Honour code

Startup Bushido



The current Code of Ethics is established to uphold the values we embrace as an organisation, including our member companies, board of directors, management, and employees, entrepreneurs, and members of society.

BESCO unifies startup companies and people who share the vision that:

1) The country's economy needs to undergo a transformation towards high-value industries with a focus on the exporting of products and services.

2) Bulgaria has strong potential to create forward-looking and favourable conditions for the industries of the future.

3) Bulgaria can become Europe’s start-up incubator - conditions can be created for our country to be the ideal place for start-ups and development for companies in the European market.

4) BESCO is a unifying platform for all entrepreneurs who believe that Bulgaria can change when the economy operates in a market-oriented, high-value-added manner, and entrepreneurs believe in the power of constructive capital and democratic values.


1) Neutrality: We work with everyone – all political parties, businesses, and institutions that share our mission and vision. Our actions are reflected in an egalitarian approach in work meetings, press conferences, equal access to existing legislation, and other activities concerning the mentioned parties.

2) Effectiveness: We follow through with what we have started. Our ambitions are set very high, and we take small steps in order to achieve significant results. Our actions involve being proactive in research and strategy development, conducting preliminary analysis and reports, assessments and motivation, public discussions, creation of legislation, and actively advocating for our goals.

3) Honesty: We receive payments from those we represent. The core of our funding comes primarily from our members. While we may receive other funding, our responsibility is solely to our members. Our business model relies on membership fees and funding from ethical entrepreneurs who have demonstrated high moral standards.

4) Proactivity: We take initiative. In advocacy, we conduct research, draft laws, and express our opinions openly. We actively work in the direction of achieving our organisation's mission and vision.

5) Trendsetters: We shape the economic direction. We are continuously engaged in research, comparing and contrasting how other countries have succeeded. We adhere to best practices and adapt them to our cultural specifics. Our actions include regular desk research, participation in international forums, membership in international organisations, and dialogues with other international organisations similar to BESCO.

6) Public Opinion Leaders: We are vocal. Good ideas and meaningful actions should be shared and set as examples. We don't work behind the scenes but rather frequently share what we believe is important. Our actions are expressed through regular media appearances for our Board of Directors, executive directors, and members of the organisation, as well as active presence on social media, and other public events through which we engage our association.

7) Transparency: Our actions are visible. We share as much as we can, whenever we can. We strive to be completely transparent with our members and the community. Our actions are expressed through processes of direct democracy, the supremacy of the General Assembly, regular external audits, and equal access to information upon request from members.

BESCO’s members are companies and entrepreneurs, which are an example of how in Bulgaria, a business can be sustained the right way, that we can abide by the laws of our country, we can give back to the community that, that we have achieved, we support one another as entrepreneurs and we can be an example not only within the community but also outside of it.


Every representative of the Board of Directors, executive directors, employee or member of BESCO, declares that,

1) They were not a member of State Security,

2) Does not participate in corrupt practices and motives and does not enter into intentional and conscious legal violations,

3) Does not lie, manipulate and distort facts important for the company's activity,

4) Will preserve and honour the dignity of each member of BESCO,

5) Will act in good faith and favourably for the sustainable development of each member of BESCO,

6) Will be ready to assist with his/her time, labour or material capabilities to other entrepreneurs and those who develop the entrepreneurial community,

7) They believe that success is the result of hard work and the creation of value that is useful to others, and is not pursuing self-serving ways to make quick money,

8) They do not tarnish the food reputation of the entrepreneurial community with acts of vandalism, xenophobia and discriminatory speech,

9) They serve as an ambassador of freedom of speech, public order, good interpersonal relations, and through their behaviour and values, they align within the context of the broad scope of democrations norms and European values.

10) They live and do business, while supporting the principles of free competition and upholding the foundations of business ethics.



1) They will comply with all aforementioned points from the previous chapter;

2) They will be guided by the interest of the Association and not by their personal interests;

3) Within their professional activities outside of the Association, they pay their employees fairly and fulfill their obligations to the state, including taxes, fees, insurance, and payments to institutions;

4) They will publicly declare their affiliation with political parties and any disclosed financial or other support for political entities;

5) They are not currently developing an active political career;

6) As an entrepreneur, manager, and owner, they do not misuse funds from public contracts, European projects, or other budgetary or public resources;

7) Upon request, they will provide information to the members about their activities within the Association, unless it is impossible due to confidential reasons;

8) Will not deliberately conceal information that is useful to members unless it is necessary to preserve confidentiality.


1) They will announce to the members of the Association any intention to request public funds, incl. European Union funds, participation in Public Procurement and others.

2) They will sign a declaration of economic interest when necessary.

3) They will sign a declaration that political and religious affiliation will not affect their actions and decisions as representatives of BESCO.



The authority entitled to take decisions on the Code of Honour is the BESCO’s Board of Directors.

Depending on the severity of the violation, the following actions are possible:

1) Warning

2) Ban from Association

3) Referring to the relevant external organs if necessary

BESCO is not acting as the Prosecutor in Chief and BESCO does not investigate the members of the Association!

In case of suspected violations of the BESCO Honour Code, it is appropriate to follow the following sequence of actions:

1) The executive directors and/or members of the Board of Directors will personally engage in a conversation with the member who is suspected of being in violation;

2) If a resolution is not reached, it may be recommended to have a conversation involving one or more members of the Association who can provide additional clarification;

3) If there is no result achieved a letter is written and addressed to the Board of Directors;

4) The Board of Directors conducts an investigation and makes a decision;

In case of violations by members of the Board of Directors (УС), the General Assembly has the right to self-convene. Ten percent (10%) of BESCO members have the right to call a General Assembly with the purpose of removing a member or members of the Board of Directors.