The EBRD has released a new business guide for SMEs in Moldova.
It aims to help increase their resilience, digitize and move businesses online. As noted in a publication by the European Bank for Reconstruction and Development, as part of its current legal and business advice for micro, small and medium-sized enterprises (MSMEs) through a dedicated online business guide, the EBRD is releasing updated materials for MSMEs in Georgia, Moldova and Ukraine, as well as special information for those affected by the war. The latest update of the EBRD's Moldova Business Guide includes detailed guidance for Ukrainian businesses wishing to relocate to Moldova and for Moldovan businesses wishing to employ Ukrainian refugees. The guide contains legal and practical overviews on how to set up and operate a business in Moldova, as well as information for Moldovan employers and e-commerce firms on the employment of Ukrainian citizens. The site also provides interactive webinars, live chat and a link to the EBRD Know-How Academy. As noted, in Moldova, SMEs are the cornerstone of the local economy. According to data published by the National Bureau of Statistics, 98.6% of all registered enterprises in 2020 were small and medium-sized enterprises, producing 48% of the country's gross domestic product (GDP) and employing 60.1% of Moldovan workers. However, according to the United Nations Development Programme, less than 17% of SMEs in Moldova have successfully integrated digital technologies into their activities. The use of new technologies can become a catalyst for further development and contribute to GDP growth. The EBRD's guidance aims to increase the resilience of Moldovan SMEs and enable them to learn about digital trends, such as moving their business online or using the BizRadar app, developed under the leadership of the Economic Council of Moldova. To help users stay abreast of the latest developments in legislation and government programs that can benefit SMEs, the EBRD has also published the first of a series of country fact sheets on the website. The EBRD Business Directory was launched in September 2021 and the Moldovan website was visited by over 8,000 users. The vast majority of people using this directory live in Moldova, followed by users from Romania. The guidance complements the work of the Bank's Small Business Initiative, which aims to integrate the tools offered by the Bank to support the growth of SMEs in their regions. Angela Sax, Head of the EBRD Country Office in Moldova, noted that SMEs in Moldova benefit greatly from regularly updated guides on legislation and business development opportunities. Ensuring access to the latest information is key to supporting their growth. The EBRD is the leading institutional investor in Moldova. To date, the bank has invested more than 1.8 billion euros in our country within 158 projects. // 01.11.2022 — InfoMarket
