Innovation and Entrepreneurship
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Innovation and Entrepreneurship

Successful Start-ups and Businesses in Emerging Economies

Edited by Ruta Aidis and Friederike Welter

Little is known about innovative and successful enterprises in the countries that, until 1990, were part of the Soviet Union. Most previous research has extensively covered barriers to entrepreneurship and innovation that exist in these countries, some of which undoubtedly represent a hostile and harsh environment for any entrepreneurial activity. In this book, a different perspective is introduced. The focus is shifted to the innovative potential that these environments provide, demonstrating how entrepreneurs have been able to convert possibilities in hostile business environments into successful businesses. Through this collection of six in-depth case studies, the authors illustrate how successful and innovative businesses were able to develop in countries such as Russia, Belarus, Kazakhstan, Kyrgyztan, Moldova and Ukraine. Each case study presents an overview of the country’s key economic indicators and the role of small and medium-sized enterprises (SMEs) in the economy, followed by the presentation of a case study of a successful SME.
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Chapter 6: How to be Successful in an Adverse Business Environment: Knitwear Factory in Moldova

Elena Aculai, Natalia Vinogradova and Friederike Welter


Elena Aculai, Natalia Vinogradova and Friederike Welter INTRODUCTION Considerable changes in Moldova in the last 15 years have had their effect on every aspect of life. One of the most remarkable of these changes was the transformation of forms of ownership, which resulted in private entrepreneurship. However, while there have been positive business developments overall, such as an increasing share of private businesses, the competitiveness of private enterprises and their innovativeness changes only slowly. This is to a large extent a result of the business climate. This chapter will illustrate the development of private business at different stages through the example of a typical ‘successful’ entrepreneur and her business in Moldova, in order to analyse those factors which encourage and challenge enterprise growth in Moldova’s turbulent business environment. First, we present a brief review of business development in Moldova, followed by a review of the link between the business environment and business development. We then present the case of a successful business in Moldova, before developing conclusions. A BRIEF REVIEW OF BUSINESS DEVELOPMENT IN MOLDOVA The Republic of Moldova borders the Ukraine in the east and Romania in the west. Moldova occupies a territory of 33 800 sq. km and has 3.9 million inhabitants. The market reforms of the 1990s exerted a pronounced negative influence on the economy in Moldova. For example, in 2004 real GDP amounted to a mere 44 per cent of that of 1989; the rate of inflation was 12 per cent annually...

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