Blog: The first step to start a business in Moldova

“How do you feel about working for a startup?”

“It’s better than working for a shutdown.”

Although this dialogue appears disheartening, it reflects the reality of those who dare to live out of their comfort zone, to seek development and enthusiasm in disregard of social and economic impediments. Many young people nowadays evolve out of the Millennial cocoon of the so-called “safety net” into the learning zone, rooting to end up on the mountain of The Comfort Zone Model: Growth. This is the reason behind the Young European Ambassadors’ event organised at the end of last year in the Centre of Excellence of Economics and Finance: Baby Steps in Starting a Moldovan Business.

The workshop was primarily facilitated by the Manager of the “Start for Youth” programme from ODA (the Organisation for Entrepreneurship Development), an institution with the mission to support the development of the local entrepreneurial environment, through various programmes, several of which are funded by the European Union. Some 70 students with a financial background had the opportunity to address questions regarding the cooperation between Moldova and the European Union in terms of funding, youth business consulting, non-reimbursable financing, EU4Business and other topics of interest. 

On reflection, early life from a professional perspective tends to be overwhelming. Being part of an educational system that often neglects the impact of practice does not make it simple. Therefore, it is vital to attend and set up meetings of the sort that compensate through the power of example, inspiration and real-life lessons. 

The premise of a durable business in your hometown starts with an entrepreneurial mindset, potential growth, and access to financing. Having the business idea is not exactly all you need, but building a realistic plan, measuring economic indicators, and witnessing the dream come true can certainly be feasible with the assistance of the ODA’s experts. 

The main action is supplemented with the idea of keeping yourself accountable, realising that is not as easy as the social media influencers might make it seem through their rose-tinted glasses. It is indeed an oversaturated market globally, and few are the companies that succeed long term. To fully come across, I advise you to check EU4Business for success stories of local organisations funded by the EU. In order to verify the achievement of the event’s objectives, the endeavours ended with a YEA quiz meant to congratulate the ones who acquired substantial information and revealed interest towards our initiative.

The achieved outcomes of the event include greater awareness of the European Union’s financial support for young people from Moldova. Moreover, the interest developed in a prosperous business environment, grants, and consulting services with ODA’s expertise and assets, are of significant importance, especially for those planning on starting and managing a business.

I look forward to hearing about the entrepreneurs of my generation and their success!  Finally, I have no hesitation in recommending what Gretzky used to say, “You miss a hundred per cent of the shots you don’t take”, whether referring to a business, a self-organised event, a book, or an interview, the first step is always the hardest. If anyone can do it, it is you.