In Moldova, where SMEs make up 98% of the business sector, with 76% classified as micro-enterprises, creating a business-friendly environment is crucial for fostering small business development and generating broader economic growth in the country.
Key challenges faced by SMEs in Moldova include a trade deficit due to limited export capacity, low levels of product sophistication and economic diversification hindering long-term growth, and a talent shortage resulting from significant migration trends that have reduced the active working force compared to EU averages.
Through the EU4Business program, the EU has been actively supporting Moldova's SMEs. In 2022, the initiative implemented 30 different projects with a total budget exceeding EUR 132 million, benefiting 6,328 SMEs. These led to the creation of 22,427 new jobs and a significant 30% growth in the overall turnover of SMEs in Moldova.
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