Business Integrity Standards Change the Corporate Culture in Bulgaria

Transparency International Bulgaria has created and tested business integrity standards in order to improve ethical practices in the corporate sector.
The introduction of business integrity standards not only strengthens the trust of customers and partners, but also improves the resilience of companies by reducing the risk of corrupt practices and misconduct.
Companies that apply ethical business principles gain better access to international markets and become preferred partners for cooperation with investors seeking transparency and long- term stability.
The business integrity standards are in line with ESG (Environmental, Social, and Governance) standards, which more and more companies perceive as the basis for sustainable development.

Business associations in Bulgaria help implement business integrity standards with a focus on ESG standards
Through the Business Integrity initiative of Transparency International Bulgaria to approbate the standards in practice, companies will be encouraged to adopt more transparent and ethical approaches in their activities.
The implementation of business integrity standards brings a number of benefits, including increasing competitiveness, improving corporate reputation, and strengthening relationships with investors and partners. Companies that comply with ethical standards and are compliant with ESG guidelines attract more attention from investors looking for sustainable and socially responsible businesses.
The strong link between business integrity and ESG standards is a key factor in their successful implementation. ESG pillars – environmental protection, social responsibility and corporate governance, are closely related to the ethical principles of business integrity. Compliance with these standards not only improves corporate governance, but also increases public and stakeholder confidence in business activities.
Transparency International Bulgaria has created business integrity standards aimed at key companies in the industry, healthcare and energy sectors.
The development of such standards and their publicity and accessibility provide clear guidance for businesses that realize the benefits of applying the philosophy of business integrity and share values such as openness to society, integrity and adherence to ethical norms, enabling their strive for sustainability and success.

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The Deloitte Central Europe CFO Survey, carried out annually since 2010, has enabled about 600 Chief Financial Officers in the region to express their opinions. Its purpose is to provide insight into the issues at play and to present the mindset of finance leaders from across the region.

This year Deloitte wants to find out whether CFOs have changed their opinions on such topics as risk, financing priorities, the role of CFO and the most recent issues facing business, and to understand how the respondents are gauging their company’s approach to CSRD and to geopolitical risks.

The survey will take just 10 minutes of your time. Please click here to participate.

Why Participate?

• Benchmarking: Understand how your strategies compare with other leading companies in the region.
• Confidentiality: Your responses will remain fully confidential, with only aggregated results being published.
• Exclusive Insights: Participants who provide their contact information will receive an exclusive analysis and interpretation of the results.

Note: Providing contact information is optional but will allow Deloitte to send you the comprehensive report once it is published. By providing your contact details, you consent to receive the report.

On 26 September the British Bulgarian Business Association (BBBA) , in collaboration with Deloitte Bulgaria, the French-Bulgarian Chamber of Commerce and Industry, and Confindustria Bulgaria, hosted an informative seminar on the topic of “New Tax Regulations and Their Impact on Business”, at the Unicredit Bulbank International Center. 

This year the seminar focused on the latest advancements around EU Tax legislation implemented or to be implemented in Bulgaria, as well as hands-on understanding on how to effectively get prepared for interactions with the local Tax authorities in certain situations. More specifically the seminar discussed the following topics:

• SAF-T Implementation in Bulgaria: Recent Developments and Practical Insights
• The 15% Global Minimum Tax for Large Multinational and Domestic Enterprise Groups (the so-called Pillar 2) 
• Recent Developments in Tax Audits and Disputes

Our esteemed speakers, including Georgi Simeonov, Partner in Charge at Deloitte Tax, and Alexander Cherinko, Partner at Deloitte Tax, Tsvetelina Kemalova, Partner, Yoana Petkova, Senior Manager, Vasil Lenkov, Senior Manager, and, Elitsa Yordanova, Manager, shared their expertise and knowledge on these critical topics. We were pleased to facilitate an engaging and informative discussion that served the interests of our members and the broader business community.

During and following the seminar, we were pleased to invite our guests and speakers to a coffee break and a networking cocktail afterwards, where they had the chance to continue discussing their topics of interest.

TELUS Digital Bulgaria is the largest employer in the CX (Customer Experience) industry in the country with over 4000 team members across three offices in Sofia and Plovdiv.

As part of TELUS Digital’s global network, the company crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that stand the test of time.

Their portfolio of capabilities spans digital customer experience and digital solutions as TELUS blends advanced AI-powered tools and services with the human touch to create seamless customer experiences for the world’s leading brands in the field of fintech, high-tech, tourism, video, console, mobile games and more.

For more information: https://www.telusdigital.com/locations/bulgaria

The British Chambers of Commerce has endorsed the World Trade Organisation’s (WTO) focus on services and digital trade as key priorities. 

The BCC was part of a record-size UK delegation to the WTO Public Forum in Geneva, last week. It met with the UK Ambassador to the WTO, the wider UK Mission team, and businesses and other stakeholders from across the globe. 

Speaking after the event, BCC Head of Trade Policy, William Bain, said: 

“Business voices need to be heard at events like the WTO Public Forum, but also in its work all year-round. The BCC agrees with the priorities of the WTO Secretariat for the next 12 months.  Services are a UK, and global trade success story, and expanding markets for tradeable services will increase prosperity for UK businesses and the rest of the world. 

“On digital trade, we want to build a wider take up of the agreement on Electronic Commerce – currently accepted by 91 countries. This will cut costs and expand opportunities for both developing and developed nations. We need to do more to get other states into the tent on this agreement. 

“A major theme of the week was the effect of regulations and subsidies policies on openness to exports. Countries need to ensure that measures with good intentions on climate do not become overly protectionist in how they are applied. 

“We look forward to engaging further with the important work on these issues going on at the WTO. A strong rules-based global trading system matters to business in the UK, and we must make sure our voices are heard. 

“We share their aim of putting better trade and growth at the heart of the WTO staff and delegations’ agenda for the coming 12 months.” 

The BCC participated in a roundtable on carbon border adjustment mechanisms across the world, and future regulatory and subsidies policy decisions key to the future of the global trading system. 

It also heard from WTO Director-General Ngozi Okonjo-Iweala on the WTO’s priorities for the year ahead and the publication of the World Trade Report, focusing on the need to green up supply chains, bolster services trade and e-commerce, look pragmatically at subsidies reform, and expand gender equality and inclusivity in global trade. 

Source: British Chambers of Commerce

BEX has partnered with the Bulgarian Cybersecurity Association to highlight how Bulgaria’s cybersecurity ecosystem is evolving, and while still young, it’s making significant strides.

As the services market becomes increasingly competitive and saturated, businesses are shifting focus from services to product development. ‘The country’s strong IT outsourcing background offers potential for further innovation and growth in cybersecurity product development enhancing Bulgaria’s reputation as a tech innovation hub’ said Miglen Evlogiev, President of the Bulgarian Cybersecurity Association.

Companies like Kikimora and Plainsea are leading this evolution, demonstrating how product-driven strategies can unlock new growth potential and differentiate them from service-based competitors.

The report also emphasises the importance of community involvement in nurturing cybersecurity talent. Initiatives like Cyber Security Talks Bulgaria and organisations such as CyberCLUB play a crucial role in connecting professionals, students, and enthusiasts with industry experts. These communities are driving grassroots efforts to raise awareness about cybersecurity, promote education, and support Bulgaria’s next generation of cybersecurity leaders.

Pavel Georgiev, Founder of Cyber Security Talks Bulgaria, commented: “Communities are at the heart of Bulgaria’s cybersecurity evolution. They provide a platform for knowledge sharing and mentorship, helping to create a safer digital future for the country.”

Explore the insights and resources this report offers for businesses, investors, and policymakers.

Read the full report here.

Exclusively for BBBA members, Launchee is extending their special offer—book with them by October 15th for a chance to win a free event design!

Every event deserves a unique atmosphere, but only some venues can handle live streaming. Launchee has you covered with professional streaming services anywhere in Bulgaria, plus a practical “Guide to Successful Event Streaming” to ensure your next event runs seamlessly.

Bonus Alert: When you book your event streaming with Launchee by October 15th, you’ll receive a professional event design package—at no extra cost!

What Launchee Offers:

Why choose Launchee as your technology partner?

• Leading provider of streaming services in Bulgaria
• Professional team
• Reliable video services
• Individual solutions

To book an upcoming event streaming from a selected location and claim your FREE design package, simply visit Launchee’s website or call +359 877 554 800.

Price per square meter: 1790 euros including VAT 
Harmony Residence – Sofia 
Reserve your viewing today!

Contact:
+359 882 009 921
e-mail: office@harmonygroup.bg

View all available apartments on Harmony Group’s website.

For the 8th year Manager Magazine is preparing a special edition for the women leaders of Bulgaria, in which the magazine invites the BBBA female leaders to share their vision for the development of the company and the activities of the businesses they manage. In 2024, the editorial concept is focused on the near future, which has already begun and is accelerating before our eyes.

The photo sessions will be conducted by Yulian Donov with a professional make-up artist at Grand Hotel Millennium Sofia. 

Fees and conditions of participation are described in the attached presentation here

Special BBBA offer: 1 page bonus, regardless of how many pages are requested to participate in THE WOMAN IS.

The steps:

• Please select your desired format (Q&A, Future Team or Business Signature) of presentation and the number of pages – 1, 2, 3 or more you would like us to keep for you.  
• Brief us in a few sentences about your background and the business and/or projects you are developing.
• You will receive personal questions based on gamification from the Manager editorial staff. 
• Expect a photo schedule with a professional photographer and makeup artist. 
• We will send a PDF for approval before going to print. 

Deadlines: 

• Soliciting submissions possibly by the end of September or before  October 21
• Schedule photos beginning October 3-4 after that October 14-15. 
• Production and submission of materials by October 21. 
• The issue will be presented at a VIP-Cocktail in November/December.   

The publication will be in Bulgarian language. 

Distribution:  
In the distribution network for at least two months until the end of 2024 and in all major outlets selling print publications in the country;

• Shell, Lukoil, OMV, EKO, Rompetrol and Petrol petrol stations; 
• All Inmedio outlets ( Malls, bus stations, etc.);
• Fantastico, Kaufland and Billa;
• Avanti, Orange Fitness and Greenwich Bookstore;
• Digital position in A1;
• www.zinzin.bg and www.manager.bg +
• Facebook, where we have 233 thousand followers;
• LinkedIn, where we have over 51 thousand followers;
• Instagram, where we have over 14 thousand followers.

Contact & Details: 
Ventsislav Savov Special Projects Editor at Manager Magazine and Media Project Manager for the 8th consecutive year
Email: vsavov@manager.bg 
Phone: 0888225502