience, a musical program features various performers, DJs, and intriguing themed evenings.

Regus offers all BBBA members the opportunity to book an office only in June with more than 30% discount for the entire length of the agreement.

Available for selected offices in Plodiv & Sofia. For more details and information call them at 0885 136446.

The British Chambers of Commerce (BCC) Quarterly Economic Forecast has slightly upgraded growth expectations for 2024 and 2025, following a stronger start to the year. However, the forecast for 2026 remains unchanged.

 UK Economic Outlook       

The UK economy is expected to continue its recovery after the short recession at the end of 2023, but long-term growth is unlikely to be strong. After a weak 2023, growth for 2024 and 2025 has been revised upwards for the second forecast running, to 0.8% and 1.0% respectively, with 2026 remaining at 1.0%.  

But the overall profile remains flat, as a poor outlook for exports acts as a drag anchor and high interest rates continue to limit investment. This comes as BCC surveys continue to show most SMEs are still not increasing their investment.    

While CPI inflation should dip below the Bank of England’s 2% target this year, it is expected to rise again to 2.3% across Q4 2024. It is also forecast to be slightly above target in Q4 2025 at 2.1% and 2.2% in Q4 2026.

Small upwards revision to quarterly GDP    

Growth in the first half of 2024 is now expected to be comparatively strong, as the economy improves back after the short recession. The ONS has estimated growth of 0.6% for Q1 and the BCC is forecasting 0.4% for Q2. However, this is not expected to last, with growth slowing to 0.3% in Q3, and 0.2% for the next five quarters after that. Overall, the expectations for 2024 and 2025 are both up by 0.3%, to 0.8% and 1.0% respectively.  

But with global headwinds remaining, interest rates falling slowly and only a gradual expansion in consumer spending, the BCC expects growth to remain subdued – holding at 1.0% for 2026.          

Outlook for trade remains very weak

The poor outlook for trade is also holding the economy back, with both imports and exports contracting in 2024 by -1.9% and –1.7% respectively, before a gradual bounce back in 2025 and 2026. 

However, with CPI inflation set to stay low and interest rates slowly falling, the BCC does expect business investment to steadily increase across the three years of the forecast. There will be a rise of 0.8% in 2024, 1.3% in 2025 and 2.0% in 2026. 

Average earnings will continue to perform strongly    

Average earnings are expected to continue to grow more strongly than inflation across the forecast period, with annual growth of 3.0% to Q4 2024, followed by 4.0% to Q4 2025 and 4.5% at the end of 2026.   This in unchanged from the BCC’s last forecast.

With core inflation proving stubborn, wages continuing to rise, and geopolitical uncertainty persisting, the Bank of England interest rate is expected to be cut more cautiously. The BCC now forecasts a base rate of 4.75% at the end of Q4 2024, then 4.35% for Q4 2025, and 3.95% by Q4 2026.   

Unemployment rate expected to be slightly higher than previously expected 

The unemployment rate is now expected to rise more strongly to 4.5% in 2024 and then 4.6% in 2025 before falling to 4.4% in 2026. This is a slight increase from last quarter’s forecast. But the labour market is set to remain historically tight as difficulty finding skilled staff and long-term sickness impact the available workforce.

Commenting on the forecast, Vicky Pryce, Chair of the BCC Economic Advisory Council, said:    

“The BCC’s latest forecast shows there is life in the UK economy but if it is to gain momentum then it must be nurtured.

“With interest rates expected to be cut at a modest pace and pay outstripping inflation, businesses will be holding onto much of their money – even as confidence rises after the mini-recession.  

“As we enter the final weeks of the general election campaign, businesses will be watching for politicians to show they have sustainable long term economic plans. These must play to the UK’s strengths and gives companies confidence.”

David Bharier, Head of Research at the British Chambers of Commerce, said:      

“With an upgrade to GDP expectations, our forecast expects the UK economy to be edging towards slightly higher growth rates. With the recession of 2023 concluded and   interest rate cuts now expected later in 2024, the environment should become more stable for SMEs to invest. However, the margins are slim, and any further shocks could easily dent this recovery.

“Our research is clear about the issues UK SMEs have faced over the last four years – skills shortages, inflation that eats at margins, high interest rates that make borrowing harder, and trade barriers with the European Union.  

“The BCC’s election manifesto sets our clear policies in five areas which could reinforce business confidence and put the economy on a more stable footing.

“A green-focussed industrial strategy is urgently needed, with action on skills planning, AI, business rates reform and improved trade relations with the EU.”

Over 800 people from 13 countries participated in the 10th Anniversary Friendship Marathon in Pleven, which took place on May 19. The event raises funds for a scholarship for a student from MU – Pleven, who grew up without parents.

Over the years of its existence, the Marathon has established itself not only as a sports and cultural celebration, eagerly awaited by hundreds of Pleven residents and guests of the city, but also as an event that aims to promote the social inclusion of people with different abilities. Within the framework of the Marathon, the traditional mass cross was again held together with BAPID in support of differences and diversity.

Volunteers from Bulgaria, the USA, Great Britain, Brazil and Romania, as well as representatives of the local Roma community participated in the organization of the Pleven Friendship Marathon this year. Through their teamwork, they proved that building a just social environment is a cause that transcends any language and cultural barriers and state borders.

The tenth Pleven Friendship Marathon is organized by leading foundations and social enterprises in Bulgaria, whose main mission is to support people in a disadvantaged position and with different abilities: “Eyes Open”, Sports Club “To Run”, “Maria’s World” foundation , “Social Future – Jamba” Foundation, National Alliance for Social Responsibility, in partnership with Pleven Municipality, “Elite Running” SC from Romania, Bulgarian Association for Persons with Intellectual Disabilities (BAPID), BCause Foundation, Autism Today. The event was once again supported by long-standing partners – PwC, Nestlé, Devin, METRO, Interlang, ASICS and Euroins, joined by LEONI Bulgaria. With their support, the companies once again showed that they are leaders not only in business, but also in their concern for society and its sustainable future.


You can see photos from the event here.

Together with colleagues from Central and Eastern Europe, PwC’s Academy in Bulgaria now offers a wide portfolio of E-Learning courses. They cover topics in plenty of areas, among which ЕSG, IFRS, Artificial intelligence (AI), GDPR, Cyber, Digital, Whistleblower protection act, Internet of Things(IoT), Anti-money-laundering (AML), and others. 

PwC’s Academy E-learnings are a valuable digital tool for self-paced learning and are key when you need to upskill a large group of people at the same time. They can be accessed by multiple simultaneous users from any part of the world at any time. Among their main benefits are their cost and time efficiency, the flexibility they offer to the employees in taking charge of their own upskilling, and the consistency they provide. Furthermore, the E-learnings we develop can incorporate tests and thus provide measurable results and reporting.

In addition to our already developed E-learnings, PwC’s Academy can create effective e-learning courses focused on and meeting the training needs of your organisation. Our E-learnings are developed by PwC’s experts with extensive professional experience in the relevant areas. 

You can have a look at the existing E-learning training solutions we provide here.

If you would like to understand more about our digital training solutions, please contact them at: bg_pwcacademy@pwc.com 

British Embassy Sofia are hiring!

The vacancy is for Commercial Department Intern.

Apply to join their  team by 16 June at this link.

The British Chambers of Commerce has launched its Digital Revolution report outlining a framework to create a connected, dynamic and secure future for UK businesses.

Among the recommendations are:  

• Government should appoint an AI champion for SMEs who will help spearhead a programme to improve business use of artificial intelligence.   
• Government should explore social tariffs for lower-income areas, to enable more people to access broadband services – including small businesses. 
• Wireless Network infrastructure should be strengthened through a pro-investment policy framework supported by a planning regime that unlocks the UK’s 5G ambitions. 
• The government should work with the insurance industry to create a reinsurance pool that underwrites cyber risk for business. 

The Digital Revolution report is a key part of the BCC’s Election Manifesto focusing on the ‘Future of the Economy’ published last week. It draws on expertise from businesses of all sizes, academia, Chambers and think-tanks.  

The report outlines a series of clear asks from policymakers on broadband, wireless connectivity, cyber security and AI.  

Martha Lane Fox, President of the British Chambers of Commerce and Chair of the Business Council, said:  

“The pace of technological change is speeding up, not slowing down. That’s a fantastic opportunity for business. 

“Our report calls on the next government to put energy into the further modernisation and digitisation of the UK. Not just for the few but, for everyone.  

“We need rocket boosters under high-speed broadband rollout. A fast, reliable and affordable connection is now fundamental for every company. They also need support to deal with cyber security which is both a daunting prospect and a pressing risk for companies.   

“We need a sustained commitment from all politicians to make sure that the UK – through its amazing businesses – keeps pace in the fast-moving digital world.” 

Priya Guha MBE, Venture Partner at Merian Ventures and Chair of the Digital Revolution Challenge Group said:  

“Our report focuses on four related areas – broadband, wireless connectivity, cyber security and AI.

“Every company now needs to be digital, and these four areas are the foundations for competitive and productive businesses. And they are also areas where the government can play an important role in helping firms.  

“Without the basics of fast broadband, connectivity on the move and cyber risk protection – businesses won’t even be equipped to start exploring how they can benefit from the exciting world of AI.  

“The ever-changing world of technology is of huge strategic importance to business. Both for their own future, and the future of an innovative economy in the UK where all companies thrive.”