Moldova to Change SME Classification Rules from January 2028

The new classification of small and medium-sized enterprises will come into force on 1 January 2028

Parliament voted in the second reading in favour of a bill harmonising the regulatory framework for small and medium-sized enterprises (SMEs) with European legislation, which will enable them to have greater access to support programmes and instruments.

Marcel Spatari

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According to the Parliament’s Department of Communications and Public Relations, the draft law aims to harmonise the criteria for classifying SMEs and to establish advanced mechanisms to support export competitiveness and access to finance.

The document provides for a change in the criteria for classifying SMEs by increasing the turnover threshold from 25 to 50 million euros and the asset ceiling from 21.5 to 43 million euros. The application of the new financial thresholds and a methodology harmonised with European standards will enable a further 147 enterprises to be included in the SME category. Consequently, more economic operators will be able to benefit from the available support programmes and instruments.

Other changes

At the same time, the legislation has clarified the category of small and medium-sized enterprises. Until now, the regulatory framework for classification had provided only for the categories of micro-enterprises, small enterprises and medium-sized enterprises. Enterprises exceeding the established thresholds are classified directly as large enterprises, with no intermediate category. This situation may limit incentives to expand operations and make new investments, thereby affecting the growth potential and competitiveness of enterprises.

Another provision adopted is aimed at establishing a special mechanism to support the financing of export activities. This includes instruments such as the provision of guarantees or insurance for export credits, direct financing or refinancing of these credits, as well as support measures relating to interest rates.

These measures are designed to diversify sources of finance, reduce over-reliance on bank lending and strengthen alternative support mechanisms for enterprises.

New amendment

For the second reading, the draft law was amended by a proposal put forward by Marcel Spatar, Chair of the Committee on the Economy, Budget and Finance. The amendment stipulates that guarantees issued by the Guarantee Fund will also apply to loans provided to small and medium-sized enterprises via crowdfunding platforms authorised and supervised by the National Commission for the Financial Market. This will ensure fair treatment of the various financing channels and facilitate access to finance for economic operators who do not have sufficient collateral to obtain bank loans.

The new law will come into force one month after its publication in the Official Gazette, with the exception of the articles concerning the thresholds for the classification of SMEs and the categories of small and medium-sized enterprises. These articles will come into force on 1 January 2028.

It should be noted that the small and medium-sized enterprise sector constitutes the main segment of the Republic of Moldova’s economy. It accounts for 99.6 per cent of the total number of enterprises and generates over 72 per cent of national turnover.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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