The Impact of the Economic Crisis on SMEs

Abstract

The economic crises from the last years has made the Moldovan economy oscillate at extreme values. After the effects of the Covid-19 pandemic and severe drought from 2020, the year 2022 brought a mix of energy crisis, trade disruptions and persistent inflation. These crises have put pressure on the costs and competitiveness of SMEs and revealed that support resources and intervention tools from the Government are limited. On the other hand, the last two years have also brought a positive change in the trend with a positive increase between the number of new businesses registered and the number of businesses closed. In this regard, this work analyzes the effects of the most recent economic crises on SMEs within the Republic of Moldova. Methodologically, this study uses secondary data analysis provided by: the National Bureau of Statistics, national and international reports, as well as the most recent references in this field of research. In addition to the approach based on statistical data, this research also includes the latest data from business surveys to assess the impact of crises through the perception of entrepreneurs. DOI: https://doi.org/10.53486/cike2023.45; UDC: 338.124.4:[334.012.63+334.012.64](478); JEL: G01; M10.