The statistical data show that in most of the cases the women start a business after borrowing money from relatives or friends and they do not usually apply for loans or state subsidies. The debtors have less confidence in businesswomen than in businessmen and thus tend to offer them loans at higher interest rates, shows an employers’ study of the situation of women entrepreneurship in Moldova, IPN reports.

Author of the study Iulia Drumea, project coordinator at the National Confederation of Employers of Moldova, said that despite the liberalization of the financial services, three is a lack of services designed to support women entrepreneurs. The main obstacles faced by the women when they need to obtain financing remain the high interest rates on loans, the lack of long-term financial resources and the difficult pledging procedures. All these impediments result from the debtors’ distrust in the success of businesswomen.

Attending the presentation of the study, Minister of Labor, Social Protection and Family Valentina Buliga said that there are a number of projects in Moldova that support the entrepreneurial activities of young people and women. “We need to join efforts to create a favorable environment for developing women entrepreneurship. We must encourage the distinguished ladies of Moldova,” she stated.

Only 27% of the businesses in Moldova are managed by women, 85% of which are situated in urban areas. The study was made by the National Confederation of Employers with the aim of highlighting the problems faced by the businesswomen in Moldova.