Good financial planning is the foundation of any successful business. That was the topic of Module 3 of BASE (Business Academy for Startup Entrepreneurs) in Blagoevgrad on April 6, 2023. Ms. Nadia Zaharieva, Program Director of Business, Entrepreneurship and Technologies at the America for Bulgaria Foundation, presented the fundamentals of financial planning.

The attendees in the full September 22 hall of the local municipal administration learned how to plan their business, structure and describe all their expenses, make revenue forecasts and as a result, build a realistic and expected business plan.

The future entrepreneurs received and answered the questions:

– How is financial information successfully used in business development?

– Which costs are fixed and which are variable?

– How are profitability and profit formed?

During the practical part of the lecture, the participants were divided into four groups and had interesting tasks with a competitive element. The discussions helped the participants to get to know each other and have fun. Following Mrs. Zaharieva’s lecture, the participants continued to network in a friendly atmosphere at a modest cocktail party.

About the lecturer:

Nadia Zaharieva is the Program Director of Business, Entrepreneurship and Technologies at the America for Bulgaria Foundation. She has 18 years of experience in investment and banking. She was Investments Manager in Bulgarian-American Credit Bank’s program for financing hotels and before that at the Bulgarian-American Investment Fund. She majored in International Economic Relations at the University of National and World Economy in Sofia.