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Business Market

Plan de Afaceri: mod de realizare

Planul de afaceri este strîns legat de mediul de afaceri şi de evoluţia acestuia, primele planuri de afaceri au apărut cu mult înainte de apariţia computerului şi a tehnologiei informatice dar rolul şi importanţa unui plan bine făcut, a rămas aceeaşi pînă în zilele noastre. De fapt principiile de baza ale banilor şi ale afacerilor de succes, rămîn mereu neschimbate. Un business plan poate avea ca utilitate atît prezentarea firmei sau a ideii/proiectului/afacerii dvs., dar mai ales poate avea o utilitate de uz intern, conferirea unei mai mari clarităţi asupra targhetului afacerii, marketingului şi gestionării intregii activităţi. Un plan de afaceri clar şi realist va ajuta să vedeţi dacă afacerea dvs. se îndreaptă sau nu spre ţelurile pentru care a fost demarată, daca nu, care sunt cauzele, unde este greşeala, cum se poate îndrepta şi aşa mai departe. Pe scurt putem spune că un plan de afaceri reprezintă pentru o firma ceea ce reprezintă un sistem GPS pentru un şofer de cursă lungă. În primul rînd   planul unei afaceri trebuie să ţina cont de profilul afacerii, de mediul în care se va desfăşura activitatea, de obiectivele afacerii şi de ţelul urmărit prin realizarea acestora. Atunci cînd un plan de afaceri este bine realizat, acesta va contribui la realizarea de prezentări de succes către parteneri de afaceri, finanţatori şi nu în ultimul rînd vă va ajuta la organizarea şi cunoaşterea propriei afaceri.

Principalele capitole ale unui business plan:

• Introducere
• Descrierea firmei/afacerii
• Echipa şi managementul companiei
• Prezentare produse şi/sau servicii
• Analiza pieţei
• Strategia firmei/afacerii şi implementarea ei
• Informaţii financiare
• Anexe şi alte documente

În funcţie de targetul afacerii, planul poate conţine elemente specifice, afară de cele prezentate mai sus. Importanţa fiecărui capitol este determinată de scopul urmărit şi de specificul afacerii dvs. De asemenea, ar trebui să verificaţi la partenerul/firma/instituţia unde se va prezenta planul de afaceri, cu privire la eventualele cerinţe specifice sau suplimentare de realizare a planului de afaceri.

Scurtă detaliere a capitolelor unui plan de afaceri profesionist:

Cît mai sugestiv, de exemplu „Planificarea afacerii al S.R.L…. cu privire la noua linie de producţie…..” sau „Planul pentru afaceri al S.C…. pe anul 2018”, etc. Titlul se trece pe prima pagină sau pe coperta şi tot pe prima pagină trebuiesc trecute şi datele de contact şi identificare a firmei, logo-ul.

2. Cuprinsul planului de afaceri

Un index cu capitolele planului de afaceri şi cu numărul paginilor la care se regăsesc acestea.

3. Introducere

Aici veţi rezuma pe scurt obiectivele planului şi structura lui. Nu vă pierdeţi prea mult în detalii

4. Descrierea firmei/afacerii

Informaţii cu priviere la firma, fondatori, parteneri, eventuali investitori, sedii, active, pasive, etc. Dacă nu aveţi o firmă şi prezentaţi planul de afaceri pentru investitori, în acest capitol veţi descrie afacerea.

5. Echipa şi managementul

Cum spune şi titlul acestui capitol, aici veţi descrie colectivul echipei dumneavoastră şi rolul pe care îl deţine fie

6. Prezentarea produselor şi/sau serviciilor

Descrierea calităţilor şi neajunsurilor produselor/serviciilor dvs. Îmbunătăţirile pe care doriţi să le aduceţi pe viitor sau noile linii de producţie pe care doriţi să le realizaţi.

7. Analiza pieţei

Prezentarea pieţei de desfacere a produselor şi serviciilor firmei:

• numărul clienţilor existenţi şi potenţiali
• mărimea pieţei de desfacere
• concurenţa existentă la acesta ora pe piaţă
• tendinţele de evoluţie a pieţei

În fine, tot ce se poate spune despre piaţa căreia i se adresează produsele şi serviciile afacerii.

8. Obiective

O estimare realistă a targhetului (obiectivelor) afacerii pe termen scurt şi pe termen lung. Poţi fi estimate comparativ atît în variantă oprimistă cît şi în cea pesimistă.

9. Strategia firmei/afacerii si implementarea ei

Strategia de introducere a produselor/serviciilor pe piaţă sau de menţinere a vînzărilor la un nivel optim, dacă produsele şi serviciile afacerii/firmei sunt deja pe piaţă. De asemenea puteţi vorbi despre strategia de marketing şi modul în care vă gîndiţi să o implementaţi.

10. Informaţii financiare

De multe ori acesta este cel mai important capitol al planurilor de afaceri, mai ales în cazul atragerii de fonduri sau atragerii de investitori. De multe ori chiar investitorii sau companiile de credit, cărora le prezentaţi planificarea afacerii, vă pot oferi modele pentru acest capitol de informaţii financiare.

De regulă aceste informaţii financiare cuprind, dar nu se limitează la:

• informaţii şi raporturi contabile
• fluxuri monetare periodice (trimestriale, lunare, anuale, etc.)
• estimări ale vînzărilor, veniturilor sau cheltuielilor trimestriale, lunare sau anuale ale afacerii şi aşa mai departe, în funcţie de cerinţele investitorilor sau societăţilor creditoare cărora le prezentaţi respectivul plan de afaceri

Uneori investitorii sau instituţiile pentru care intocmiţi respectivul plan al afacerii au cerinţe specifice cu privire la informaţii şi documente pe care le vor ataşate la planul propriu zis. În aceste condiţii vor numi ei anexele şi documentele de care sunt interesaţi. Ceea ce este de remarcat e faptul că nu se poate copia un plan de la o afacere şi să-l transplantezi la alta. Tocmai aceasta e caracteristica unui plan bun de afaceri: trebuie să fie adaptat fiecărei afaceri în parte. Articolul de mai sus şi cele auxiliare, vă pot ajuta să găsiţi harta spre alcătuirea propriului plan de afaceri, potrivit cerinţelor şi specificului afacerii dumneavoastră. Indiferent dacă aveţi sau nu nevoie de investitori, parteneri sau finanţări, de un plan de afaceri tot veţi avea nevoie fie şi numai pentru uzul propriu. Un astfel de document vă ajută să vă cunoaşteţi mai bine propria afacere şi să vedeţi cu mai multă claritate oportunităţile şi strategiile pe care trebuie să le puneţi în aplicare. Dacă nu aveţi deja un plan pentru firma şi afacerea dumneavoastră ar fi cazul să vă faceţi unul urmînd modelul de mai sus sau adresîndu-vă la un expert specializat în elaborarea planurilor de afaceri cum ar fi www.businessmarket.md  .

P.S. Pentru mai multă informaţie vizitează rubrica  https://www.businessmarket.md/business-planuri/  sau apleazăne la 079386621 , 069593336.

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STUDIU FEZABILITATE

Investițional, business experiența.

În ultimii șapte ani, oferim servicii companiilor private și de stat, din diferite sectoare ale economiei. Clienții noștri operează în următoarele sectoare ale economiei:

Abordare individuală

Fiecare companie este individuală și de multe ori succesul pe piață se bazează pe proprietățile distincte ale produselor și serviciilor companiei. Lucrând la proiectul de creare a unui business plan, încercăm să luăm în considerare specificul activităților unei companii concrete, subliniind avantajele reale ale companiei clientului în comparație cu alți jucători. Acest lucru ne permite să dezvoltăm business planuri și alte lucrări specifice, care au un potențial mult mai sporit în atingerea obiectivului propus.

AGRICULTURA

Experiență confirmată

Compania are ca angajați experți și consultanți cu experiență, inclusiv absolvenți de școli de business (MBA), contabili certificați internațional, manageri cu experiență în sectorul real al economiei. Bazându-ne pe experiența bogată în colaborarea cu diverși clienți, putem afirma cu încredere că vom asigura nivelul necesar în ceea ce privește calitatea lucrărilor efectuate, cu respectarea termenilor și condițiilor de execuție agreate. Mulți dintre clienții noștri apelează la serviciile noastre pe o perioadă îndelungată de timp.

TRANSPORTURI

INFRASTRUCTURĂ

Orientare spre rezultatul

Ne axam asupra sarcinilor clientului și ne concentrăm asupra atingerii rezultatului cerut. În cele mai multe cazuri, business planurile elaborate de noi sunt concepute pentru a atrage finanțări în proiectele de afaceri ale clienților noștri, în calitate de partener financiar în care este privită o bancă comercială sau un investitor privat. Este foarte important pentru noi dacă clientul va atinge acest obiectiv și cum vor spori șansele de succes ale clientului în negocierile cu partenerul financiar. Dacă este necesar, îi ajutăm pe client să organizeze prezentarea proiectului potențialilor parteneri.

BUSINESS PLAN COMANDA

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Moldova Legal

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Company registration

Citizenship, visa acquisition, accountancy, doing business, tax solutions, business setup in moldova.

Whether you are just looking for business to invest in, launching a new business venture, or relocating to Moldova for business, our company will assist you in every step of the process.

We will provide you with all the information and support you need to set up a successful business in Moldova.

Business setup solutions

We are the perfect option for anyone looking to get your company up and running in Moldova quickly and efficiently.

Document drafting

Establishing a business in Moldova always starts with the acquisition of the necessary permits, licenses, and documents.

Legal address registration

The legal address of your company is crucial for registering with the authorities and for conducting business in the Moldovian territory.

Corporate bank account opening

To start your new company in Moldova, it is necessary to have a bank account.

We will guide you through the Moldovain company registration procedure, provide assistance regarding taxation and ensure that your business enjoys all available benefits in your canton.

Business Plan

A business plan is more than just an idea or a few notes jotted down on a piece of paper – it’s a comprehensive and clear template of how you plan to run the business.

Market research

Before setting up a business in Moldova, it is essential to research the market. To be guaranteed success, you must know as much as possible about your target audience, as well as potential competitors. This allows you to make decisions that would propel your business to success even in a complex environment like Moldova.

Market entry

Once you have identified the market you want to enter, you need to ensure that you do it right. The cost of entry (financial and time) is relatively high, and the competition is fierce. Therefore, you need to consider your position in the market in Moldova carefully.

Business registration

Once you have decided to base your company here, there are several steps that you must take to ensure that your business is legally registered in Moldova.

Here are some of the steps you must complete to set up your business in the Moldovian territory:

• Register with Commercial Registry of Trade Registry,
• Choose a legal form for your business,
• Choose a name for your company,
• Open a corporate bank account,
• Get a legal address for your business,
•  and paying necessary registration fees.
• Obtain a business license and other approvals for commercial activity.

Get started

We are experts in opening companies in Moldova for residents and non-residents. Our lawyers and consultants can assist you with all your questions and needs regarding business setup. We will provide you with all our expertise to help you set up your business in Moldova.

Business opportunities in Moldova

Bordered by  Ukraine to the East and  Romania to the West, Moldova is close to the CIS and EU markets, with which the country has FTA arrangements. Free economic zones with tax incentives and duty-free imports of raw materials are a good opportunity to set up export-oriented industries . 

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Small and Medium Enterprises in Moldova Handbook

A sustainable and properly managed business is also our success.

What is the SME Handbook?

The SME Handbook is a practical and useful tool for Small Business Community to introduce bureaucratic, legal, financial and startup topics needed to start and develop a successful business in Moldova. This is the first guide created in a participative way that involved more than 100 representatives from SMEs, education, business support organizations, local authorities and youth. This tool provides you with the best information and latest techniquest so that you can approach whatever business problem you are working on with the best information and tools possible. We aim to give you the basic understanding of the business topic so that you can 1) plan and forecast and 2) know what questions you should be asking of accountants, lawyers, bureaucrats or whatever other person/group you need to engage with.

What is inside the Handbook

Book 1: moldova business primers.

✓ Local taxes ✓ Registration and regulation ✓ Other key aspects of doing business in Moldova

Book 2: Business Tools

✓ The latest business planning tools ✓ Classic tools and techniques

The Handbook is for

Why is the Handbook so good?

✓ Concise and useful ✓ Practical and always available ✓ Created in a participatory way ✓ Available in 3 languages ✓ Continuously updated

Manage your business in a correct and effective manner to make your profit grow!

Download for free

The Handbook was created under the sponsorship of the Swiss Agency for Development and Cooperation SDC

Thank you for choosing the Moldova Small Business Handbook! Best of luck to you in starting a new business or improving the market position of your current company. May everything you’ve planned come to fruition! And AIM is happy to help you in every possible way. David Smith General Editor, Moldova Small Business Handbook

Please note!

This Handbook is not a Curriculum. It is not intended to be your only guide for running your business. Don’t expect that you will read this Handbook front to back and find every section useful or applicable to you. Should it happen so that you couldn’t find something that applies to your company or situation 100%, we are happy to get your questions or suggestions and help you sort out any problem. Fill in the contact form below and send the information to us.

Have questions or suggestions?

Model de plan de afaceri. Cum trebuie să arate și ce să conțină

Model de plan de afaceri

Un plan de afaceri sau „business plan” este un document care descrie afacerea pe care intenționezi să o pornești, investiția pe care o faci, metoda de monetizare, estimările de cîștig, dar și predicțiile de creștere. Un astfel de plan de afaceri îți oferă o imagine de ansamblu a etapelor de dezvoltare a afacerii și te ajută să ai mereu la îndemînă toate informațiile importante despre business-ul tău.

Degeaba ai o idee poarte bună, cu potențial, dacă nu știi să o pui în practică. Iar planul de afaceri asta face, te ajută să o pui corect în practică și să atragi posibili investitori.

Care este structura unui plan de afaceri

Un plan de afaceri trebuie să cuprindă cel puțin cinci capitole importante, în funcție de specificul afacerii, pentru care trebuie să furnizezi informații. Fiecare dintre acestea prezintă, în detaliu, diferite aspecte ale afacerii pe care plănuiești să o dezvolți. Iată care este structura unui plan de afaceri:

1. Descrierea planului de afaceri Această secțiune trebuie să conțină o scurtă descriere a elementelor cheie din acesta, cu scopul de a arăta pe scurt ce face business-ul și de ce consideră că este o idee de succes.

2. Descrierea companiei În această secțiune trebuie să oferi informații despre: misiunea și valorile companiei, un scurt istoric al acesteia, obiectivele propuse.

3. Descrierea produselor și/sau a serviciilor Informațiile de la acest capitol sînt despre caracteristicile acestora, stadiul de dezvoltare, beneficiile pe care le aduc pe piață, tehnologia utilizată la realizarea acestora, produsele sau serviciile pe care planifici să le lansezi pe viitor.

4. Analiza pieței căreia se adresează afacerea ta Acest capitol trebuie să conțină informații despre: cota de piață și potențialul de creștere pe care îl au produsele sau serviciile tale, segmentarea pieței, piața țintă, nevoile pieței, tendințele acesteia, o analiză a industriei, detalii despre competitori și oportunitățile pe care le oferă piața.

5. Analiza SWOT SWOT este un acronim pentru patru indicatori ai unei afaceri: Strenghts – Puncte forte, Weaknesses – Puncte slabe, Opportunities – Oportunități, Threats – Amenințări:

• Punctele forte: practic, acestea sînt punctele care te vor diferenția de concurență și cu care va excela afacerea ta;
• Punctele slabe: lucrurile care împiedică afacerea ta să ajungă la un anumit nivel;
• Oportunități: factorii externi favorabili care îi pot oferi afacerii tale un avantaj competitiv;
• Amenințări: factori naturali care pot influența afacerea ta, cum ar fi: creșterea costurilor, a concurenței sau alte lucruri care te pot afecta.

6. Strategii de implementare În această secțiune trebuie să detaliezi despre: valoarea pe care o oferă produsele sau serviciile oferite de tine, avantajul competitiv pe care îl ai pe piață, strategia de marketing (poziționarea, strategia de produs/serviciu, strategia de preț, strategia de distribuție, strategia de promovare, programele de marketing), strategia de vînzări (previziuni de vînzări, programe de vînzări), parteneriate strategice, sistem de monitorizare și evaluare.

7. Management Aici trebuie să oferi detalii despre structura organizaținală, echipa managerială, dar și despre un plan de recrutare și instruire.

8. Planificarea financiară Înainte de a porni o afacere, un antreprenor are nevoie de un buget realist care să reflecte atît sumele necesare pentru demararea acestuia, cît și pentru funcționarea sa. Iar aici intră costurile salariale, costurile echipamentelor, cheltuielile cu utilitățile, chiriile, autorizații de funcționare, promovare.

Așa că, la acest capitol trebuie să oferi informații despre: indicatori financiari cheie, proiecții financiare, previziuni de cash-flow, analiză cost-beneficiu, surse de finanțare, managementul riscului, finanțarea sau necesarul de finanțare, soluții de finanțare.

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Setting up a business in the Republic of Moldova and Residence permits for non-residents

From the creation and registration of the business to the completion and finalization of formalities for proper operation.

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A team of experts works for your project

We respond to any request within 24 hours

We offer fairness and professionalism based on the experience of working with over 100 companies

We have over 10 years of experience in providing business setup services and the development of Business Plans, especially for non-residents

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VIOSER employees are fluent in Romanian, Russian and English

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The documents are drawn up in accordance with the law in force

The service for setting up a business and obtaining a residence permit for non-residents includes:

• Consulting on the creation and registration of companies and organizations in the Republic of Moldova
• Registration of changes: company name, legal address, shareholders, administrator, types of activities, share capital
• Asistenţă în obținerea extrasului din Registru de Stat sau a altor acte solicitate
• Elaboration of Business Plans for: business development, Startups, contracting an investment loan from the bank or another financial institution, obtaining financing within the projects financed by international institutions
• Elaboration of Feasibility Studies for starting new businesses and evaluating the possibility of expanding the business to other markets
• Assistance in making an investment in the Republic of Moldova
• Assistance and consultancy regarding the secondment of non-residents on the territory of the Republic of Moldova
• Assistance and advice in preparing and submitting the file to the Office for Migration and Asylum in order to obtain the right of temporary residence for foreign citizens in the Republic of Moldova

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Services are provided to companies in all industries, including:

Agriculture, microfinance institutions, construction, medical services, consultancy, pharmaceutics.

Correctness of declaring and retaining of Income Tax from Capital Growth

The Feasibility Study for Opening a Currency Exchange House

Maintenance of accounting, HR and payroll

Corporate staff training on Taxes and Accounting - based on specific verification and conciliation procedures applied in Audit projects

Tax and Accounting diagnoses when reorganization of the company takes place

Assessment of the accounting department: internal working processes and level of accountants qualification.

Customer reviews

Aducem mulțumiri pentru efortul depus. Expertiza și atenția la detalii de care a dat dovadă Sergiu Rulmeanschi în elaborarea planului de business solicitat au generat un rezultat pe măsura promisiunilor. Apreciem integritatea de care dați dovadă. Vă dorim prosperitate - atât echipei Vioser Consulting, cât și clienților dvs.

Administratorii Vioser au fost foarte receptivi la solicitarea noastră de setare a afacerii în Republica Moldova, astfel au reușit într-un termen foarte restrâns și fără întîrziere să realizeze cele propuse .De asemenea, au înregistrat compania noastră ca și rezident al IT Park foarte rapid și eficient. Vioser este o echipă de profesioniști și recomandăm cu încredere serviciile lor.

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Starting a business in Moldova

1. the business environment in moldova, 2. the business process in moldova, 3. the business opportunities in moldova, 4. the business risks in moldova, 5. the funding options for starting a business in moldova, 6. the legal framework for starting a business in moldova, 7. the practical steps for starting a business in moldova, 8. the tips for succeeding as a business owner in moldova, 9. the case studies of successful businesses in moldova, 10. closing thoughts.

Moldova is a country in southeastern Europe that shares borders with Ukraine to the north, Romania to the east, and Serbia and Montenegro to the south. It is bordered by the Black Sea to the west, and by Romania and Bulgaria to the southeast. The total population of Moldova is about 27 million.

Moldova has been inhabited for over 10,000 years. The area that now makes up Moldova was part of the Roman Empire until it fell in 476 AD. The area was then part of the Byzantine Empire until it fell in 1453. The area was part of Hungary until it became an independent country in 1881. The area became a Soviet Union republic from 1991 to 1991.

Moldovas political situation is also difficult to predict due to the many challenges that still remain after more than 15 years of political instability and violence. Despite these challenges, starting a business in Moldova can be a rewarding experience if done correctly and with dedication. There are a number of opportunities available for entrepreneurs who want to start their own business in Moldova, including:

1) Low cost of living In Moldova, prices for goods and services are very low compared to other countries in southeastern Europe. This means that there are a number of businesses that are willing to offer low prices for products and services in order to attract potential customers .

2) Easy access to capital In addition to low costs of living, Moldova has also seen an increase in capital availability over the past few years due to foreign investment. This means that businesses can quickly access funding if they need it.

3) excellent legal environment Although there are still some challenges facing businesses in Moldova due to the factions fighting for control over the government, overall the legal environment is excellent compared to other countries in southeastern Europe.

4) Well-developed infrastructure Although moldovan businesses do not usually rely on outside funding for their operations, there are a number of well-developed infrastructure improvements available that make starting a business easy and efficient. This includes:

-Good transportation options - Many businesses find that they can easily get around town by taking public transportation or using smugglers as middlemen between buyers and sellers on the black market;

-Good internet access - Most businesses find good internet access available either through government-provided services or through private providers;

-Good phone service - Finally, many businesses find good phone service available either through state-run companies or through private providers;

There are a few key things you need to do when starting a business in Moldova. First, find a business lawyer who can help you with all the paperwork and start up costs. Second, make sure that you have a solid plan for revenue and expenses . Third, make sure that your business is up and running as quickly as possible - there are many months or even years until you can begin to make money.

Moldova is a small, but strategically important country located in Eastern Europe. With a population of just over 4 million people, Moldova is one of the poorest countries in the region. However, there are many business opportunities that can be made in Moldova.

One of the most popular businesses in Moldova is tourism. The country has many beautiful and interesting locations, and tourists are a major source of revenue for businesses. Other popular businesses in Moldova include agricultural products, construction, and manufacturing.

There are many opportunities for businesses to start in Moldova. If you are interested in starting a business in Moldova, there are a number of resources available to you. The government of Moldova is very helpful in providing information about business opportunities and assistance can be obtained from local entrepreneurs or business associations.

If you are looking for an entrepreneur-friendly environment to start business , Moldova might be the right place for you.

I have started or run several companies and spent time with dozens of entrepreneurs over the years. Virtually none of them, in my experience, made meaningful personnel or resource-allocation decisions based on incentives or policies. Andrew Yang

Moldova is a difficult country to start a business. There are many risks that businesses face in Moldova. These include:

1. Lack of access to capital: Many Moldovan businesses have difficulty getting the money they need to start their businesses. This can be due to low levels of economic development, limited access to credit , or simply the difficult business environment.

2. Corruption: Corruption is a major risk in Moldova. It can be difficult for businesses to get the necessary permits and licenses, and corrupt officials can often take advantage of businesses in order to make money or power their positions.

3. Poor infrastructure: The infrastructure in Moldova is often not up to par. This can lead to a number of problems for businesses, including difficulty getting equipment and supplies, slowdowns in production, and difficulties dealing with customs regulations.

4. Limited market potential: While Moldova has a large population and potential market, there are very few businesses that are able to create a successful business in thiscountry. This is due in part to the poor economic conditions, but also due to the lack of competition and lack of resources that businesses need to start and grow their businesses.

The business risks in Moldova - Starting a business in Moldova

There are a number of funding options for starting a business in Moldova. These include angel investors, venture capitalists, and private equity firms . Angel investors typically invest in early stage startups and provide them with limited capital to grow their businesses. Venture capitalists invest in new companies that have the potential to achieve great success. Private equity firms invest in late stage startups that have innovative or successful products or services to offer investors.

Angel investors are typically more interested in investing in startups with the potential to make a significant impact in the world than those that have already achieved success. They typically provide an initial investment of between $200,000 and $1 million.

venture capitalists are more interested in investing in companies that have the potential to reach a larger audience than those that have already achieved success. They typically provide an initial investment of between $500,000 and $1 million.

Private equity firms are less likely to invest in companies until they have either achieved success or shown potential for success in the future. They typically provide an initial investment of between $1 million and $5 million.

Starting a business in Moldova is not as difficult as it may seem. There are a number of legal frameworks that exist to help businesses operate in the country, and many small businesses find success by following these guidelines.

In order to start a business in moldova , you will first need to obtain a business license from the Ministry of Commerce and Industry. Once you have this license, you will also need to register your business with the authorities.

Once your business is registered with the authorities, you will need to apply for a loan from a financial institution. You will also need to complete an application for tax clearance from the Tax Administration.

Once all of these steps are complete, you will be ready to start functioning as a business in Moldova. There are a number of resources available to help you get started, and with the right support, you can enjoy success in this unique country.

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Businesses are always starting up, but it can be a challenge to set up and manage them successfully. In Moldova, starting a business is a very practical step, as there are many resources and support available to help you get started.

There are a few key things you need to do in order to get started:

1. Research the business climate in Moldova before making any investment. Check the websites of local business directories to see what types of businesses are available and how much rent or tariffs they charge.

2. Get familiar with the local language and culture. It takes time to learn the language and develop strong relationships with your customer base.

3. Find an investor or partner who can provide financial support and guidance. The best way to succeed in Moldova is to have an experienced team behind you, who can provide expert advice on running a successful business .

4. Make sure your business is licensed and registered with the relevant authorities. This will ensure that you are able to receive any state subsidies or tax breaks that may be available.

5. Keep an open mind towards new opportunities and technologies that may be useful in your industry. By keeping up with latest trends , you will be able to develop new products and services that will appeal to your customer base.

The practical steps for starting a business in Moldova - Starting a business in Moldova

There are a few things you can do to succeed as a business owner in Moldova. First, be prepared for the challenges and make sure you have the resources to deal with them. You'll also need to be organized and efficient in your operations. Finally, be sure to keep your business goals and objectives clear so you can focus on what's important.

There are a number of Moldovan businesses that have achieved success in recent years. Some of these businesses are examples of how business can be successful in a difficult environment.

One business that has enjoyed success is the restaurant chain "Luchua". The restaurant has been in business for over 25 years and has seen many iterations. In 2013, the company was purchased by a Romanian company. The new management has made numerous changes to the chain, including moving it out of the city and into a more rural setting.

Luchua's popularity in Moldova is due to its consistent quality and variety of food. The restaurant offers a wide variety of dishes, both national and international. It also offers an extensive wine selection.

Another successful business in Moldova is the automotive dealership "Bucarest". The dealership has been in business since 1984 and specializes in purchasing and selling new cars. In 2013, Bucarest was purchased by a Romanian company. The new management has made numerous changes to the dealership, including expanding it into multiple locations across the country.

Bucarest offers customers a wide variety of vehicles, both foreign and domestic. It also provides excellent customer service . The dealership is known for its quality workmanship and for being reliable."

1. Get started early: The sooner you start your business, the better. With only four months to go until the start of the year, your business should be planning its marketing strategy and setting up shop in an area that is popular with tourists.

2. Find an area that is thriving: if you are looking to set up your business in an area that is already thriving, look for areas like Chiinu or Bihor. These areas are full of businesses that are looking to bring in new customers and make money.

3. Get organized: getting organized can be one of the most important things you can do for your business. Make sure to have everything under one roof so that you can better track your progress and make decisions quickly.

4. Create an effective website: having an effective website is essential for any business. Make sure to create a high-quality website that will help potential customers find what they are looking for.

5. Start your own social media accounts: starting your own social media accounts can help you build relationships with potential customers and increase your visibility online. You can also use these accounts to promote your product or services.

Closing thoughts - Starting a business in Moldova

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EU is supporting small and medium enterprises (SMEs) in Republic of Moldova through its EU4Business initiative. At this platform, you may learn how to get a credit or a grant, improve your business development skills and get access to new markets.

• Access to Finance
• Business Development Services
• Business Enabling Environment

• Consultancy services
• Trade information

• Information and Communication to SMEs on regulatory reform

DB 2019 Score

Last year's scores are adjusted. They are based on 10 topics and reflect  data corrections .

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Starting a business

Dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency.

The steps of launching a business are shown below. Included are: the number of procedures entrepreneurs can expect to go through to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement as a percentage of gross national income (GNI) per capita.

Procedure – Men (number)

The total number of procedures required for married men to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology

Time – Men (days)

The total number of days required for married men to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

Cost – Men (% of income per capita)

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law for married men.

Procedure – Women (number)

The total number of procedures required for married women to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

Time – Women (days)

The total number of days required for married women to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

Cost – Women (% of income per capita)

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law for married women.

Paid-in min. capital (% of income per capita)

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

Procedures (number)

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

Time (days)

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

Cost (% of income per capita)

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

For details,  read more

*  This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure.

Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a different procedure list for men and women, the graph shows the time for women.  For more information on methodology, see the  Doing Business  website ( http://www.doingbusiness.org/en/methodology ). For details on the procedures reflected here, see the summary below.  

Shown below are the procedures, time, and costs to build a warehouse, including obtaining necessary licenses and permits, completing required notifications and inspections, and obtaining utility connections.

The total number of procedures required to build a warehouse. A procedure is any interaction of the company’s employees or managers with external parties.

The total number of days required to build a warehouse. The measure captures the median duration that local experts indicate is necessary to complete a procedure in practice.

Cost (% of warehouse value)

Cost is recorded as a percentage of the warehouse value.

Building quality control index (0-15)

The building quality control index is based on six other indices—the quality of building regulations, quality control before construction, quality control during construction, quality control after construction, liability and insurance regimes, and professional certifications indices.

The challenges required for a business to obtain a permanent electricity connection for a newly constructed warehouse are shown below. Included are the number of steps, time, and cost.

The number of procedures to obtain a permanent electricity connection. A procedure is defined as any interaction of the company employees or the company’s main electrician with external parties.

The number of days to obtain a permanent electricity connection. The measure captures the median duration that the electricity utility and experts indicate is necessary in practice, rather than required by law, to complete a procedure.

The cost is recorded as a percentage of the economy’s income per capita. Costs are recorded exclusive of value added tax.

Reliability of supply and transparency of tariff index (0-8)

The reliability of supply and transparency of tariffs index is calculated on the basis of the following six components: duration and frequency of power outages, tools to monitor power outages, tools to restore power supply, regulatory monitoring of utilities’ performance, financial deterrents aimed at limiting outages, and transparency and accessibility of tariffs.

Note: If new commercial connections to the electricity grid were not issued in a given year, or if electricity is not provided during that period, the economy receives a “no practice” mark on the procedures, time and cost indicators. A “no practice” economy receives a score of 0 on the reliability of supply and transparency of tariff index regardless of the regulatory practices that are applicable to the reliability of supply and transparency of tariffs.

Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a different procedure list for men and women, the graph shows the time for women.  For more information on methodology, see the  Doing Business  website ( http://www.doingbusiness.org/en/methodology ). For details on the procedures reflected here, see the summary below.

The ease with which businesses can secure rights to property is shown below. Included are the number of steps, time, and cost involved in registering property.

The total number of procedures legally required to register property. A procedure is defined as any interaction of the buyer or the seller, their agents (if an agent is legally or in practice required) with external parties.

The total number of days required to register property. The measure captures the median duration that property lawyers, notaries or registry officials indicate is necessary to complete a procedure.

Cost (% of property value)

Cost is recorded as a percentage of the property value, assumed to be equivalent to 50 times income per capita. Only official costs required by law are recorded.

Quality of the land administration index (0-30)

The quality of land administration index has five dimensions: reliability of infrastructure, transparency of information, geographic coverage, land dispute resolution, and equal access to property rights.

Measures on credit information sharing and the legal rights of borrowers and lenders are shown below. The Legal Rights Index ranges from 0-12, with higher scores indicating that those laws are better designed to expand access to credit. The Credit Information Index measures the scope, access and quality of credit information available through public registries or private bureaus. It ranges from 0-8, with higher values indicating that more credit information is available from a public registry or private bureau.

Strength of legal rights index (0-12)

This index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending.

Depth of credit information index (0-8)

This index measures rules and practices affecting the coverage, scope and accessibility of credit information available through either a credit registry or a credit bureau.

Credit registry coverage (% of adults)

This indicator reports the number of individuals and firms listed in a credit registry with information on their borrowing history from the past 5 years.

Credit bureau coverage (% of adults)

This indicator reports the number of individuals and firms listed by a credit bureau with information on their borrowing history from the past 5 years.

The indicators below describe dimensions of minority investors' protections. Three dimensions concern regulation that addresses conflicts of interest (extent of conflict of regulation index) and measure: (i) transparency of related-party transactions (extent of disclosure index), (ii) shareholders’ ability to sue and hold directors liable for corporate self-dealing (extent of director liability index), and (iii) access to evidence and allocation of legal expenses in shareholder litigation (ease of shareholder suits index). Other three dimensions concern shareholders’ rights in corporate governance (extent of shareholder governance index) and measure: (i) shareholders’ rights and role in major corporate decisions (extent of shareholder rights index), (ii) governance safeguards protecting shareholders from undue board control and entrenchment (extent of ownership and control index), and (iii) transparency on beneficial ownership stakes, compensation, annual meetings, and audits (extent of corporate transparency index).

Extent of disclosure index (0-10)

The extent of disclosure index measures the approval and disclosure requirements of related-party transactions. This index ranges from 0 to 10 and has five components.

Extent of director liability index (0-10)

The extent of director liability index measures when can board members be held liable for harm caused by related-party transactions and what sanctions are available. This index ranges from 0 to 10 and has seven components.

Ease of shareholder suits index (0-10)

The ease of shareholder suits index measures how likely are plaintiffs to access internal corporate evidence and recover legal expenses. This index ranges from 0 to 10 and has six components.

Extent of shareholder rights index (0-6)

The extent of shareholder rights index measures the role of shareholders in key corporate decisions. This index ranges from 0 to 6 and has 6 components.

Extent of ownership and control index (0-7)

The extent of ownership and control index measures the rules governing the structure and change in control of companies. This index ranges from 0 to 7 and has 7 components.

Extent of corporate transparency index (0-7)

The extent of corporate transparency index measures the level of information that companies must share regarding their board members, senior executives, annual meetings and audits. This index ranges from 0 to 7 and has 7 components.

Note:  To score on the extent of shareholder rights, extent of ownership and control, and extent of corporate transparency indexes, economies must have or be part of an active stock exchange with at least 10 equity issuers offering their shares to the public. For economies that are part of a regional stock exchange, the protecting minority investors indicator set counts the total number of equity issuers listed on the regional stock exchange. State-owned enterprises and companies that issue only nonequity securities (for example, bonds) or shares without voting rights (for example, preferred shares without voting rights) are not counted.

This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures the administrative burden of paying taxes and contributions and complying with postfiling procedures.

Payments (number per year)

The total number of taxes and contributions paid, the method of payment, the frequency of payment, the frequency of filing and the number of agencies involved for the standardized case study company during the second year of operation. It includes taxes withheld by the company, such as sales tax, VAT and employee-borne labor taxes.

Time (hours per year)

The time it takes to prepare, file and pay (or withhold) the corporate income tax, value added or sales tax, and labor taxes, including payroll taxes and social contributions (in hours per year).

Total tax and contribution rate (% of profit)

The total tax rate measures the amount of taxes and mandatory contributions payable by the business in the second year of operation, expressed as a share of commercial profits.

Postfiling index (0-100)

The postfiling index is based on four components—time to comply with VAT refund, time to obtain VAT refund, time to comply with a corporate income tax correction and time to complete a corporate income tax correction. If both VAT and corporate income tax apply, the postfiling index is the simple average of the scores for each of the four components. If only VAT or corporate income tax applies, the postfiling  index is the simple average of the scores for only the two components pertaining to the applicable tax. If neither VAT nor corporate income tax applies, the postfiling index is not included in the ranking of the ease of paying taxes.

Note:  If an economy does not levy any taxes, the set of indicators in Paying Taxes are recorded as “no practice’. 

This topic measures the time and cost (excluding tariffs) associated with three sets of procedures—documentary compliance, border compliance and domestic transport—within the overall process of exporting or importing a shipment of goods.

Time to export: Border compliance (hours)

The time and cost for border compliance include time and cost for obtaining, preparing and submitting documents during port or border handling, customs clearance and inspection procedures.

Cost to export: Border compliance (USD)

Time to export: documentary compliance (hours).

The time and cost for documentary compliance include the time and cost for obtaining documents, preparing documents, processing documents, presenting documents, and submitting documents.

Cost to export: Documentary compliance (USD)

Time to import: border compliance (hours), cost to import: border compliance (usd), time to import: documentary compliance (hours), cost to import: documentary compliance (usd).

Enforcing Contracts measures the time and cost for resolving a commercial dispute through a local first-instance court and the quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and efficiency in the court system.

The time to resolve a dispute, counted from the moment the plaintiff decides to file the lawsuit in court until payment. This includes both the days when actions take place and the waiting periods in between.

Cost (% of claim value)

The cost in court fees, attorney fees (where the use of attorneys is mandatory or common) and enforcement fees expressed as a percentage of the claim value.

Quality of judicial processes index (0-18)

The quality of judicial processes index measures whether each economy has adopted a series of good practices in its court system in four areas: court structure and proceedings, case management, court automation and alternative dispute resolution.

The time and cost required to resolve bankruptcies is shown below. The data identifies weaknesses in existing bankruptcy law and the main procedural and administrative bottlenecks in the bankruptcy process. The recovery rate, expressed in terms of how many cents on the dollar claimants recover from the insolvent firm, is also shown.

Recovery rate (cents on the dollar)

The recovery rate calculates how many cents on the dollar secured creditors recover from an insolvent firm at the end of insolvency proceedings.

Disclaimer: If an economy had zero insolvency cases a year over the past five years involving a judicial reorganization, judicial liquidation or debt enforcement procedure (foreclosure or receivership), the economy receives a “no practice” mark on the time, cost and outcome indicators. This means that creditors are unlikely to recover their money through a formal legal process. The recovery rate for “no practice” economies is zero.

Time (years)

Cost (% of estate), outcome (0 as piecemeal sale and 1 as going concern).

Recovery by creditors depends on whether the hotel business emerges from the proceedings as a going concern or the company’s assets are sold piecemeal.

Disclaimer: If an economy had zero insolvency cases a year over the past five years involving a judicial reorganization, judicial liquidation or debt enforcement procedure (foreclosure or receivership), the economy receives a “no practice” mark on the time, cost and outcome indicators.

Strength of insolvency framework index (0-16)

The index is the sum of four component indices: commencement of proceedings index, management of debtor’s assets index, reorganization proceedings index and creditor participation index.

Disclaimer: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice.”

Note:  Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice.”

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• Projects & Operations

Changing the Development Paradigm in Moldova

Technology education lesson in a school in Chisinau 

World Bank Moldova

Towards better productivity, private sector-led growth and improved services for citizens and firms.

Among the poorest countries in Europe, Moldova has made significant progress in reducing poverty and promoting inclusive growth since the early 2000s. Policy reforms have deepened the path toward European integration, but many reforms that look good on paper have yet to be effectively implemented. A vulnerable political system, a polarized society, an adverse external environment, a skills mismatch in the labor market, and climate-related shocks are some of Moldova’s biggest economic challenges. Business confidence is low due to issues around transparency, accountability, and corruption, and the macroeconomic framework remains vulnerable. Large-scale out-migration, combined with decreasing fertility rates, has led to an alarming decline in the population and an increased share of elderly people, putting pressure on the pension system and limiting long-term competitiveness.

The partnership between Moldova and the World Bank Group (WBG) laid out in the Country Partnership Framework for 2018–21 supports Moldova’s transition to a new, more sustainable and inclusive development and growth model. The key goals are to improve the governance and quality of public services, enhance the business environment for private sector development and firm productivity, support the transformation of the energy and agriculture sectors, build the country’s crisis preparedness and early response system, and support human capital development and inclusive education.

Jobs and Economic Transformation

The WBG is working to enhance the business environment, foster private sector development, increase the productivity of firms, and create decent jobs in Moldova.

Improving the business environment by reducing red tape and decreasing regulatory burdens is critical if private sector firms are to grow and create jobs. Between 2015 and 2019, key achievements included a reduction in the number of permitting documents from over 420 to 150 and inspection bodies from 58 to 18, and the creation of an online one-stop shop to secure permits. Today, businesses can obtain the 80 most burdensome business permits online, which has been particularly important during the COVID-19 restrictions. The 2019 Cost of Doing Business survey shows the significant impact of these reforms: the number of days to register a company has decreased from 14 in 2010 to four in 2019, and unofficial payments for licenses and permits have declined as have the costs of obtaining permits. These reforms have created massive savings for businesses, estimated at over US$17 million annually, through reduced compliance time, less interaction with government, and an improved business environment. 

To boost the micro, small, and medium enterprise (MSME) sector, which represents 97 percent of all businesses in Moldova, Bank-supported initiatives have focused on opening up new markets, promoting market links, and helping MSMEs access infrastructure, inputs, and business advice. This has included credit lines to exporters to create jobs and access new markets and matching grants for international quality certification, production upgrades, and business development. On the institutional side, critical steps have been made in preparing Moldova to be accepted by the European Union (EU) as an exporter country for specific products and in liberalizing the import of EU-registered fertilizers and seeds. One example of the impact of these initiatives is that each US$1 granted to beneficiaries for business advice has generated on average US$9 in new export sales. Since 2016, more than 1,200 jobs have been created in the export sector. In agriculture, over 1,000 business start-ups have been launched since 2003, helping create more than 5,600 new jobs, anchored in the Bank’s long-standing engagement in the sector. Between 2013 and 2020, farmers receiving grants and just-in-time business advice established more than 45,000 tons of post-harvesting capacity, and 32 productive alliances are now selling and exporting fresh produce at premium prices.

Service Governance and Digitization

Limited access, inefficiency, and the poor quality of public services in Moldova have contributed to social exclusion, persistent poverty, and vulnerability to shocks, especially in rural areas. The Bank has supported several interventions aimed at enhancing the efficiency of, and access to, key public services, including through the digitization of service provision. 

The country’s digital transformation started in 2010 with a comprehensive program of public administration technological modernization supported by the Bank. This partnership established the e-Governance Agency as an institution driving digitization, introduced the legal and regulatory framework for the digitization of public services, and created a robust, world-class ICT infrastructure for enhanced service delivery built on open governance principles. Several platforms, including MCloud, MConnect, MPay, MSign, and MPass, are now operational, and key public services are being re-engineered and digitized, resulting in increased citizen confidence in online services—the adoption index for electronic services developed with Bank support was over 75 percent in 2019. Digital services have been even more critical since the outbreak of the COVID pandemic, enabling uninterrupted access to key services for businesses and citizens.

Today, MConnect, which was launched in 2014 and is the government’s interoperability platform and the backbone of further public service modernization, allows multiple data exchange scenarios among the 53 connected public entities. In the first half of 2020 alone, more than 15 million data exchange transactions successfully took place using MConnect, averaging 500 transactions per day. Without MConnect, data exchanges would still have to rely on paper-based documents that require much more time and expense. Further, 76 public and private sector information systems have been integrated with the digital signature platform MSign, which was launched in 2013 with upgrades in 2019, enabling more than 1 million signatures per month. Citizens, businesses, and public sector employees can now use a digital signature to apply online for services, submit reports, and sign contracts and financial documents. Over 18 million transparent financial transactions took place through the government’s payment platform MPay between its launch in 2013 and the first half of 2020, totaling more than MDL 10 billion and averaging 7,000 transactions per day for more than 500 services. People and businesses no longer have to wait in line as they can pay their bills and public services from their homes and offices. In June 2020, MPay registered the highest number of transactions since its launching: more than 700,000. Some state institutions have completely eliminated paper in their service provision. Most digital public services can be paid today with any payment means available in the country, such as bank cards, online banking, electronic money, and cash. Costs for the collection of fees for public services decreased by almost six times, from about MDL 23 million in 2013 to about MDL 4 million in 2019.

Energy Sector Transformation

Moldova’s dependence on energy imports exposes it to energy security risks. Since the early 2000s, with the Bank’s support, Moldova has significantly reformed its energy sector to allow for cost-reflective pricing, independent regulation, and the promotion of efficient operations and investments. The Bank has supported rules-based and competitive electricity trading by introducing Romania as a new supply source and supporting private sector participation in electricity distribution.  

The Bank has also worked closely with the capital city Chisinau to modernize its District Heating (DH), thus improving the reliability and quality of DH services for end consumers and contributing to the improved operational efficiency and financial viability of Chisinau’s DH company, Termoelectrica. Between 2015 and 2020, through the installation of individual heat substations (306 in residential buildings and 181 in public, administrative, and social buildings), more than 45,000 residents and almost 80,000 public employees benefited from an improved heating and hot water supply at affordable prices. In the same period, 32 public institutions were reconnected to the DH system and began to use DH services, increasing Termoelectrica’s heat sales by 24,766 GCal/season and generating an additional US$1.7 million in revenues per heating season. The transformation of Termoelectrica into a viable company sets a good example for reforming other state-owned enterprises in Moldova. 

Crisis Response and the Resilience of the Health and Social Sectors

The Bank has maintained long-term engagement to support transformation, modernization, and efficiency gains in Moldova’s health and social sectors. The quality and efficiency of the hospital sector has been enhanced since 2015 through a reduction in the number of acute care beds in public hospitals to fewer than 10,000 from more than 12,000 originally and a shorter average length of stay for these beds from 7.6 to 6.6 days. A Hospital Performance Report Card was developed for 55 public hospitals and performance results were made available to the public online, promoting transparency and creating an environment conducive to effective public participation in health. The Bank has also supported enhancements to Moldova’s main means-tested social assistance program Ajutor Social . This included the integration of support previously provided on a categorical basis and the expansion of the program through a combination of policy changes and investments in capacity, while strengthening error and fraud detection systems.

Past and ongoing lending and advisory engagements allowed the Bank to mobilize a robust emergency COVID-19 response in 2020 and provide medical relief and social support to the most vulnerable, while enhancing the health system’s response to the coronavirus outbreak, all in record time. As part of the Bank-supported emergency response, the Ajutor Social program provided much-needed cash transfers to about 72,000 poor households. During the emergency period, program coverage has increased from 4 percent at the beginning of the year to almost 5 percent today. At the same time, the benefit size for families with a significant depth of poverty (i.e., families with many children) was permanently strengthened, thus increasing it by 85 percent on average. The pandemic emergency project has also provided immediate support to strengthening the technical capacity of health facilities to detect and handle COVID-19 cases while minimizing the risk of infection for health care staff. The Bank has facilitated the purchase of various personal protective equipment, lab reagents for COVID diagnosis, vehicles for sample transportation, and testing kits, lab supplies, and medical devices for COVID diagnosis, as well as equipment for intensive care unit beds and pulse oximetry units or sensors.

Human Capital and Inclusive Education

In Moldova, a child born today can expect to achieve only 58 percent of the productivity of a fully educated adult in optimal health. This is a slight improvement from 56 percent a decade ago, driven, to a large extent, by advancements in the education sector. Bank-supported interventions aim to provide solutions for challenges in education quality, relevance, and efficiency and to prioritize access to quality education for disadvantaged groups, namely children with disabilities.

Between 2015 and 2018, 20 hub-schools across Moldova were renovated and supplied with furniture, learning aids, and software to accommodate the diverse needs of children with disabilities and to facilitate their learning, which enabled the integration of over 200 students with disabilities and/or special needs into mainstream schools. These efforts were complemented by the development of three on-the-job training modules in inclusive, child-centered education for teachers. One hundred schools were supplied with equipment and learning materials for students with disabilities and/or special needs. In addition, during 2015–20, 12 mainstream hub-schools were renovated in line with new quality standards and are now offering better quality and learning conditions to more than 6,000 students. The training of more than 2,700 staff of the National Agency for Quality Assurance in Education and 600 primary teachers in the same period has consolidated the quality gains.

Tools to enhance social accountability interventions are being applied in 100 beneficiary schools, creating opportunities for students and parents to contribute to improved decision making for their schools. An online interactive platform launched in 2014 includes the profiles of 1,275 education institutions across the country, with detailed information on individual school performance and interactive maps that allow a comparison with the average performance by district/municipality and at the national level to inform decision making.

Climate Adaptation and Resilience

The Bank supported important climate adaptation measures between 2015 and 2019, for example, by expanding the use of sustainable landscape management practices on close to 57,000 hectares. The renovation of selected schools in the same period led to a 40 percent reduction in school energy consumption. Construction of a new DH pumping station in the capital city, accompanied by the modernization of three other large pumping stations and rehabilitation of 14.4 km of pipelines between 2015 and 2010, is estimated to have reduced CO 2 emissions by 8,200 tons/year.

During 2018–19, Bank-funded advisory work supported the development of the National Climate Services Framework and internationally compatible urban rescue standards and methodology, which are ready to be operationalized and adopted by the authorities. The work of the International Finance Corporation (IFC) also had a climate dimension: by developing sustainable agribusiness value chains, IFC increased downstream value-added and reduced commercial vulnerability to climate events. The Bank continues to support climate services through advisory projects that assist hydro meteorological services in the improved production, delivery, and effective use of hydro meteorological and climate-related information.

Bank Group Contribution

Between 2018 and 2020, the Bank delivered lending projects totaling US$332.3 million (of which, US$227.3 million were from the International Development Association or IDA), including the Emergency COVID-19 Response Project. The Bank’s policy engagements during this period helped reduce fiscal risks by reforming the pension system, mobilized more revenue by raising tax rates on tobacco, pre-empted potential conflicts of interest of high-level public officials, made the financial information of state-owned enterprises and municipal enterprises more reliable, and supported the adoption of a new bank governance framework. A solid advisory services and analytics program of 33 activities was also delivered, including a flagship Country Economic Memorandum on Growth Drivers Policy Note for the incoming government, a series of energy sector reviews, a water sector diagnostic, financial sector advice, and skills and social assistance/social protection work.

These have helped to maintain the policy dialogue, advocated for important structural reforms, and shaped the pipeline. IFC’s committed portfolio is US$5.4 million, and investments have spanned agribusiness, manufacturing, and infrastructure (municipal and telecommunications). IFC has mainly focused on the implementation of the Investment Climate Reform Project, conducted jointly with the Bank, an excellent example of the strong collaboration between IFC and the Bank that has been instrumental in improving the business enabling environment since 2016, as described above. The Multilateral Investment Guarantee Agency has one operation, with an outstanding exposure of US$20 million in support of Moldova’s fragile financial system. 

The WBG has engaged in joint advocacy with the International Monetary Fund (IMF), EU, United States, and other development partners on critical issues, such as the 2018 tax and capital amnesty package that averted the risk of illicit financial flows from entering the Moldovan financial system and undermining anti-corruption efforts. This collaboration has been equally crucial to the effective mobilization of an emergency response in the wake of the COVID-19 crisis.

The Bank continues to work closely with the IMF on the macro, fiscal, and social dimensions, and with the United Nations and the World Health Organization on the mobilization of emergency health and social support. Swiss-funded technical assistance on health system financing, governance, and service delivery is amplifying health sector modernization efforts.

In the power sector, alongside the EU, the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank, the Bank is financing Moldova’s power system interconnection with that of Romania, while Swedish-funded advice on DH optimization and gas supply options underpins the Bank’s DH engagements.

The EU-funded Eastern Partnership-Forest Program provides advice and technical assistance on environmental protection, sustainable production and trade in forest products, and sustainable financing for the sector. In partnership with the Global Partnership for Social Accountability, the Bank has supported social accountability and participatory decision making in health and education.

Other partnership examples include the United Kingdom’s Good Governance Fund–supported work on the governance of state-owned enterprises and the governance reform scorecard; EU-supported regional initiatives on road safety, the financial sector, and ICT; a Policy and Human Resources Development Grant from the Japanese government for inclusive education; and Swiss support to social protection and skills.

The WBG is building platforms to support country-level outcomes, such as the Economic Council supported by IFC with Swedish financing. The Council, which also benefits from EBRD and UK support, brings under its umbrella Moldova’s main business associations and serves as a bridge between the public and private sectors. The removal of several regulatory barriers supported by the Council has already helped facilitate new investments of at least US$80 million, with more in the pipeline. This platform is currently being used to address the impact of the COVID-19 pandemic on businesses and to help develop policies to support them through the crisis.

Moving Forward      

To assist Moldova in responding to urgent COVID-19-related needs, Moldova was provided with exceptional access to US$63.2 million in concessional IDA lending. IBRD financing will be used to enable post-crisis restructuring, strengthen resilience to future emergencies, and address immediate developmental and social needs.

The Bank is reassessing options for repurposing the ongoing portfolio to respond to COVID-19, including in education and health, the provision/digitization of public services, and support of revenue mobilization efforts. Moreover, depending on the severity of the crisis and the magnitude of its macro, fiscal, and social impacts, the Bank will explore options for the renewal of budget support, depending primarily upon reform commitment, and for pipeline prioritization, which may focus on targeted support to small businesses and farmers, water security and sanitation to improve access to critical services in small towns outside the capital city, and possible engagement on disaster and risk management.

Beneficiaries

Competitiveness Enhancement II Project

“I recommend that all who consider developing their business treat each stage seriously. I know that there are no general rules that would lead you to success, but my recipe consists of innovation, a lot of work, plus partners that offer their shoulders when needed, and one of those partners is the Competitiveness Enhancement II Project!”

Moldova Education Reform Project

“Now the school looks nicer and is warm, so I can focus better on learning.”

“We managed to absorb the financial resources allocated by the Ministry of Education under the Moldova Education Reform Project, so we were able to manage the COVID-19 crisis. In our high school all subjects are taught remotely, even sports. Every day, the teacher coordinates with the students the exercises they have to do to maintain a healthy living in isolation.” 

• Video: Competitiveness Enhancement Project II
• Video: Moldova Agriculture Competitiveness Project
• Blog: The Distance Between Skills and Jobs in Moldova
• Blog: Investing in Young Radu is Investing in Moldova’s Future
• Blog: Better Weather Forecasting and Warnings Save Lives and Property – Insights from Moldova
• World Bank Office in Moldova
• Facebook Page of World Bank Moldova
• Government of Moldova
• Ministry of Finance of Moldova

40 Best Business Ideas and Investment Opportunities In Moldova [2024]

Interested in starting a business in Moldova in 2024?

We put together 40 of the best businesses you can start in Moldova today.

In this list of ideas, you can find:

• Home-based businesses to start in Moldova
• Profitable online business ideas
• Unique business opportunities for Moldova
• Low investment business ideas (under $5k to start)
• Easy businesses you can start in Moldova today

For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Moldova.

Here's the full list:

1. Start a mobile photography business

Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.

There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!

To start mobile photography in Moldova, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.

How much you can make: $2,000 — $500,000/month

How much does it cost to start: $5,000 (?)

How long does it take to build: 200 days (?)

Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.

2. Start a digital marketing business

Digital marketing businesses serve local and international companies to expand their reach and grow revenue. A top reason digital marketing is so exciting is that the field is constantly evolving and is easy to learn.

If you plan to start a digital marketing business in Moldova, educate yourself and understand how digital marketing agencies work. Then, focus on building your digital skills and advancing your career through online digital marketing courses.

To stand out, find a digital marketing niche and focus on the audience interested in your services.

How much you can make: $2,000 — $6,660,000/month

How much does it cost to start: $1,260 (?)

How long does it take to build: 58 days (?)

H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.

3. Start a web design & online marketing business

If you know about website design and marketing concepts then starting your own web design and online marketing business could be the perfect opportunity for you to do so.

The online marketing industry is the second largest industry in the United States and continues to grow. The online marketing industry is massive. It is estimated to grow by 30% annually, reaching $400B in the next four years.

How much you can make: $6,000 — $800,000/month

How Shannon Mattern built a DIY web design training business from scratch that now generates $10k/month in revenue through affiliate commissions and courses, without outside investment or debt.

4. Start a podcast

The podcast business involves creating and producing audio content that people can listen to online.

It’s a popular form of entertainment and information-sharing.

To start a podcast business on a budget, you'll need a few key steps.

First, choose a niche or topic that you're passionate about and that has an audience.

Next, get basic recording equipment like a microphone and headphones.

Then, find a free or affordable hosting platform to publish your episodes.

Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.

How much you can make: $400 — $1,020,000/month

How much does it cost to start: $2,000 (?)

How long does it take to build: 60 days (?)

Time commitment per week: Min. 2 hours/week

A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.

5. Start an affiliate marketing business

Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.

To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.

How much you can make: $500 — $773,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 55 days (?)

Bar Games 101 is an authority website about classic bar games with over 200K monthly visitors and revenue over $4,000 for the month of August, achieved through consistent publishing of researched articles and outsourcing by the founder.

6. Start an online advertising agency

An online advertising agency helps businesses promote their products or services on the internet.

To start this business on a budget, first learn the basics of digital marketing through free online resources.

Create a professional website and set up profiles on social media platforms to showcase your skills.

Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.

With dedication, you can grow your agency over time.

How much you can make: $2,797 — $1,250,000/month

How much does it cost to start: $2,500 (?)

How long does it take to build: 45 days (?)

Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.

7. Start a SEO agency

An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.

SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.

It’s easier than ever to start your SEO agency in Moldova. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.

How much you can make: $1,000 — $1,800,000/month

How much does it cost to start: $1,000 (?)

Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year.

8. Start a dropshipping business

Dropshipping is a business model where you sell products to customers without holding inventory.

Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.

To start a dropshipping business on a budget, choose a niche or category of products you want to sell.

Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.

Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.

How much you can make: $6,000 — $3,000,000/month

How much does it cost to start: $6,000 (?)

How long does it take to build: 90 days (?)

Time commitment per week: Min. 10 hours/week

Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.

9. Become a software developer

A software developer is a person who creates computer programs. They design, test, and oversee the creation of software for a variety of purposes including businesses, personal use, or social networking.

If you have strong technical skills and experience in programming, you can start a software development business. You should also have a good understanding of how the software works.

The average salary for software developers is $110,140 . The best-paid 25 percent earn an annual income of up to 140K dollars while the lowest-paid workers make just under 84K dollars.

The recent trends in software development are moving towards mobile apps and cloud-based solutions. Businesses are providing a variety of programming languages and tools to create software that meets the client's needs.

Starting a software development company is the perfect way to explore in this exciting industry. This type of business is growing in popularity as businesses are looking for ways to offer their customers a convenient way to access their data and applications.

How much you can make: $1,700 — $465,583,333/month

How long does it take to build: 180 days (?)

SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.

10. Start a language translation service

Language translation services bridge the linguistic barriers, helping businesses reach a wider audience outside of a single language. A language translation job is an opportunity to cover a wide range of topics and meet people from different cultures.

To become a language translator in Moldova, master a second language and earn some experience so you become fluent in the second language.

How much you can make: $40,000 — $550,000/month

How long does it take to build: 70 days (?)

DEMAN Translations grew from 6 employees and 1.5 million euros in turnover in 2015 to 17 team members and 3.5 million euros in sales in 2020 after acquiring 12 other translation agencies, with a goal to reach 6 million euros this year and 10 million euros in 2022.

11. Become a mobile personal trainer

Do you love helping people through their fitness journey? If you want a great side hustle to earn extra income, consider becoming a personal trainer.

The fitness trainer side hustle can be an adamant industry to earn good money. However, once you develop a reputation as a good trainer, you can get more clients through referrals. You need to register for the certification course to start offering personal trainer services in Moldova.

To attract your first clients, consider online advertising, and seek referrals from every customer.

How much you can make: $600 — $8,333,333/month

How long does it take to build: 532 days (?)

Time commitment per week: Min. 4 hours/week

Live Fit, a personal training company founded in 2011, grew from earning $80,000 in their first year with two trainers to earning over $760,000 in 2019 with 12 trainers and two locations, thanks to a focus on building trusting relationships and providing a variety of services to clients.

12. Start an online video editing business

Video editors manage camera footage, dialogue, sound effects, graphics, and special effects to produce the final film or video product. To become an online video editor, you must have media production and communication knowledge and the ability to work with others.

To start a video editing business, you can outsource video editing skills from an experienced professional. Your role will be to pick video footage from the customers and upload them for the video editor to do the magic.

How much you can make: $2,000 — $208,000/month

How long does it take to build: 110 days (?)

VEED.IO, a London-based start-up co-founded by Sabba and her partner, offers a simple online video editing platform using batch job cloud architecture to help social media managers across the world auto subtitle, filter, rotate videos and much more, earning the company $5,300 MRR and the founders Ramen profitability within just a year of starting.

13. Start a voice over service

Voiceover artist is an auditory performer who uses their voice in scripted presentations. The role of a voiceover artist is only to be heard but not to be seen.

Working as a voiceover artist is an opportunity to choose the projects you enjoy engaging in. The role of a voiceover artist is also fun and can help you meet new people.

To become a voiceover artist in Moldova, start practicing aloud reading so you familiarize yourself with your sound. Then, create your recording studio where you can practice your voiceover skills. It would help if you had a quality microphone, professional recording software, a computer, and soundproofing materials.

How much you can make: $400 — $60,000/month

Voice Crafters, a multilingual voice-over agency and marketplace founded by Mony Raanan, doubled their revenue to over $765,000 in 2022 with a bottom line of around 30% after transitioning to an online marketplace and carefully vetting their network of over 1,000 professional voice actors in more than 80 languages.

14. Start a blog

In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:

• Blogs have been rated as the 5th most trustworthy source of gathering online information.
• 77% of internet users read blogs.
• Each month, approximately 409 million people view more than 20 billion pages.

Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.

If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.

How much you can make: $200 — $160,000/month

How long does it take to build: 37 days (?)

Time commitment per week: Min. 5 hours/week

Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.

15. Start a travel agency

Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.

As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.

Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.

To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.

How much you can make: $2,000 — $114,200,000/month

Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.

16. Start a travel agency

17. Become a proofreader

Proofreading business is a service that helps customers review their written work and ensure it is ready for publication. Typically, a proofreader corrects grammatical errors and provides the written piece meets any relevant style guide.

As a proofreader, you can work online, allowing you to choose what time to work.

If you plan to start a professional proofreading business in Moldova, make sure you possess the following skills:

• Have an excellent grasp of grammar
• Ability to correct mistakenly capitalized words
• Familiarity with the proper use of capitalization
• Use spell-checkers to flag misspelled words

Proofreading is a great way to enhance content quality. With the increased use of written content marketing to reach a broader market, the demand for professional proofreaders has grown tremendously. Professional proofreaders earn an average of $12/hr. And $30/hr.

Therefore, consider proofreading as a business if you are looking for a great side hustle idea or simply looking for ways to increase your income.

How much you can make: $2,000/month

A proofreader was able to build a consistent income of ~$2,000 per month from scratch with zero experience in the field, no expenses, and barely any upfront costs by targeting bloggers and content creators who want their content to be copy edited and proofread.

18. Start a content writing company

Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.

Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.

Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.

To start a content writing company in Moldova, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.

How much you can make: $1,000 — $250,000/month

How much does it cost to start: $600 (?)

How long does it take to build: 30 days (?)

Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.

19. Create an online course

An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.

As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.

With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.

For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.

How much you can make: $350 — $3,735,000/month

How much does it cost to start: $1,700 (?)

20. Start a niche web design business

Niche web design business focuses on a specialized market such as law, home improvement, videography, fashion, etc. typically, when a web designer niches down their services, they are simply choosing to concentrate on one industry and create websites for businesses within the particular niche. To become a niche web designer, consider honing the following skills and personal qualities:

• Visual design, HTML, CSS, JavaScript
• Strong communication skills
• Analytical thinking and problem-solving skills
• Teamwork and research skills
• Attention to detail

Narrowing your focus to a particular niche gives you a higher chance of becoming a recognized expert and places you in a better position to charge more for your services.

How much you can make: $200 — $200,000/month

How long does it take to build: 40 days (?)

The Locksmith Agency, run by Samuel Wilson, a licensed locksmith with over 10 years of digital marketing experience, is making $30k+ per month by providing digital marketing services such as Website Development, SEO, and Google Listing optimization services specifically for the locksmith industry.

21. Become a property manager

A property manager is responsible for the day-to-day operations of a property. This can include tasks such as marketing and leasing units, collecting rent, and maintaining the property.

To succeed in this business, you’ll need to have strong people skills and be comfortable working with various clients. You’ll also need to be organized and detail-oriented. If you have these skills, starting your own property management business can be a great way to make money in the real estate industry.

The average property manager's salary in the United States is $54,183/year. The low-end range falls between 36k at 12% below to 79K+, which represents 24%.

With the recent craze of people wanting to invest in real estate, property management has never been more popular than now. Property managers often have the opportunity to work from home, making it an excellent option for those who want the flexibility of being their own boss.

The property management business is a great way to make money if you’re familiar with the real estate market and have strong people skills. You can make a lot of money by managing properties for investors.

How much you can make: $200,000/month

How long does it take to build: 362 days (?)

Casa Mia Coliving, a sustainable and modern co-living and property management company in Singapore offering affordable accommodation, has an annualized revenue of $2.5M with 150 bedrooms across popular neighborhoods, attracting young professionals and boasting a 10x LTV/CAC ratio, all while focusing on unit economics and profitable growth.

22. Start a B2B sales app

A B2B sales app is software used by sales professionals to manage leads, create orders, generate quotes and close deals.

According to statistics, 72% of B2B buyers highly value the convenience of self-service access to accounts and orders.

A B2B sales app may have features such as an automated lead generation system, a lead scoring system, and automated follow-ups, to help the sales professionals improve sales performance by speeding up the ordering process. Another feature may be the ability to give customers access to the salespersons' product catalog so that they can self-order conveniently.

If you're thinking about starting a B2B sales app, start by validating the idea by reaching out to sales professionals for recommendations, and check to see what they say about particular solutions they might already be using.

How much you can make: $1,000 — $666,667/month

How much does it cost to start: $100 (?)

Findymail founder Valentin Wallyn shares how he went from being a teenage gamer creating digital currency to building successful SaaS businesses, with his latest venture reaching $2,500 in monthly recurring revenue just months after launching.

23. Start a freelancer platform

Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.

The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025 . While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.

With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.

How much you can make: $3,000 — $5,000,000/month

How long does it take to build: 80 days (?)

CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.

24. Start a digital agency

A digital agency’s task is to make a business reach its advertising, marketing, or technology-related goals. Anyone with enough knowledge and passion for digital marketing can start and run a profitable digital marketing agency. With the proper skill set, the right tools, and the right mindset, you can start a successful digital agency.

The global digital agency market reached a value of nearly $305B in 2020 . The future growth prospects of the digital agency market are projected to be high due to the rising population of people consuming and creating content through digital channels.

How much you can make: $4,000 — $43,700,000/month

Power Move Marketing is an innovative digital marketing company founded by Hailey Brooke McFadden, which has achieved an impressive monthly income of $22,075 and is projected to make almost $300,000 in its first year, by offering a one-stop-shop for e-commerce businesses looking for a marketing powerhouse with a female positive culture.

25. Start a swimming pool rental business

Starting a swimming pool rental business can be an exciting and rewarding experience. Pool owners are looking to rent their pools out during the off-season to recoup some of their costs.

Landlords or condo owners may want to earn an additional revenue stream from the swimming pool property they own. The swimming Pool Market size was valued at $3B in 2019 and is projected to reach $3.6B by 2027. The presence of developed infrastructure and the thriving wellness tourism industry will facilitate the swimming pool market growth.

How much you can make: $8,333/month

26. Become a virtual assistant

Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.

Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants in Moldova have a dedicated home office where they work in a quiet and distraction-free environment.

To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.

How much you can make: $1,000 — $1,000,000/month

Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.

27. Start a mobile app development business

Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.

Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.

To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps

How much you can make: $7,500 — $2,333,333/month

How much does it cost to start: $7,500 (?)

How long does it take to build: 120 days (?)

"We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps."

28. Start a resume writing service

A resume writing service offers professional assistance in crafting compelling resumes for job seekers.

With this service, your day-to-day activities revolve around collaborating with clients to gather their employment history, skills, and achievements, and transforming that information into well-crafted resumes that highlight their qualifications.

How much you can make: $2,000 — $42,857/month

How much does it cost to start: $35 (?)

Time commitment per week: Min. 8 hours/week

Recruiter Written, a resume and LinkedIn profile writing service founded by Alex Benjamin, successfully launched with a startup cost of $600 and has since generated an average gross profit of around $1940 per month primarily through referrals, and plans to expand to downloadable PDF Resume and LinkedIn Profile Writing guides.

29. Start an email marketing business

Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.

With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.

An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.

To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.

To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.

How much you can make: $1,500 — $8,333,333/month

Boundless Labs is an email marketing agency for eCommerce brands that has generated over $25 million in email attributable revenue for their clients since launching 18 months ago and currently makes around $90K per month, with plans to reach $100K per month by the end of January 2020 through client referrals, strong relationships, and hard work.

30. Start a fresh farm produce business

The fresh farm produces business is a fast-growing one. Starting a fresh farm produce business can be an exciting and profitable adventure if you are prepared. Everyone loves fresh food. Healthy foods are never out of fashion.

Listed are the steps to start a fresh farm produce business.

• Plan your business
• Secure permits and licenses needed
• Get financed
• Hire staffs
• Find a client and promote your business

How much you can make: $50,000/month

31. Start a stock video business

Stock video is pre-filmed footage that can be purchased and used in various projects and films. Like stock photos, copyrighted stock videos cannot be used without permission and licensing from the rightful owner.

Businesses and filmmakers use licensed stock footage as they save money and hours, they would need to create original footage. Starting a stock video suitable for use in commercials and entertainment can be a great venture.

How much you can make: $10,000/month

How long does it take to build: 197 days (?)

VideoPlasty, an affordable and easy-to-use platform for buying pre-made stock animation elements and GIF images, has attracted over 600,000 visitors since its launch, with over $100k in revenue in 2020 alone, thanks to free organic traffic from YouTube tutorials and optimized SEO.

32. Start a social media management business

Similar to virtual assistants, social media managers offer various services, including but not limited to:

• Developing a marketing strategy based on clients’ goals
• Setting up social media accounts
• Posting on behalf of their clients
• Coming up with strategies for increasing client’s social media following
• Marketing analysis.

To become a social media manager, know the various platforms and understand how they work so you can develop strategies that help clients reach their goals.

The beauty of working as a social media manager is that you can define your work schedule and choose what niches to work on.

How much you can make: $20,000 — $166,667/month

How much does it cost to start: $251 (?)

How long does it take to build: 3 days (?)

A social media manager turned entrepreneur created a program that has brought in almost $100,000 in one year, designed to teach women how to run successful social media businesses in less than 30 days.  

33. Start a restaurant

If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.

To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.

If you plan to open a restaurant in Moldova, gain insight from consumer preferences and focus on serving modern consumers what they need.

How much you can make: $48,333 — $61,650,000/month

One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.

34. Start a youtube channel

For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.

In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.

If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.

How much you can make: $800 — $4,500,000/month

How long does it take to build: 48 days (?)

Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.

35. Start a business incubator

The popularity of incubators is on the rise. Today, start-ups and small businesses have unique needs because they have limited resources and often need professional help to get started. You can design your business incubator by leveraging your experiences as an entrepreneur.

Listed are the steps to start an incubator business.

• Secure all needed permits and licenses
• Hire needed staffs
• Promote your business

How much you can make: $6,800/month

Hutch, founded by Fearless, is a 24-month program that helps minority and women entrepreneurs in government digital services; the program has had 9 graduates, 11 company founders in current two cohorts, and 20 companies within its portfolio.

36. Start a real estate appraisal service

Starting a real estate appraisal service is a great way to get involved in the industry without having to buy or sell property. As a real estate appraiser, you'll be responsible for estimating the value of properties. This can involve anything from single-family homes to commercial buildings.

To be successful, you'll need to have a strong understanding of the real estate market and the factors that affect property values. You'll also need to be licensed in your state. But, if you're up for the challenge, starting a real estate appraisal business can be a great way to make money in the industry.

Licensed appraisers can make between $40,000 and 100K. They can work for an appraisal management company (AMC), lending institution or government agency. Salary starts at about 40k with top end reaching up to 120 K depending on experience.

Starting a real estate appraisal business offers a niche opportunity that can be very profitable. Appraisers can often work from home, making it a great option for those who want the flexibility of being their own boss.

With the increase in transactions, there is a need for appraisers to accurately value properties. If you have the skills and experience, starting your own appraisal business can be a great way to make money in the real estate industry.

It 's important to note that, while there is a demand for appraisers, the industry is highly regulated. You'll need to be licensed and have the proper credentials to operate your business.

37. Start a restaurant

38. Start an online retail store

Starting an online retail store is straightforward. All you need is a computer, a domain, and a web hosting service. Then, determine a niche for your online store, and conduct product research before listing products.

You can start your online store based on a drop shipping business model or list your self-made products in your online store.

How much you can make: $5,000 — $62,500,000/month

How long does it take to build: 51 days (?)

This case study follows the story of a successful online business that has made 7.2 million dollars in sales since 2012, with profits of around 30-45%, and the founders share insights on lessons learned and tools used.

39. Start a grocery store

A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.

To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.

A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.

Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.

Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.

40. Start a hotels business

If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.

Here are some tips to consider before forming a hotel:

• Name your business
• Decide on a marketing strategy
• Start by renting out a room in your home.
• Hire a business capital broker
• Make a marketing plan
• Offer complementary services

How much you can make: $15,000/month

How long does it take to build: 325 days (?)

SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.

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France's Orano studying plan to build U.S. uranium enrichment plant

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Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.

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New York Takes Crucial Step Toward Making Congestion Pricing a Reality

The board of the Metropolitan Transportation Authority voted to approve a new $15 toll to drive into Manhattan. The plan still faces challenges from six lawsuits before it can begin in June.

By Winnie Hu and Ana Ley

New York City completed a crucial final step on Wednesday in a decades-long effort to become the first American city to roll out a comprehensive congestion pricing program, one that aims to push motorists out of their cars and onto mass transit by charging new tolls to drive into Midtown and Lower Manhattan.

The program could start as early as mid-June after the board of the Metropolitan Transportation Authority, the state agency that will install and manage the program, voted 11-to-1 to approve the final tolling rates, which will charge most passenger cars $15 a day to enter at 60th Street and below in Manhattan. The program is expected to reduce traffic and raise $1 billion annually for public transit improvements.

It was a historic moment for New York’s leaders and transportation advocates after decades of failed attempts to advance congestion pricing even as other gridlocked cities around the world, including London, Stockholm and Singapore, proved that similar programs could reduce traffic and pollution.

While other American cities have introduced related concepts by establishing toll roads or closing streets to traffic, the plan in New York is unmatched in ambition and scale.

Congestion pricing is expected to reduce the number of vehicles that enter Lower Manhattan by about 17 percent, according to a November study by an advisory committee reporting to the M.T.A. The report also said that the total number of miles driven in 28 counties across the region would be reduced.

“This was the right thing to do,” Janno Lieber, the authority’s chairman and chief executive, said after the vote. “New York has more traffic than any place in the United States, and now we’re doing something about it.”

Congestion pricing has long been a hard sell in New York, where many people commute by car from the boroughs outside of Manhattan and the suburbs, in part because some of them do not have access to public transit.

New York State legislators finally approved congestion pricing in 2019 after Gov. Andrew M. Cuomo helped push it through. A series of recent breakdowns in the city’s subway system had underscored the need for billions of dollars to update its aging infrastructure.

It has taken another five years to reach the starting line. Before the tolling program can begin, it must be reviewed by the Federal Highway Administration, which is expected to approve it.

Congestion pricing also faces legal challenges from six lawsuits that have been brought by elected officials and residents from across the New York region. Opponents have increasingly mobilized against the program in recent months, citing the cost of the tolls and the potential environmental effects from shifting traffic and pollution to other areas as drivers avoid the tolls.

A court hearing is scheduled for April 3 and 4 on a lawsuit brought by the State of New Jersey, which is seen as the most serious legal challenge. The mayor of Fort Lee, N.J., Mark J. Sokolich, has filed a related lawsuit.

Four more lawsuits have been brought in New York: by Ed Day, the Rockland County executive; by Vito Fossella, the Staten Island borough president, and the United Federation of Teachers; and by two separate groups of city residents.

Amid the litigation, M.T.A. officials have suspended some capital construction projects that were to be paid for by the program, and they said at a committee meeting on Monday that crucial work to modernize subway signals on the A and C lines had been delayed.

Nearly all the toll readers have been installed, and will automatically charge drivers for entering the designated congestion zone at 60th Street or below. There is no toll for leaving the zone or driving around in it. Through traffic on Franklin D. Roosevelt Drive and the West Side Highway will not be tolled.

Under the final tolling structure, which was based on recommendations by the advisory panel, most passenger vehicles will be charged $15 a day from 5 a.m. to 9 p.m. on weekdays, and from 9 a.m. to 9 p.m. on weekends. The toll will be $24 for small trucks and charter buses, and will rise to $36 for large trucks and tour buses. It will be $7.50 for motorcycles.

Those tolls will be discounted by 75 percent at night, dropping the cost for a passenger vehicle to $3.75.

Fares will go up by $1.25 for taxis and black car services, and by $2.50 for Uber and Lyft. Passengers will be responsible for paying the new fees, and they will be added to every ride that begins, ends or occurs within the congestion zone. There will be no nighttime discounts. (The new fees come on top of an existing congestion surcharge that was imposed on for-hire vehicles in 2019.)

The tolls will mostly be collected using the E-ZPass system. Electronic detection points have been placed at entrances and exits to the tolling zone. Drivers who do not use an E-ZPass will pay significantly higher fees — for instance, $22.50 instead of $15 during peak hours for passenger vehicles.

Emergency vehicles like fire trucks, ambulances and police cars, as well as vehicles carrying people with disabilities, were exempted from the new tolls under the state’s congestion pricing legislation .

As for discounts, low-income drivers who make less than $50,000 annually can apply to receive half off the daytime toll after their first 10 trips in a calendar month. In addition, low-income residents of the congestion zone who make less than $60,000 a year can apply for a state tax credit.

All drivers entering the zone directly from four tolled tunnels — the Lincoln, Holland, Hugh L. Carey and Queens-Midtown — will receive a “crossing credit” that will be applied against the daytime toll. The credit will be $5 round-trip for passenger vehicles, $12 for small trucks and intercity and charter buses, $20 for large trucks and tour buses, and $2.50 for motorcycles. No credits will be offered at night.

Grace Ashford contributed reporting.

Winnie Hu is a Times reporter covering the people and neighborhoods of New York City. More about Winnie Hu

Ana Ley is a Times reporter covering New York City’s mass transit system and the millions of passengers who use it. More about Ana Ley

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I moved to Puerto Rico from New Jersey with my partner. Rent is cheaper, the weather is warmer, and we plan to stay.

• Jarrell Chalmers and his partner, Jose Diaz, moved to Puerto Rico to escape high rents in Jersey City.
• They work remotely in marketing but have also started a coffee company to support local farms.
• Despite higher grocery prices, they find life in Puerto Rico rewarding and have integrated well.

This as-told-to essay is based on a conversation with Jarrell Chalmers, a 31-year-old marketing consultant in San Juan, Puerto Rico. The following has been edited for length and clarity.

I'm from Jersey City, and my partner, Jose Diaz, is from Hartford, Connecticut. We lived in Jersey City before moving to San Juan, Puerto Rico , last April.

We're both of Puerto Rican origin — my mom and Jose's father were both born in San Juan — and we always knew that we wanted to experience it by living here.

Although our Spanish is a little shaky, it's improving, and integrating on the island has been pretty easy for us. We make it a habit to order our food, greet new people, and talk to our neighbors in Spanish.

We both work remotely as independent marketing contractors . None of our clients mind us living in Puerto Rico.

During the pandemic, rents skyrocketed in Jersey City

Jersey City became super expensive when the pandemic hit, and the quality of life wasn't the same as it used to be. We were working every single day just to make ends meet.

The cost of living is one of the main reasons we wanted to move to Puerto Rico. Here, our rent is about $700 cheaper a month. We stayed in an Airbnb for one month before moving and finding our apartment online.

We loved it when we visited, especially as Puerto Ricans who really love our culture. Not having to deal with seasonal depression in New Jersey has also been a bonus.

Before we moved, we gave away a lot of our furniture. We bought some from Amazon and everything else we sourced locally to support businesses on the island.

Rent is cheaper, but groceries are more expensive

Groceries are pricier due to laws like the Jones Act , which raises the price of many imports into the island. Farmers' markets can be good value, and Costco tends to be a bit cheaper than in New Jersey, but many places to buy groceries here are quite expensive.

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We can still get about 90% of the things we need on Amazon. If we can't get it shipped here, we use a website called Myus.com which ships things over from Florida.

The ugly side of relocating is the displacement of locals, but many have welcomed us with open arms

In January, I was down with COVID-19, and one of my neighbors dropped off a care package with a ton of medicine, tests, and home remedies. How people have treated us in this city is a big part of why we moved here.

But when many people move to a place, the rents rise, and locals can no longer afford to live there . Rents and house prices have risen considerably in recent years in Puerto Rico .

To help combat this, we've been giving back to people on the island in practical ways. We help locals with their résumés and cover letters for free.

We've grown a following on TikTok and Instagram , and we share where we eat, how we save money, grocery hacks, remote working tips, and recipes. We end many of our videos by asking our followers to comment if they need help.

They then email us their résumés and we tailor them to the jobs that they want. We've also been posting content on how to get remote jobs in Puerto Rico for Puerto Ricans.

We started our own coffee brand to promote local farms

We decided to start a company doing something that we actually enjoyed and could help us give back to the local area, so we created a coffee brand called Planeta De Cafe .

The objective is to amplify local farms on the island. For every sale we get, we donate $1 to a nonprofit called Puerto Rico Rise Up that's teaching students how to get more competitive jobs.

We post about our coffee company on our TikTok, too. Our dream is to take our coffee business and content creation full-time.

We share some of the negative parts of living here with our audience

People grew accustomed to us sharing the beautiful side of the island, so when we finally spoke on the dark side of it, I think some people were thrown off. We discussed the split between native and American-raised Puerto Ricans, the crowded hospitals, and the frequent power outages.

In some cases, tourists come and don't treat the island with care and respect. Since there are those who mistreat the island when they visit, tensions can be high.

We think it's important to shed light on real issues so more people are encouraged to work on and fix them.

Adjusting to the pace of life here has been hard at times, but ultimately rewarding

Back in New Jersey, everything's very fast-paced. Over here, everything's very slow . If you go to a restaurant, it will take 30-40 minutes to get food. You might have to wait a long time for a package or for your WiFi to get installed.

Things move slowly because people in Puerto Rico live in the moment, and that's what we love about it.

We miss our family and friends, but they visit often and stay in our spare room. For now, we plan on staying long term.

We've decided to build a life here. Our families left the island decades ago to find opportunities in the States. They found that opportunity and raised us to be self-sufficient. We're happy to return to our family's roots now that we are.

Watch: Marriott International's Tina Edmundson tells Insider that the travel mindset has changed since the pandemic

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Nine states plan to ban gas-powered car sales by 2035

Advanced clean cars ii rules look to phase out sales of new gas-powered cars in next decade.

Electric vehicles can't be imposed on middle America: Sen. Cynthia Lummis

 Sen. Cynthia Lummis, R-Wy., says the Biden administration doesn't have regard for the law on 'Kudlow.'

Nine states are planning to ban new gasoline-powered vehicle sales by 2035 as part of an initiative to cut climate-warming emissions.

The Advanced Clean Cars II rules originated in California with the state Air Resources Board. The regulations in California look to phase out the sale of new gas vehicles beginning with the 2026 model year, scaling back over time until 2035 – when a total ban on the sales will go into effect.

Since the rules were first adopted in California in 2022, eight other states have followed suit, with several others considering the plan.

So far, the other states that have implemented the plan to hit the goal of selling zero new gas-powered vehicles by 2035 include Washington, Oregon, New York, New Jersey, Rhode Island, Massachusetts, Delaware and Maryland.

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Nine states have undertaken a plan to scale back the sales of new gas-powered vehicles over the next decade, with the goal of completely eliminating the sales by 2035. (Fox News / Fox News)

The rules do not stop residents in these states from owning or using gas-powered cars, nor do they force consumers to buy electric vehicles (EVs). Dealerships can still sell used cars powered by gas, and consumers in these states can purchase the gas-powered vehicles in other states – as long as they meet certain emissions standards. 

Not everyone, however, supports this effort.

The New Jersey Business and Industry Association (NJBIA) led a campaign last year to try and stop New Jersey's adoption of the Advanced Clean Cars II rule.

Ray Cantor, the chief deputy government affairs officer at the NJBIA, told Fox News Digital in a statement that the plan ignores the cost to consumers and lack of current infrastructure.

"The ban on new gas-powered cars in such an expedited time does not take costs or feasibility into account," Cantor said. "It does not take the lack of local and highway infrastructure into account. It does not take grid capacity into account. It ignores consumer choice. It doesn’t take New Jersey residents into account, especially low- and moderate-income families. And it doesn’t take the lack of actual environmental benefit into account."

Under the action, residents can still own and drive gas-powered vehicles and purchase new gas-powered cars in other states. (iStock / iStock)

Cantor urged New Jersey to "apply the brakes" to what he called an obvious "bureaucratic overreach" before the mandate starts to affect consumers.

"There's nothing wrong with working to reduce carbon emissions," Cantor said. "And the marketplace would have likely seen a natural increase of EV users with an organic time frame to build appropriate capacities. But the near-term, targeted mandates will increase the prices of both new and used gas-powered cars."

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In support of the action, Rhode Island Department of Environmental Management Director Terry Gray has called the rules a "major step" in the fight against climate change in the transportation sector.

"In terms of economic impact, states joining together to send a clear signal to the market will result in greater economies of scale, driving down the prices of ZEVs (zero-emission vehicles), and ensuring that Rhode Island dealers and customers have full access to electric vehicles," Gray said.

The rules come as the Biden administration has sought to push the transportation sector from gas-powered vehicles to EVs as part of its climate agenda.

Last year, the  Environmental Protection Agency (EPA)  unveiled its own plan to increase vehicle pollution standards that will impact car model years 2027 through 2032. 

If the EPA’s regulations are finalized, a staggering 67% of new sedan, crossover, SUV and light truck purchases could be electric by 2032, the White House projected. In addition, up to 50% of bus and garbage truck, 35% of short-haul freight tractor and 25% of long-haul freight tractor purchases could be electric by then.

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However, the push toward EVs has faced multiple setbacks in the industry.

Earlier this month, Hertz CEO Stephen Scherr resigned after the car rental company's big bet on EVs went bust due to its struggles to keep up with the higher repair cost and lower demand for EV rentals.

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Ford's EV division, Ford Model e, posted a net loss of $4.7 billion last year — with $1.6 billion of that in the last quarter — and Ford's chief financial officer John Lawler explained during the company’s earnings call last month that both "the quarter and year were impacted by challenging market dynamics and investments in next-generation vehicles."

Fox News' Thomas Catenacci and Eric Revell contributed to this report.