An innovative model for business financing in wine production

Title: An innovative model for business financing in wine production
Issue: Vol. 11, No 4, 2018
Published date: 12-2018 (print) / 12-2018 (online)
Journal: Journal of International Studies
ISSN: 2071-8330, eISSN: 2306-3483
Authors: Mina Angelova
University of Plovdiv Paisii Hilendarski

Daniela Pastarmadzhieva
University of Plovdiv Paisii Hilendarski

Penyo Georgiev
University of Plovdiv Paisii Hilendarski

Gergana Dimitrova
University of Plovdiv Paisii Hilendarski
Keywords: Bulgaria, wine production, innovation, financing, intelligent assistants, e-learning
DOI: 10.14254/2071-8330.2018/11-4/8
Language: English
Pages: 106-119 (14)
JEL classification: O33, G20, A10
The article is published with the cooperation of Scientific research of the University of Plovdiv Paisii Hilendarski, project № PP18-FESS-008.

Development of markets and market relations always leads to enhanced competition and increased consumer demand, thus making quality one of the key factor in success and survival of any organization. An important prerequisite for improving quality is also having an opportunity for flexible financing of organizations. The study focuses on small and medium-sized wine producers, located in Southern Wine Region in Bulgaria. The main purpose is to identify the challenges these producers are facing, related to ensuring financial funds. We base our conclusions on the data from various official sources including the European Commission and Bulgarian National Agencies as well as our own data. The latter has been collected through questionnaires, spread among local wine producers at the beginning of July 2017. The selected approach confirmed some of the conclusions made in the official sources concerning the challenges faced by SMEs. Regarding the methodology we have concluded that it is better to reduce the number of questions or combine some of them. We also intend to start personal communication with managers of the companies in question. Also, we believe that in-depth interviews will help us understand better the circumstances behind the specific answers provided in the survey.


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