In the world of entrepreneurship, every business idea requires a solid financial plan to transition from concept to reality. Students from the UTM Faculty of Economic Engineering and Business delved into the universe of financing for fledgling businesses during a public lecture led by Vitalie RAPCEA, program director at Expert-Grup. The lecture was part of the National Financial Education Campaign, implemented by the National Bank of Moldova and Expert-Grup, with support from the USAID Moldova project “Institutional and Structural Reforms in Moldova” (MISRA) Moldova PRO Reforme.
During the session, students were introduced to various financial instruments and resources aimed at materializing entrepreneurial visions. The lecture focused on the main financing options available for initiating a business venture, including traditional avenues such as loans from commercial banks, non-bank credit organizations (NCOs), or savings and loan associations (SLAs). Leasing was also highlighted as a viable option for acquiring equipment, technology, or transportation without necessitating additional guarantees. Additionally, crowdfunding platforms were presented as an effective means for young entrepreneurs to garner support and funding from a global audience who believe in their business concepts. The issuance of bonds, promising loan repayment and interest, emerged as another avenue to attract investor capital.
Through comprehensive analysis, students gained insights into the benefits and risks associated with each financing option, as well as an understanding that financing strategies may evolve throughout the life cycle of a business, spanning from launch, through maturity, to decline.
Despite the challenges along the path to business success, students left the lecture equipped with renewed optimism and motivation. Although Moldova holds vast potential for SME development, access to financing remains a hurdle. Nevertheless, with the right education and guidance, these obstacles can be overcome, encouraging young people to pursue their entrepreneurial aspirations.
The interest and enthusiasm displayed by students from FIEB-UTM underscored their understanding of the importance of financial knowledge in business management. The active participation of the attendees in the interactive quiz further demonstrated their commitment to learning and readiness to navigate the entrepreneurial field.
With the right resources and support, young entrepreneurs can turn their dreams into reality and contribute to the economic and social development of the country.
