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Business Practices in Crisis Conditions. The Decline of the Big Rose Oil Trading Companies in the 1930s

Author

Listed:
  • Pencho D. Penchev

    (University of National and World Economy - Sofia, Bulgaria)

  • Momchil Marinov

    (History Museum “Iskra” – Kazanlak, Bulgaria)

Abstract

The first part of the paper is focused on the main problems of rose production and rose oil trade during the period of the 1930s. Rose production is a classic market and export-oriented branch of Bulgarian economy. The problems it experienced show how delicate and complex a matter is the market orientation of any production. It depends on complex internal and external factors and can bring prosperity to individual regions and profits to producers and traders, but this is not certain. The second part is focused predominantly on attempts of one of the iconic Bulgarian rose trading companies "Petko Iv. Orozov and Son” to deal with the problems caused by the Great Depression. The fate of the company "Petko Orozov and Son" shows that if the hostile external market environment is combined with internal shortcomings in the company itself, no matter what strategies are used, an easy escape from the problems cannot be expected. Political connections, marriages, the opportunities provided by legislative changes to save from bankruptcy are not enough.

Suggested Citation

  • Pencho D. Penchev & Momchil Marinov, 2024. "Business Practices in Crisis Conditions. The Decline of the Big Rose Oil Trading Companies in the 1930s," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 9, pages 387-399, November.
    • Handle: RePEc:ceh:journl:y:2024:v:9:p:387-399
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    More about this item

    Keywords

    rose oil; Great Depression; trade; business strategies;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N84 - Economic History - - Micro-Business History - - - Europe: 1913-

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