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Access To Finance By Moldovan Small And Medium Enterprises: Main Obstacles And Solutions

Author

Listed:
  • Tatiana GUTIUM

    (National Institute for Economic Research, Republic of Moldova)

  • Olesea SPEIAN

    (Moldova State University, Republic of Moldova)

Abstract

The small and medium-sized enterprise sector is one of the main elements of the modern national economy and is the guarantor of the existence of competition. It contributes to increasing the percentage of the middle class and the creation of new jobs in the state. Finance plays a crucial role in the activities of small and medium-sized enterprises. One of the main obstacles to the development of SMEs in the Republic of Moldova is limited access to finance. The article presents the results of the analysis of the evolution of the main indicators of business activity of enterprises. The object of this study is to describe the experience of Moldovan small and medium-sized enterprises in accessing finance, highlighting the main obstacles. Using the software package EViews 9, an econometric model was developed for the dependence of the total credits given to the small and medium-sized enterprises on the follow factors: Consumer Price Index, base rate, non-performing credits and the volume of redemption government securities. Based on the results of the study, measures have been developed to improve access to finance for small and medium-sized enterprises in Moldova.

Suggested Citation

  • Tatiana GUTIUM & Olesea SPEIAN, 2022. "Access To Finance By Moldovan Small And Medium Enterprises: Main Obstacles And Solutions," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 7(3), pages 97-108.
    • Handle: RePEc:brc:brccej:v:7:y:2022:i:3:p:97-108
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    Citations

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    Cited by:

    1. Aurelia TOMSA, 2023. "Features Of Regional Development Of Small And Medium-Sized Enterprises In Moldova," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 8(2), pages 19-24.

    More about this item

    Keywords

    small and medium-sized enterprise; access to finance; main sources of finance; barriers for access to finance;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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