Olesea BORDAN SMEs Policy Development and Internal Trade Division Government of the Republic of Moldova Ministry of Economy Budapest 2015 State Policy for Small and Medium-Sized Enterprises sector Development

The SMEs Share in the National Economy of the Republic of Moldova in 2013

The problems faced by SMEs: Low competitiveness of SMEs in production sector and service providers sphere; Insufficient promotion of financial instruments, such as venture capital and credit guarantee fund for SMEs; Low level of business culture and consequently an insufficient absorption of specialized / qualified workforce; Lack of mechanisms and systems of SMEs technological capacity building in the main development areas; Late payment of subsidies to farmers and VAT refund under the terms of legislation, etc. Small and Medium Enterprise Sector Development Strategy for

Government of the Republic of Moldova Ministry of Economy Government of the Republic of Moldova Ministry of Economy SMALL AND MEDIUM-SIZED ENTERPRISE SECTOR DEVELOPMENT STRATEGY FOR 2012 – 2020 ACTION PLAN ON THE IMPLEMENTATION OF THE STRATEGY FOR Government Decision no. 685 from 13th of September 2012 (M.O. no /740 from ) ACTION PLAN ON THE IMPLEMENTATION OF THE STRATEGY FOR

Small and Medium Enterprise Sector Development Strategy for Small and Medium Enterprise Sector Development Strategy for Strategic Objective Creation of a favorable business environment, promotion of business culture in the course of SMEs support and assurance of social unity.

Strategic Vision of SME sector:  Average growth of the number of SMEs per 1000 persons up to 25 SMEs by 2020;  Growth of the number of workers employed in SMEs up to 65% by 2020;  Growth of the SMEs share in GDP up to 38% by 2020;  Ensuring effective competition by strengthening competitiveness and facilitating growth and sustainable innovation of SMEs. Small and Medium Enterprise Sector Development Small and Medium Enterprise Sector Development Strategy for

Priority Directions of the Strategy:  Adjustment of the normative and regulatory framework to match SMEs needs;  Improvement of access to financing for SMEs;  Development of human capital through promotion of competences and entrepreneurial culture;  Increase SMEs competitiveness and stimulation of innovation spirit;  Facilitation of SMEs development in regions;  Business partnership development. Small and Medium Enterprise Sector Development Strategy for

National Programme for Economic Empowerment of Youth (PNAET): During :  Were organized 134 training courses, trained – 3631 young people, including women.  Were disbursed 1639 sub-loans, that permitted: - Financing of 1282 start-ups, including 480 managed by women (37 %) - Creation of 2395 workplaces. Small and Medium Enterprise Sector Development Strategy for

“Program on Attracting Remittances into the Economy “PARE 1+1”: “Program on Attracting Remittances into the Economy “PARE 1+1”: During the period of :  1094 migrants were trained or their first degree relatives, including 295 women (27%)  504 grant contracts were signed with beneficiary enterprises, 147 are founded or managed by women (29%)  From 247 start-ups, 66 enterpsises are founded/ managed by women (27%) Small and Medium Enterprise Sector Development Strategy for

Credit Guarantee Fund for SME: 2014:  56 financial guarantees for SMEs were offered, of which: ⁻26 start-ups (46,4%), ⁻25 businesses (44,6%) managed by women. “Efficient Business Management” Programme : 2014:  98 training courses were organized, 2710 persons trained, including 1800 women. Small and Medium Enterprise Sector Development Strategy for

Business Incubators: Business Incubators: During the period of :  8 business incubators were created (BI) and 1 will be launched in April 2015;  BI incubates 120 enterprises, approximately 45 are founded / managed by women;  BI generates the creation of 558 workplaces, of which 254 are for women. Small and Medium Enterprise Sector Development Strategy for

- Active business incubators - Business incubators under construction Business Incubators

The Action Plan on Strategy Implementation for

Priority Directions of the Strategy: 1.Adjustment of the normative and regulatory framework to match SMEs needs; 2.Improvement of access to financing for SMEs; 3.Development of human capital through promotion of competences and entrepreneurial culture; 4.Increase SMEs competitiveness and stimulation of innovation spirit; 5.Facilitation of SMEs development in regions; 6.Business partnership development; 7.Women's Entrepreneurship Development. Small and Medium Enterprise Sector Development Strategy for

15 Priority 7: Women's Entrepreneurship Development Priority 7: Women's Entrepreneurship Development  Facilitating the access of women entrepreneurs to training and information resources;  Promoting entrepreneurship among women;  Facilitating the access of women entrepreneurs to financial resources;  Creation of credit guarantee financial products for companies managed by women;

Priority 7: Women's Entrepreneurship Development  Implementation of programs for women entrepreneurship support (training, consultancy, legal advice, mentoring and coaching, including funding);  Information and guidance to women entrepreneurs applying to the European funding programs COSME and Horizon 2020;  Develop and promote a program of financial support for rural businesses founded by women. 16

The Main Actions Planned for Implementation:  Adjusting the draft law on SMEs to the 10 principles of "Small Business Act";  Create Advisory Council for SMEs that will consist of public and private sector representatives;  Including the entrepreneurial training course at all levels of education (starting with secondary) and training the teaching staff the entrepreneurial education;  Creation of new business incubators and expansion of business incubators network at national level;  Implementation of programs for SMEs support ;  Promoting "green" practices within SMEs. The Action Plan on Strategy Implementation for

Thank You for Attention! SMEs Policy Development and Internal Trade Division Budapest 2015 Government of the Republic of Moldova Ministry of Economy