Business crises and their impact on entrepreneurship in Bulgaria

  • 1 Business Faculty – University of Food Technology -Plovdiv, Bulgaria


Every business organization faces a crisis at a certain point in its development. Crisis phenomena for overcoming preventive measures can lead to serious economic and social problems for the organization or its bankruptcy. The crisis is a widely held view and its indications affect different aspects of the financial, social, spirit life of the nation. It’s important to accent not only to the consequences of its manifestation but also to the opportunities for overcoming. This study focuses to analyze the factors for creating conditions for business entrepreneurship in order to draw attention to the opportunities for achieving lasting success for the Bulgarian society. This report aims to systematize key factors for the emergence of crises and their impact on innovation and entrepreneurial mindset. A questionnaire was used to collect data from a sample of 215 entreprises which were selected through stratified random sampling method. Collected data were analyzed using descriptive and inferential statistics with the aid of Statistical Package for Social Sciences (SPSS). The study revealed that innovativeness, creativity, business alertness and risk taking were significant for successful implementation of innovations and affecting performance of Bulgarian enterprises. The results show that crises are somewhat the driving force behind the creation of innovation and are a prerequisite for the emergence of modern forms of entrepreneurship so necessary to stabilize the economic system.



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