The values used as criteria for defining the status of SMEs will be adjusted. Ina Voicu, secretary general of the Ministry of Economy, said in Parliament that microenterprise will be considered the firm that has an annual turnover under 18 million lei or assets totaling less than 18 million lei. Currently, this ceiling is of 9 million lei, IPN reports.

The category of small enterprises will include enterprises with an annual turnover under 50 million, up from 25 million lei at present, while the category of medium-sized enterprises – firms with an annual turnover under 100 million lei, up from 50 million lei.

The lowest limit on the number of employees for the classification of SMEs is proposed to be removed.

“In 2021, the small and medium-sized enterprises represented 98.4% of all the enterprises, while in 2020 the figure stood at 98.6%. The number has decreased. The modification of the criteria will enable to maintain the current enterprises and to increase their number by 805 units,” said Ina Voicu.

The bill to amend the law on small and medium-sized enterprises was given a first reading and is to be given one more reading.