This Law establishes the legal framework for the activity of micro, small and medium-sized enterprises (SMEs), as well as state support measures for their creation and development. The purpose of this Law is to promote the sustainable development of micro, small and medium-sized enterprises by improving the legal framework and the business environment in which they are created and operate. It aims to ensure and increase the competitiveness and performance of micro, small and medium-sized enterprises, as well as to facilitate prompt adjustment to economic and technological changes. Small and medium-sized enterprises are defined as those enterprises that meet the following criteria and cumulatively the following conditions: (a) have an average annual number of employees (the average number of staff during the management period) of up to 250; and (b) achieves an annual turnover (sales revenue) of up to 100 million lei or has total assets (fixed assets and current assets) of up to 100 million lei, according to the last approved financial statement. State control of small and medium-sized enterprises, during 3 years from their state registration, has an advisory character, with the exception of criminal offences. This Law establishes the competence of the competent public authorities and governing bodies of SMEs in the field of business management. The Fund for Entrepreneurship and Economic Growth of Moldova is created within the public institution Organization for Entrepreneurship Development with the status of an autonomous internal subdivision, without legal personality. The Moldovan Entrepreneurship and Economic Growth Fund aims to provide affordable financing to small and medium-sized enterprises through banks and eligible non-bank lending organizations.
République de Moldova · 2016-07-21