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Lubomir Lubenov, Anelia Lyubenova
BULGARIA’S FINANCIAL MARKETS IN AGRIBUSINESS – SIZE, STRUCTURE AND DEVELOPMENT TRENDS
Summary:
The aim of the study is to establish the size, structure and financing trends of Bulgaria’s agribusiness. Improving the liquidity and turnover of short-term assets of farms is a goal of paramount importance because it also improves profitability. This necessitates diversification of the sources and instruments to finance the operating capital, such as credits, leasing, factoring, forfeiting, etc. At micro- and macro-level, the provision of information for financial management purposes should be improved to facilitate the access to public and corporate financial markets of short-term and long-term funds for the agribusiness. Public financial markets in Bulgaria’s agribusiness grew steadily from over BGN 1 billion/year during the first reference period of the common agricultural policy of the EU (2007–2013) to BGN 4 billion/year at the end of the 2014–2020 period. They also played an important role in generating reciprocal company financing of over BGN 3 billion/year of over BGN 7 billion/year of all financing in the sector. Structurally, short-term financing accounts for more than 2/3 to 3/4 of all financing.
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Lubomir Lubenov
BUDGET FOR MARKETING STIMULATION OF REGIONAL BEE PRODUCTS ON THE BASIS OF VALUE
Summary:
The aim of the research is to propose a budget for marketing stimulation of bee products in the Ruse district on the basis of value. The regional bee farms shall integrate among each other to form solid organization for the development of products of high added value, respectively, for the accumulation of a solid budget for the most efficient communication tools. The budget for marketing stimulation on the basis of value shall be treated as an investment in value communications regarding the demanded, the promised and the desired value by consumers. When public relations (PR) on the basis of value are not carried out well, a larger budget will be necessary for the remaining tools of the communication mix (advertisement, personal sales, sales stimulation, etc.); on the other hand, their efficiency will be lower. Direct marketing (DM) has the capacity to create added value, to offer it and to communicate it to the customers on the basis of value in unison with the marketing tools. The organization of bee farms shall form a virtual community which in the course of time will collect information about the needs of the consumers, turning into a community with value. It will direct the organization not only towards the value communication via PR and DM, but also towards improving the products, the supplies, the prices and, as a whole, towards improving the customers’ service and satisfaction.
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Lubomir Lubenov, Anelia Lyubenova, Ivailo Hristakov
FINANCIAL ISSUES AND FUNDING IN THE BULGARIAN BEEKEEPING SECTOR
Summary:
The aim of the study is to establish the amount of funding in Bulgarian beekeeping and their trends. The goal is achived through an analysis of the tendencies and the main sources of financial means. The study analyses the financial support from European and national funds (the National Beekeeping Program, the de minimis scheme, the Rural Development Program) for over BGN 18 million and from commercial banks and own sources for over BGN 3 million. Together they form financial markets for over BGN 21 million a year in Bulgarian beekeeping. The European and state financial resources intended for Bulgarian beekeeping from the country's membership in the EU are increasing in absolute terms, but are decreasing relative to the total funds. Bulgarian beekeeping has gained access to additional funding, which is not proportionate in comparison with other sectors. Additional financial support is needed per hive for the ecosystem pollination service in order to ensure biodiversity and food security in the EU. The financing of the Bulgarian beekeeping will continue to grow steadily.
