Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

3 years of business, 200 employees, 100% growth: A Bulgarian IT Company penetrates foreign markets

БНР Новини
Photo: Scale Focus

Is a Bulgarian IT company, founded by three Bulgarian managers, able to make brave steps on the foreign markets only three years after its establishment? In 2014 Scale Focus Company registered nearly 100% turnover increase. Its growth was at almost 180% in the previous two years (2013 and 2012). The company has offices in Sofia, Plovdiv and London and is about to open one in Germany soon. The firm consists of nearly 200 employees and its target is to employ a total of 500 people in the future.  Due to its good performance the company won a series of international awards, including a silver medal for fastest-growing company at the 2014 International Business Awards Stevie. “The customers' opinion and the trace we leave behind is what matters the most” CEO Plamen Tsekov told Radio Bulgaria.

Let us go back to the time the company was established. Here is what Plamen Tsekov told RB:

“It all started with the ambition of several people to create a different company in the field of software services. I started to work with great zeal alongside a series of knowledgeable experts. We gained precious experience in how to launch a company from scratch and how to work intensively.”

What types of products your company develops and what are your business partners?

“Our company is specialized in the development of specific software products. It is a very difficult business, because the projects never repeat and each decision is strictly individual, just like a custom-made costume. We operate in over 14 countries, but some of our most-significant clients are companies which do business on the local market. We are specialized in several fields - financial services, telecommunications, insurance, logistics and retail industry. ”

Where is the key to your success?

“The customer is of great importance to us. Our experts are aware of the specifics of our customers' business and their decisions aim at improving their results. The motivation and purposefulness of our team is also very important, because people are those who drive a company forward.”

The Bulgarian nationals are the best IT experts, or the lack of well-trained personnel is huge - which is the right statement?

“I would not say either statement is right. We should not delude ourselves that we train the best computer experts worldwide. On the other hand, we have many skillful people, but the question is how a given company can motivate these experts well enough and continue to develop them. Indeed, the IT industry is currently in strong deficit of personnel. We are working with the Bulgarian universities, in order to reduce the gap between business and university education. We can attract foreign experts in the short term, so we can show the foreigners that Bulgaria is a wonderful country to live in.”

What business conditions does this country offer in the high-tech field?

“Basically, the business conditions in Bulgaria are good and our company is a proof to that. Recently foreign companies have been also showing strong interest in opening branches in Bulgaria. We must pay special attention to the Foreign Investments Act- the biggest challenge to the country's economy is how to make local companies invest abroad, instead of looking for foreign firms to invest in Bulgaria. This is the right direction - to penetrate foreign markets and promote our country abroad. Then it would be much easier to attract foreign investors here.”

Plamen Tsekov dreams of a better image of the Bulgarian business in the future, rather than of his company's success only. “We want to show the world that companies can do steady and successful business in Bulgaria and perform well on the international markets as well. It is hard to make a good start in Bulgaria, but once we succeed abroad, we would look much stronger”, Mr Tsekov contends.

English version: Kostadin Atanasov




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

IT sector attracts thousands but the market cherry picks the most motivated and experienced specialists

IT is one of the leading sectors in terms of salary increases and interest by job seekers in Bulgaria. Before the pandemic all kinds of experts were being hired regardless of their expertise or practical skills, but now preference is given to people..

published on 7/5/24 1:44 PM

BNB sets base interest rate at 3.63% as of July 1

The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate was 3.78%. Bulgaria is in a currency board and the Bulgarian lev is pegged to the euro. Therefore,..

published on 7/1/24 8:52 AM

EC: Bulgaria still not meeting eurozone criteria

Bulgaria fulfils three of the Maastricht criteria for joining the euro zone, but still does not meet the price stability and inflation targets, according to a report by the European Commission, as quoted by BTA. Bulgaria does not currently meet the..

published on 6/26/24 1:51 PM