EBRD Business Guide: Updated guidance now available for Ukrainian and Moldovan SMEs

By Nigina Mirbabaeva

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As part of its ongoing legal and business guidance for micro, small and medium-sized enterprises (MSMEs) through a dedicated online Business Guide, the EBRD is issuing updated material for MSMEs in Georgia, Moldova and Ukraine, with dedicated information for those that have been affected by the war.

The latest update to the EBRD’s Moldova-focused Business Guide includes detailed guidance for Ukrainian businesses wanting to relocate to Moldova and for Moldovan businesses wanting to employ Ukrainian refugees.

The guidance provides legal and practical overviews of 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.

Interactive webinars, live chat functionality, and a link to the EBRD’s Know How Academy are also available on the website.

In Moldova, SMEs are a cornerstone of the local economy. According to data published by the National Bureau of Statistics, 98.6 per cent of all registered enterprises in 2020 were SMEs, generating 48 per cent of the country’s gross domestic product (GDP) and employing 60.1 per cent of Moldovan workers. However, fewer than 17 per cent of SMEs in Moldova have successfully integrated digital technology into their business activities, according to the United Nations Development Programme. The use of new technologies can catalyse further development and contribute to GDP growth.

The guide aims to strengthen the resilience of Moldovan SMEs and enable them to learn about digital trends, such as moving their business online or using BizRadar, an application developed under the guidance of Moldova’s Economic Council.  

To help users stay aware of the latest developments in legislation and government programmes that could benefit SMEs, the Bank has also published the first of a series of country newsletters on the website.

The EBRD Business Guide was launched in September 2021, and the Moldovan website has seen more than 37,000 users overall, of which 8,016 are high-engagement users. The vast majority of people who use the guide are located in Moldova, followed by users in Romania.

The Guide complements the work of the Bank’s Small Business Initiative, which aims to integrate tools that the Bank offers to support the growth of SMEs in its regions.

Angela Sax, EBRD Associate Director and Head of Moldova, said: “Moldovan SMEs benefit greatly from regularly updated guidance on legislation and business development opportunities. Ensuring that they have access to the latest information is key to supporting their growth. The EBRD Business Guide allows the Bank to continue supporting the competitiveness and development of Moldova’s private sector through digital resources and knowledge-sharing.”

 The EBRD is a leading institutional investor in Moldova. To date, the Bank has invested more than €1.8 billion in the country through 158 projects.

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