Table of Contents

Handbook of Research on European Business and Entrepreneurship

Handbook of Research on European Business and Entrepreneurship

Towards a Theory of Internationalization

Elgar original reference

Edited by Léo-Paul Dana, Isabell M. Welpe, Mary Han and Vanessa Ratten

This unique Handbook illustrates how entrepreneurs across Europe tackle internationalization. This timely and important book identifies patterns and builds a theory of international entrepreneurship in Europe.

Chapter 8: Internationalization of Bulgarian SMEs

Kiril Todorov and Kostadin Kolarov

Subjects: business and management, entrepreneurship, international business


Kiril Todorov and Kostadin Kolarov Introduction Bulgaria Bulgaria is one of the first ever European states, established in 681 AD. Bulgaria has a rich history that goes back to ancient times (Dana, 1999). Its khans, Asparoukh, Krum (803–814 AD) and Omurtag (814–831 AD) turned it into a mighty power in south-eastern Europe. In 855 AD, the brothers St Cyril and St Methodius created the Slavonic (Cyrillic) alphabet. In 865 AD, Knyaz Boris I Mikhail (852–907 AD) did away with paganism and introduced Eastern Orthodox Christianity as the official religion in Bulgaria. The Byzantine Empire recognized Mikhail as Tsar of the Bulgarians. In 1396, Bulgaria fell under the Ottoman yoke that lasted five centuries. On 3 March 1878, following the Russian–Turkish War, a peace treaty was signed, putting an end to Ottoman rule. There followed the period of the Third Bulgarian Kingdom. After World War II, Bulgaria fell under the influence of the USSR. In 1990, in the course of the changes in the Eastern Bloc countries, the first free elections were held and the new democratic Constitution of Bulgaria was passed in 1991. Bulgaria joined NATO in 2004 and plans to join the European Union (EU) in 2007. Situated in south-eastern Europe, Bulgaria occupies the north-eastern part of the Balkan Peninsula. To the North, via the Danube River, it borders on Romania, to the West, on Serbia and Macedonia. To the South its neighbours are Greece and Turkey. To the East, Bulgaria touches the...

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