Applications are Open for the Innovative Enterprise of the Year Competition

The Innovative Enterprise of the Year competition is a platform for the boldest ideas. From newly established startups to established leaders – companies whose innovative solutions bring measurable results and create value can participate. The most outstanding participants will be awarded the prestigious Excellence in Innovation brand – a symbol of leadership, sustainable development and contribution to the economy of tomorrow.

The application campaign is open until October 20. The competition is open to companies from all fields, and the forum where the awards will be presented will be held on December 9.

For more information click here, to apply click here.

Responding to the latest GDP data published by the ONS this morning, Stuart Morrison, Research Manager at the British Chambers of Commerce said: 

“Today’s data shows the UK economy had a subdued summer, with limited growth in the three months to July, and 0% in the month alone.  

“The business landscape remains challenging, particularly for SMEs, with cost pressures impacting investment, recruitment and trade. While our latest economic forecast suggests growth of 1.3% this year, that’s largely down to stronger-than-expected activity in Q1, before the impact of national insurance and tariffs.  

“Inflation is proving stubborn, meaning for businesses struggling with the cost of borrowing, the pace of further interest rate cuts is likely to be slower than expected.  

“The Government has acknowledged it has asked a lot of business in the past year. Our message is now clear – there must be no more taxes on business in the Autumn Budget. The Chancellor must focus on unlocking growth and productivity through business. Our recent Blueprint for Growth contains practical ideas to get businesses investing, recruiting and trading.” 

Read the full ONS data here

Sirma Group will be on stage in two events in the UK in September.

Deyan Blagoev, Sirma’s Commercial Director in T&L, will take part in two panels discussing the future of transportation and logistics. Deyan is also Regional Ambassador of BBCC.

The events are supported by Barclays and will happen in Liverpool (23rd september) and Leeds (25.09)

This is a good showcase of partnership between BBCC members – Sirma Group and Bob Spence. 

Here are the links of the events where you can register : 

“Future proofing the port of Liverpool” in Liverpool (23.09) : Future proofing the port of Liverpool Tickets, Tue, Sep 23, 2025 at 10:00 AM | Eventbrite

“The future of logistics” in Leeds (25.09) : The Future of Logistics – Leeds Digital Festival

PwC’s Academy is delighted to introduce two new digital training courses for Autumn 2025. In response to the rapid advancements in technology, these courses are designed to empower you to better use new technologies to tackle business challenges effectively. 

• Introduction to Data Science with Python programming language 
  This training encapsulates nearly two decades of analytical expertise within the Python framework. This course is designed for beginners in both Python and data science, offering foundational skills and tools to tackle common business challenges efficiently. 
  Unlike many other courses, our programme emphasizes practical problem-solving over exhaustive coverage of Python syntax. We focus on effectively applying Python to real-world data science issues. 
   
  Dates: 3, 17, 31 October, & 14 November 2025  
  More information: https://www.pwc.bg/en/pwc-academy/portfolio/technology-and-digital/data-science-with-python.html  
   
• Exploring the World of Data and Artificial Intelligence in Business 
  This training clarifies complex concepts, helps participants understand the importance of data and AI in today’s business world. It also equips them with the skills to leverage data-driven insights for effective decision support and understand the possibilities of AI in today’s business landscape. 
   
  Dates: 14 & 15 October 2025  
  More information: https://www.pwc.bg/en/pwc-academy/portfolio/technology-and-digital/Data-and-AI-in-Business.html  

Both courses will be conducted live-online and led by PwC experts with extensive experience in data science projects across various industries. For more information, please visit the links above, or contact the PwC team at bg_pwcacademy@pwc.com.

Packet-per-second peaks in 2025 are nearly four times higher than in 2024

Neterra continues to successfully protect its customers from the rising volume of malicious internet traffic. In 2024, the company blocked a total of 276,993 DDoS attacks. In just the first six months of 2025, the number of prevented attacks has already exceeded 77,765.

While ACK Flood attacks dominated in 2024, SYN Short attacks have taken the lead in 2025. Packet-per-second (pps) peaks this year are nearly four times higher compared to 2024, highlighting both the increasing strength of the attacks and a shift in attacker tactics. This highlights the need for dynamic and adaptive defense.

ACK Flood and SYN Short are two types of Distributed Denial of Service (DDoS) attacks designed to make servers or networks inaccessible to legitimate users. Imagine a server as a restaurant that can only serve a certain number of customers at a time. A DDoS attack is like sending a huge crowd of fake “customers” who occupy all the tables, leaving no room for real clients.

ACK Flood is a classic volume-based DDoS attack, whereas SYN Short is a newer and more adaptive one. It uses smaller packets, is harder to detect, and often bypasses traditional defense systems that rely on traffic volume thresholds.

“Neterra’s new hardware systems successfully neutralized attacks peaking at more than 38 million packets per second and traffic volumes of up to 30 Gbps. We continue to invest in advanced security technologies to ensure peace of mind for our customers despite the surge in cyber threats,” said Pavel Marchev, CTO at Neterra.

The UK Government has introduced Electronic Travel Authorisation (ETA) worldwide for visitors who do not need a visa for short visits to the UK of up to six months, or who do not already have a UK immigration status. 

Applying for an ETA is quick and simple, and most applicants get an automatic decision in minutes when applying through the UK ETA app. 

An ETA is a digital permission to travel and costs £16. It permits multiple journeys to the UK for stays of up to six months at a time over two years or until the holder’s passport expires – whichever is sooner. 

The UK Government would be grateful for your support in raising awareness about the need for Bulgarian visitors to have an ETA if they are visiting the UK. A downloadable suite of communications products is available, including key messages, printable and digital posters, social media content and guidance videos. These have been co-developed with the travel and tourism sector to ensure they provide the necessary content and are designed to help you inform your clients and customers about the ETA requirement. 
 
For more information on ETA, visit: Apply for an electronic travel authorisation (ETA) – GOV.UK 

BBCC member Bob Spence met with Emma Hardy, the local Member of Parliament for Hull.

One of the agenda items was the forthcoming launch of the British Bulgarian Chamber of Commerce trade mission under the Smart Cities theme.

Emma Hardy welcomed news of the initiative and expressed her delight that Hull is actively partnering with a European Union country. This engagement highlighted regional support for BBCC’s work.

The latest British Chambers of Commerce (BCC) economic forecast has upgraded growth expectations for 2025. But overall, the outlook remains subdued. The forecast shows: 

• GDP growth in 2025 revised up to 1.3% (from 1.1% in the previous forecast) GDP forecast for 2026 and 2027 remains unchanged at 1.2% and 1.5%.  
• Business investment is expected to grow by only 1.6% this year and will remain subdued across 2026, rising only by 1.9%.    
• Net trade will continue to weigh on GDP, with exports projected to increase by 3.1% in 2025 and 3.3% in 2026, while imports are expected to rise 4.4% this year and then slow to 1% in 2026. 
• The inflation rate is forecast to hit 3.7% in Q4 2025, before easing to 2.5% by the end of 2026.  
• The interest rate is expected to remain at 4% for the rest of 2025 and fall to 3.5% by the end of 2026.  

UK Economic Outlook       

The UK economy is expected to grow by 1.3% in 2025, revised up from the previous forecast of 1.1%. This upgrade reflects better-than-expected economic performance in Q1, supported by public spending. However, GDP is expected to slow slightly in 2026 to 1.2%, before rising to 1.5% in 2027 – unchanged from the previous forecast. The growth picture varies significantly across sectors. Construction is expected to be the best performing sector this year, growing by 1.5%, revised up from 0.8%. Meanwhile, services are forecast to grow by 1.3%, and manufacturing by 1%.   

Business investment to remain weak 

Business investment across 2025 is projected to be 1.6% – a significant downgrade from 4.8% in the last forecast. This is due to subsequent downward revisions on investment estimates by the ONS to a level more consistent with the weaker business sentiment seen in BCC business surveys. Investment plans across the majority of SMEs remains subdued due to increased costs, most notably the national insurance rise Business investment is then forecast to rise slightly to 1.9% in 2026 and recover to 3% in 2027 

Export growth won’t improve net-trade 

Exports across this year are projected to rise by 3.1% (an upward revision from 2.0% in the last forecast). The upgrade is reflective of stronger than expected performance in Q1 ahead of the introduction of US tariffs. However, exports will remain modest overall, in the face of continued global uncertainties and trade frictions, such as the removal of the US de minimis allowance. Exports are forecast to grow by 3.3% in 2026 and 3.2% in 2027.  

Imports are expected to grow by 4.4% this year (compared with 3% in the previous forecast), before falling to 1% in 2026, then up to 3.3% in 2027. This means Net trade continues to contract, with figures of -1.3% in 2025, -0.7% in 2026, and –0.9% in 2027.  

Inflation to remain stubbornly above BoE target 

The BCC forecast suggests inflation will remain a thorn in the side of the UK economy, with CPI at 3.7% by the end of this year (revised up from 3.2%). The National Insurance increase, wage growth and global trade tensions continue to create business price pressures. CPI is expected to ease to 2.5% by the end of 2026, and then 2.1% in Q4 2027. 

No further interest rate cuts this year 

Given a pick-up in inflation, further reductions in the interest rate are unlikely – leaving the base rate at 4% by the end of 2025. Only two cuts are projected next year due to the persistence of price rises. The interest rate is expected to fall to 3.5% by the end of 2026 and then remain there to the end of 2027.  

Average earnings will continue to outpace inflation 

Average earnings are expected to remain significantly above inflation this year, reaching 4.3% by the end of Q4 (up from 4.2% in the last forecast). That’s likely to add further inflationary pressure to the economy. The trend for the next few years remains the same as previously forecast, with wage growth of 4.1% in 2026 and 4% in 2027.  

Unemployment to remain relatively static  

The forecast suggests unemployment will remain broadly unchanged at 4.7% this year compared with 4.6% in the Q2 forecast. With wage growth and the NI hike continuing to impact the hiring appetite of firms, unemployment is expected to end 2026 at the same level of 4.7%. The forecast suggests the rate will ease slightly to 4.5% in 2027.  

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

“Our latest forecast underlines the difficult reality facing UK businesses – and shows that economic growth is stuck in first gear.  

“GDP has been upgraded to 1.3% for this year, due to better-than-expected performance in Q1 supported by public spending. However huge uncertainties remain as firms assess the impact of NICs increases, new employment regulations, and yet more trade barriers.  

“A net trade deficit will continue to weigh on growth going forward. Global trade tensions, ongoing conflicts, and the recent removal of the USA’s de minimis threshold for small exporters are acting as a drag anchor on exports. 

“Inflation is also proving more stubborn than expected. Businesses face relentless cost pressures, from the NICs rise to higher wages and global tariffs. These factors are directly constraining investment, which we have revised down. 

“The forthcoming Autumn Budget will be a pivotal moment. The Chancellor faces some tough decisions as more tax rises risk severely undermining sentiment and investment even further. Sustainable growth depends on driving productivity through modern infrastructure, a skilled workforce, and seizing the opportunities of the AI revolution. 

“SMEs need the tools to invest, trade and expand. Without this, the UK risks being locked into a prolonged low-growth trap.” 

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

“While 2025 may be slightly better than forecast, the overall growth landscape for the UK in the next couple of years looks weak. The economy will continue to be buffeted by global headwinds, alongside ongoing worries about high bond yields.  

“Government expenditure has bolstered the economy this year, but the spending taps are likely to be tightened very soon across Whitehall.  

“The spectre of inflation is set to loom over the economy for some time to come, with consumers reluctant to spend. That’s likely to slow the path of interest rate cuts.  

“Government long-term strategies are welcome – but firms can’t only exist on promises of tomorrow. They need help today to grow, recruit and compete.” 

Read an infoheet with more details of the QEF here

Via Vino is hosting two special wine tours. Tour 3 wine countries over 4 days (16-19 October), or enjoy the Christmas Cheer in Hungary (19-22 December).

Via Vino is happy to offer all BBCC members a special 50 EUR discount per person for both trips.

To claim your discount, send an email to Ivaylo Katerski at info@via-vino.com with promo code BBCCwine25.

Check out the full offers in the files attached below.

The next edition of PwC’s Mini MBA Programme is commencing on 9th October 2025. Designed to elevate your business acumen and leadership skills, this comprehensive live-online 3-month programme features 9 modules that delve into key business areas such as strategy, operational agility, people management, project management, marketing, and innovation. 

In response to the dynamic business environment, the Mini MBA has been upgraded and it now includes the module “Operational Agility: Strategies for Efficiency”, which will equip participants with essential skills to manage and optimise operations effectively. Additionally, modules like “Corporate and Business Strategy,” “Innovation & Creative Thinking,” and “Enabled Organisation” have been also refreshed to align with the latest business trends. 

The Mini MBA Programme offers a unique learning journey by presenting a comprehensive overview of the organisational structure and management methodologies. Participants will benefit from an interactive learning experience led by an international team of experienced professionals. This programme is ideal for managers at all levels, small and medium-sized enterprise owners, and aspiring entrepreneurs. 

For more details about PwC’s Mini MBA Programme, please visit our website: https://www.pwc.bg/en/pwc-academy/portfolio/mini-mba-programme.html If you have any questions, please contact us at bg_pwcacademy@pwc.com.