Abstract:

Micro, small and medium sized enterprises (hereafter, MSMEs) are the beating heart of any healthy economy, they create new jobs and adapt more easily to emerging challenges. Although MSMEs represent one of the largest groups of companies in most countries capable of contributing to the growth and development of economic activities, some factors may limit the growth of these enterprises. Unfortunately, in the last years, Moldova’s economy has been repeatedly impacted by a range of crises, which have fundamentally undermined the dynamics of economic development for small business. MSMEs from Moldova need a quick recovery that will be able to boost their economic growth and unlock their potential.

     In this context Moldova's European Union, candidate status obtained in 2022, and the recent recommendation of the European Commission for starting accession negotiations create significant growth opportunities for MSMEs from Moldova. In this regard, we provide a brief descriptive analysis related to the development of MSMEs in the Moldova and policies measures that were undertaken to pass the unpreceded crises from the last years. For this purpose, in addition to the sectoral approach based on statistical data, this paper also presents the latest data from business surveys to assess the challenges that small business sector is facing through the perception of entrepreneurs. Subsequently, measures that can boost growth of local MSMEs will be drawn up.