Promotion of entrepreneurship in Siloel Ltd.

“Siloel” Ltd. is a newly established company, specialized in development and manufacture of electrical equipment, more specificly manufacture of chargers for batteries. One of the strongest challenges facing the company, which equally applies to many small businesses in Bulgaria, is the lack of financing. Nearly 90% of the micro-companies in the country fail to realize and develop their entrepreneurial ideas, leaving them “on paper” only. Moreover, another problematic characteristic and a major challenge in front of the entrepreneurial development in Bulgaria is the fact that almost half of the newly established companies operate in the wholesale and retail sale trade sector, which is mainly dependent on the economical changes and environment. The share of newly founded businesses operating in sectors with higher added value is drastically small. To be able to face all these challenges and successfully realize its entrepreneurial idea (goods) – inexpensive high effective charger for charging batteries (three component rechargeable batteries), the company needs to overcome all the existing limits and difficulties prior to its development. The applicant cannot realize its entrepreneurial idea, because it does not have the necessary qualified staff to fufill such activities on its own. Apart form the qualified experince and expertise, the company needs longterm tangible assets and premises, necessary for the realization of the idea. A market survey is also needed for the establishment of the entrepreneurial idea on the market and its realization in short term. The planned investments will allow the applicant to successfully position and offer a product, which will generate high added value. To overcome all the mentioned issues, the project includes the following eligible activities: 1. Activity for realization of an entrepreneurial idea on the market 2 Visulisation of the project.

Comments