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Bulgaria allocates 50M leva for business start-ups

Author: The Sofia Echo staff Date: Fri, Apr 20 2012 6043 Views
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Bulgaria has allocated a total 50 million leva to support business start-ups by people who are currently unemployed, Labour Minister Totyu Mladenov said on April 20.

At least 2500 people will receive grants of up to 20 000 leva for their start-up; the money can be spent to train staff, buy equipment and materials necessary for the company's operation, to carry out office repairs or even as salaries for staff (but for a period no longer than three months).

The funds have been allocated from European Union's operational programme for human resources development, Mladenov said.

Eligible applicants have to be registered as unemployed and have completed management and entrepreneurship qualification courses or have other qualification and skills required for managing their own company, according to the ministry.

Applications for grants can be submitted at unemployment offices between May 7 and May 31.

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