A serious change is coming in some sectors of business in our country.
Many family businesses in Bulgaria are selling their businesses. Evgeniy Kanev, managing partner of an investment consulting company, told Bloomberg TV Bulgaria this.
According to him, the new technological revolution has brought a new type of transactions to Bulgaria. People who have passed 45-50 years and no longer have the strength to compete in the new environment are selling their businesses, he said.
“These are mostly family businesses where the owner is 50+ and doesn’t see a legacy behind him. The companies are mostly in the field of machine building and industrial production of consumer goods. These are the sectors that were associated with privatization 20 years ago and now the owners want to exit the market,” the consultant specified.
He is of the opinion that in the technological revolution, many entrepreneurs fail to remain competitive and therefore sell their businesses.
“Many investors are waiting for interest rates. When they go down, the deals will accelerate.”
Evgeni Kanev reported that last year was also weak in terms of deals for Bulgaria. “Firstly, because of the interest rates and secondly, because Bulgaria is in the border zone of the war. In addition, we had a long period of political uncertainty, which was also a brake on these deals,” the manager reminded.
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