20.04.2018 | Bulgaria

"S & T Bulgaria" with a quarter-century history on the Bulgarian IT market

On the eve of its 25th birthday in 2018, S & T Bulgaria recorded a 77% increase in operating revenue in 2017

The history of S & T Bulgaria begins in the first years of the so-called Transition. Founded at the end of 1993 as a subsidiary of the Austrian joint-stock company S & T AG, the company opened its doors on the Bulgarian market. In years in which the business climate in the country is characterized by trends such as: limited access to finance; administrative and regulatory barriers; unpredictable and constantly changing regulatory framework; a deepening demographic crisis and growing labor market problems, S & T faces challenges, exploits the benefits and raises sustained growth. Today the revenues from the activity of the Bulgarian company reach 19 million euro, or in 2017 they are 77% more than in the previous 2016 year.

A phenomenon called "information gap" between the generations, "S & T Bulgaria" turns into a "bridge". The company is one of the winners in our country of technological development and the penetration of new information technologies. S & T relies on continuity and today knows that digital technology transformation is not enough just to use as many technologies as possible. First of all, there must be a clear vision of the company's development, and then be supported by the unlimited capabilities of these technologies, related to the strategies.

A strategy of visionaries belonging to different generations - "The Generation of Traditionalists" (born in the 1950s), to a large extent the "Generation X" (born in the 60-70s). Today, they are the entrepreneurs and successors of the Y and Z Generations, often referred to as the Millennium Generation (born in the 1980s). We expect the inclusion of the Generation "α" in the business, born after 2000, still in the education system.

This period outlined another positive trend - a social hierarchy based on innovation, qualities and achievements. The managers of S & T Bulgaria are among those active entrepreneurs who rely on innovation and high growth rates and fuel the Bulgarian economic growth. According to NSI data for 2016, about 1 million companies are currently registered, but only 45% of them have some kind of economic activity. About 93% of active companies are micro-enterprises, ie. from 0 to 9 employees. Nearly 6% are small businesses - from 10 to 49 employees. A number of medium and large enterprises with 50 to 250 and over 250 employees respectively gravitate within 1%. During the last 6 years, a total of 4085 enterprises were closed - 85 large, 1,000 medium and 3,000 small.

Over the past 6 years, S & T Bulgaria has reached its highest level. "The financial records in 2017 make our company continue its exciting course of growth," said Zlati Petrov, CEO of S & T Bulgaria. "During the year we focused on the successful development of projects in the private and public sector, we created a great business value by building solutions in the Internet of Things Industry. This reinforced our position of leadership in the market. We plan on employing our financial power towards further sales growth. To this end, we envision acquisitions, with this to provide us with important know-how and with the potential to further increase our margins.”