Strategies of the Development of Entrepreneurship and SME
Strategies of the Development of Entrepreneurship and SME
Strategies of the Development of Entrepreneurship and SME
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4.3. MOLDOVATable 14.Dimensions Negatively affecting Positively affecting SuggestionsDemographic • Aging <strong>of</strong> <strong>the</strong>population• Population decline ingeneral• Large number <strong>of</strong>workers abroad• ImmigrationSocio-cultural • Not friendly to <strong>SME</strong>sector employeesretirement <strong>and</strong> healthcare systemsPolitical/legal • Political instability• Internal territoryconflict (Transdnistriaregion)• No strategy in joiningNIS or EU• Immature legislationcontrol• Low level <strong>of</strong>advantages for <strong>SME</strong>businesses proclaimed in<strong>the</strong> legislative system• Moderate to lowlobbing <strong>of</strong> largecompanies’ interests• Underestimation <strong>of</strong><strong>the</strong> <strong>SME</strong> role in <strong>the</strong>economy by politicians• Corruption <strong>and</strong> lowtransparency <strong>of</strong>legislative system• Complex relationshipwith <strong>the</strong> neighbouringcountriesMacroeconomic • Low income country• Part <strong>of</strong> <strong>the</strong> formercentrally plannedeconomy• Over-concentration <strong>of</strong><strong>the</strong> former SU economyresulted in <strong>the</strong> lack <strong>of</strong> astate attention to <strong>the</strong><strong>SME</strong> sector problems• Shadow economy• Investment climate isnot favourable forinternationalinvestments• More or less stable indisposition <strong>of</strong> ethnicgroups• Well educated labour• More uncertaintyaccepting than Russians• Gradually increasingattention <strong>of</strong> <strong>the</strong> state to<strong>the</strong> <strong>SME</strong> sector needs• Legislative base forsuccessful <strong>SME</strong>development is created• Entered <strong>the</strong> stage <strong>of</strong>institutional frameworkimprovements –programs <strong>of</strong> state supportfor <strong>SME</strong>• GDP growth• Financing opportunitiesfor <strong>SME</strong> are slightlygrowing• More attention is paidto <strong>SME</strong> sector byeconomic policy makers• Growing potentialdem<strong>and</strong> for Moldova’swine <strong>and</strong> o<strong>the</strong>r productsin Russia• EU initiatives inestablishing closerelationship with Moldova• State policy to support<strong>of</strong> a population growth• Develop <strong>the</strong> system <strong>of</strong>non-certificate <strong>and</strong> fordegree managerialeducation• Correction <strong>of</strong> <strong>the</strong>medical care system <strong>and</strong>retirement plans for selfemployed<strong>and</strong> <strong>SME</strong>employed people• Diversify financialopportunities for <strong>SME</strong> sector• The higher priorityshould be given tocooperation <strong>SME</strong>development projects with<strong>the</strong> neighbouring countries<strong>and</strong> o<strong>the</strong>rs• Stimulate on <strong>the</strong> statelevel <strong>the</strong> development <strong>of</strong><strong>the</strong> <strong>SME</strong> businessinfrastructure (associations,foundations, funds,consortiums, <strong>and</strong> strategicalliances)• Develop electronicsubmission for <strong>the</strong> majority<strong>of</strong> documents for <strong>SME</strong>; <strong>and</strong>a feedback e-system foreach <strong>of</strong>ficial to avoidcorruption <strong>and</strong> briberies• Develop favourable <strong>and</strong>transparent taxation systemfor <strong>SME</strong> sector• Attract FDI flow to <strong>the</strong><strong>SME</strong> sector by announcinginternational tenders <strong>and</strong>/ornational programs74
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