Call for topics: BBCC Tax and Regulatory Update

The British Bulgarian Chamber of Commerce is pleased to announce the preparations for our annual Tax and Regulatory Update, scheduled for 25 February 2026 and kindly hosted by CMS Buglaria.

As one of our most highly anticipated events, this update provides a vital platform for businesses to navigate the complexities of the Bulgarian and UK regulatory landscapes. To ensure the agenda is as relevant and impactful as possible, we are inviting our members and legal and tax industry experts to propose topics and speakers for this year’s programme.

Please offer topics you would like to present HERE by 20 January. Note that topics will be reserved on a first come first served basis. In case of overlaps we will contact you to discuss the way forward.

This past September, the BBCC and a delegation of 10 female tech entrepreneurs visited Leeds to discuss investment opportunities.

You can read more about their journey in the following articles:

https://yorkshiretimes.co.uk/article/Bulgarian-Tech-Leaders-Visit-Leeds-For-Partnership-Mission

https://businesscloud.co.uk/news/bulgarian-female-tech-entrepreneurs-head-to-leeds

Reacting to news of the UK rejoining Erasmus+, William Bain, Head of Trade Policy at the BCC, said: 

“Businesses will be enthusiastic about the UK’s re-entry to the Erasmus+ programme from 2027. This will allow them to maximise its full benefits for training, apprenticeships, skills, further and higher education, and exchanges. 

“It will also provide an opportunity to shape the programme from the inside as funding is allocated for the next six years. 

“The BCC has been calling for the UK to rejoin Erasmus+ for some time. It is a welcome sign that the EU reset can deliver results for business and economic growth in the UK and EU. Both sides now need to double down on delivery in 2026 for key agreements on food checks, Emissions Trading Scheme linkage, youth experience and electricity market access.”

We closed off the season with our Xmas Party. The party gathered BBCC members and friends for a fun night filled with festive spirit and special Christmas inspired drinks.

Special thanks to our drinks partners Avendi and Vila Daros.

We want to extend our thanks to all who came and celebrated with us.

On 6 December we had the pleasure of hosting the annual St. Andrew’s Black Tie Ball, together with Avendi. We celebrated the Scottish national day over a glass or two of whiskey and traditional Scottish music and dances. Our host for the night was the talented Bulgarian actor Martin Mednikarov.

Svetoslav Chochev and Pavel Pamukchiev welcomed guests with custom made cocktailes, and shared the story and origin of whiskey, walking guests through whiskey’s aging process along the whiskey tasting during the dinner.

The Charlie Kirkpatrick Ceilidh Band entertained guests with traditional music and dances.

The event was in support of Operation Teddy Bear.

Special thanks to our gold sponsor for the event Crowe.

You can find pictures from the evening here.

The fifth edition of Powers Summit – the independent platform for open dialogue between industry, civil society, and the government, known as the “Bulgarian Davos” – concluded yesterday at Sofia Tech Park. During the forum, the priorities developed by the business community on the country’s key strategic topics were presented, followed by an open discussion with representatives of the parliamentary parties and the executive branch. The authorities “heard” the questions raised, with each thematic discussion including participants from both the legislative and executive branches.
In accordance with the Powers Summit framework, industrial leaders outlined three key priorities in each thematic area – defence and innovation, energy, healthcare, education, and competitiveness. During the panels, the political participants presented their views and commented on the approaches they are considering within the scope of their policies and institutional responsibilities.
Key Highlights from the Discussions at Powers Summit 2025
Defence / Innovation and Cybersecurity
The discussions covered European models for acquiring defence technologies, opportunities for closer industrial cooperation, and the need to develop human capital – essential for innovation and cybersecurity.
Energy
Participants addressed the necessity of creating a national list of critical raw materials, accelerating strategic projects, and improving the transparency of market mechanisms, including access to data and new technological solutions.
Healthcare
The discussion emphasized prevention and early diagnostics, access to treatment, staffing challenges, and the need for consistent policies supporting professional education in the sector.
Education and Competitiveness
The forum highlighted the future of JEREMIE-related funding, the reform of the pension model, financing in education and measures to attract foreign students, as well as the improvement of the regulatory and rating environment.



Forum Participants and Partners
Each year, Powers Summit represents over 80% of Bulgaria’s GDP, with the panel discussions led by the heads of associations that serve as the voice of their respective industries. You can view the full programme and the participants of the Annual Meeting of Powers Summit here: https://www.powersummit.eu/index.php#programa

When motivation dips, you need a fresh spark, and Agile Pool is here to light it up!

Super Recharge Keynote is a 40-minute session that restores energy and engagement during periods of change and heavy workload. AgilePool delivers it online or on-site, tailored to your context.

Right now, all newsletter recipients can book this session for their team, to be held within the next 6 months. Booking is free.

Who it’s for: teams that need a boost and acceleration during change, a critical project, or an upcoming goal.

What you get: concise, practical content focused on mindset and immediate micro-actions.

👉 Book a free session: contact@agilepool.com
+359 883 412 071 / +359 898 987 195 / +359 884 330 010

The latest British Chambers of Commerce (BCC) economic forecast suggests last month’s Budget is unlikely to kickstart the UK economy. The first forecast by a major business organisation since the Chancellor’s statement shows the UK’s growth outlook will remain subdued. The key points: 

• GDP growth in 2025 revised up marginally to 1.4% (from 1.3% in the previous forecast), while GDP forecast for 2026 and 2027 remains unchanged at 1.2% and 1.5%.  
• Business investment is expected to grow by only 0.9% in 2026, before picking up to 1.5% in 2027.  
• Exports projected to increase by 1.8% in 2026 and 2.4% in 2027 (down from 3.3% and 3.2% in the last forecast). 
• The inflation rate is forecast to ease to 2.1% in Q4 2026, before easing to 2% by the end of 2027.  
• The interest rate is expected to be 3.75% by the end of this year, and then only fall slightly to 3.5% by Q4 2026.  

UK Economic Outlook       

The UK economy is expected to grow by 1.4% in 2025, revised slightly up from the previous forecast of 1.3%, driven by strong public spending. However, GDP is expected to slow to 1.2% in 2026, before rising to 1.5% in 2027 – unchanged from the previous forecast, because of productivity challenges and cautious fiscal tightening.  

The growth picture varies significantly across sectors. Next year manufacturing is forecast to grow by 0.9%, construction 1.1% and services 1.3%. In 2027, growth in manufacturing is expected to be 1.8%, construction 1.9%, and services 1.6%.  

Business investment to fall significantly next year 

Business investment is forecast to suffer significantly next year – falling from expected growth of 3% in 2025, to just 0.9% in 2026. It is then expected to rise again to 1.5% in 2027. The projected weak levels of business investment are due to ongoing cost pressures on firms, highlighted in the BCC’s business surveys, and the lack of direct growth measures in the Budget.  

Export growth to slow 

With global trade uncertainty continuing, export growth is expected to fall from 3.0% this year to 1.8% in 2026 (a downgrade from 3.3% in the last forecast). The downgrade reflects the global impact of tariffs and the lack of delivery yet on the proposed UK-EU reset.  

Imports are expected to grow by 3.8% this year, before falling to 1.4% in 2026, then up to 2.8% in 2027. This means net trade continues to contract, with figures of -0.9% this year and next, and -1.1% in 2027. 

Inflation to ease towards target 

The BCC forecast suggests inflation will continue to ease next year, with CPI at 2.1% by the end of 2026, with wage growth cooling and a softening overall labour market. Inflation is forecast to reach the Bank of England target of 2% by Q4 of 2027.  

With inflation easing, alongside a loosening labour market and weak growth, further interest rate cuts are likely, albeit modest. The interest rate is expected to be 3.75% by the end of this year and fall to only 3.50 by December 2026.   

Average earnings to continue easing 

Average earnings are expected to continue easing through the forecast period. Wage growth is anticipated to be 4.3% by the end of this year, falling gradually to 3.8% in 2026 and 3.5% in 2027 (down from 4.1% and 4.0% in the last forecast).  

Unemployment to rise further in 2026 

The forecast expects unemployment to rise to 5.1% in 2026, as the labour market continues to loosen. Firms will continue to face ongoing costs pressure, sluggish productivity and low output limiting recruitment appetite. The unemployment rate is then expected to ease to 4.8% in 2027.  

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

“Our forecast suggests last month’s Budget is unlikely to be a growth game-changer for the UK economy. 

“The outlook for SMEs in 2026 will continue to be challenging with business investment and export growth struggling. Inflationary pressures, specifically from rising labour and energy costs, are likely to persist, meaning only modest cuts in the interest rate. Unemployment will be a key indicator to track as labour costs rise and automation costs ease. 

“Taken together the forecast paints a picture of an economy remaining stuck in low gear. Businesses are showing remarkable resilience and innovation, but many are weighed down by political uncertainty and the cumulative cost pressures.  

“Delivery on growth is now key – the Government has published industrial, trade, and infrastructure strategies, and these must translate into action. 

“The UK is trapped in a low growth cycle, with consequences for both the fiscal and political landscape. Maximising the AI roll-out and global trading opportunities could help break the deadlock.” 

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

“Businesses will be steering through choppy waters once again next year after a Budget that lacked the growth measures so desperately needed.  

“Getting inflation back down towards the Bank’s 2% target is good news, but that masks the continuing cost pressures for businesses. Significant interest rate cuts, that would make a huge difference to businesses and households, are not guaranteed next year by any means.  

“Rising unemployment will be a key part of the economic landscape next year, pushing down consumer spending and presenting further challenges for firms of all sizes.” 

Source: British Chambers of Commerce

BBCC Chair Barry Brand was invited to speak about British companies and their growing interest of entering Bulgarian market for growth and investments.

You can watch the full interview here.

On 4 December, The Duke of Edinburgh’s International Award – Bulgaria (The Award), in partnership with the British Bulgarian Chamber of Commerce (BBCC) and the British Embassy in Sofia, hosted the 5th Great British Charity Quiz.

H.E. Mr Nathaniel Copsey, British Ambassador to Bulgaria, graciously welcomed guests to the British Residence in Sofia for this special event. H.E. Copsey and Tony McMurray, Chair of the Award’s Honorary Trust entered the role of quizmasters!

The night was filled with laughter, a little bit of competitiveness and lots of interesting quiz questions. Alongside the quiz, guests were welocme to participate in a charity raffle and silent auction featuring exciting prizes, generously donated by partners and supporters of the Award in Bulgaria.