Access to Finance is Vital For Moldova's Development
According to a recent OECD* report on the development of the SME sector in Moldova**:
"[Access] to finance is the prime constraint to the development of companies."
According to the BEEPS***, in 2009, 39% of firms considered access to finance a major or severe obstacle to their development.
In order to be innovative, SMEs need to be able to make long-term investments. Because they often do not have sufficient guarantees for bank lending and because their time-horizon is long, SMEs need to access equity finance. In particular, venture capital and business angel networks can contribute to bridging the financing gaps of growing SMEs.
Angello Capital Partners was founded to identify and support transformational ventures in the developing nations of Emerging Eastern Europe. As well as providing positive commercial returns to Investors, the Directors also seek to deploy capital to help transform communities, hence providing a social return. The response to the Angello proposition has been exciting, to the extent that first allotment of shares to investors has commenced and final screening of first Projects for investment is taking place in Moldova.
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* Organisation for Economic Co-operation and Development.
** OECD (2011), Competitiveness and Private Sector Development, Republic of Moldova 2011: Fostering SME Development, Competitiveness and Private Sector Development, OECD Publishing. http://dx.doi.org/10.1787/9789264112285-en.
*** Business Environment and Enterprise Performance Survey.
