Currently, the Bulgarian economy is 3 times the size it was in the 1990's

The role of social entrepreneurship is to find flexible and quick ways of solving different issues. These are the words of Levon Hampartzoumian, UniCredit Bulbank's CEO, at a public discussion organized by the Bulgarian Center for Not-for-Profit Law. The discussion was part of the Programme for Social Entrepreneurship, organized by the Bulgarian Center for Not-for-Profit Law, Programme and Analytical Center for European Law and UniCredit Bulbank with support from America for Bulgaria Foundation and UniCredit Foundation.

Twenty-five foundations partake in the current forth edition of the programme. They were selected among 48 candidates who displayed willingness to carry out business activities in support of their mission and objectives.

"Every entrepreneurship is social in one way or another and social entrepreneurship aims to show to the public sector, which has more wealth and more resources, how it could improve and become more efficient" Levon Hampartzoumian explained. It became clear that in most cases it is about social entrepreneurs' activeness and intelligence to do something good, to do something that society needs.

The lack of respect for entrepreneurship in Bulgaria is due to historical facts: ownership had been unfairly distributed, Levon Hampartzoumian concluded in his lecture.

He opposed the opinion that there is no middle class in Bulgaria. “It is being created now and compared to the middle class in Western European countries and in North America, it is still weak and politically disengaged, but it develops more and more each year”, Hampartzoumian said.

“The good news for Bulgaria is that due to the fact that there are not many natural resources, wealth has to be created by entrepreneurs. The role of the state, generally speaking, is not to obstruct entrepreneurs. For instance, Bulgaria is a world leader in the production of climbing walls, but our country has never had a policy to develop this kind of business. The good news is that our economy is neither that small, nor that weak: it is small and weak compared to the world's leading countries. Our current economy is 3 times the size it was in the 1990's”, Hampartzoumian pointed out.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch