TIRANA, June 8 /ATA/ The Ministry of Finance and Economy has drawn up the draft law “On the development of micro, small and medium –sized enterprises” in order to increase business, boost competitiveness and economic development of the country.”
There has been a low interest in AIDA co-financing schemes, due to lack of information from businesses on how to apply which was by mail and not electronically, lack of business support services, etc.
For this, the MoFE considers it very necessary to review the legal framework to support enterprises to be coherent with its needs.
The goals and targeted results of the draft act are to increase support for small and medium-sized enterprises by 50%, to increase applications for new technologies from zero currently to 50% by 2022, to increase the number of new enterprises on a year to year basis, the number of employees as well as introduce new financial instruments by 10% and increase grant absorption rate by 100%.
The enterprises are divided into micro-enterprises, small and medium-sized enterprises. The category of micro-enterprises and small and medium enterprises (SMEs) includes those enterprises, which employ less than 250 people and realize a business figure and / or a total annual balance below ALL 250 million.
This draft act includes in the state budget the costs stipulated in the Business Development and Investment Strategy 2021-2027, for the support of micro, small and medium enterprises, in the form of financial support (grants) and support services (training, counselling).
The Albanian economy is mainly focused on commercial activity, a phenomenon which is also observed in enterprises registered during 2020. New registrations number 22.1% of commercial enterprises.
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