The 2025 parliamentary elections in Albania are approaching, and with them attention has turned to the potential impact on the business climate. Small and medium-sized enterprises (SMEs) make up about 99.951 TP3T of all enterprises in place, serving as the main pillar of employment and economic development. Thus, any change in fiscal and tax policies after the elections directly affects this category. Below, we analyze the current state of fiscal policies for SMEs, the main economic promises in the election programs of the major parties, and the expectations of entrepreneurs themselves for the post-election period.
Current State of Fiscal Policies for BVM
The current income tax regime for small businesses
For several years, Albania has implemented tax relief policies for small businesses. Currently, the corporate income tax is 0% for all taxpayers with annual revenues up to fourteen million leka. This means that a majority of small businesses pay no tax at all on their business profits. Above this threshold, businesses are classified as large and pay corporate income tax at a rate. 15% on their profits.
Value Added Tax
Another pillar of fiscal policy is VAT (Value Added Tax (VAT)Not all businesses are required to calculate and pay VAT; there is an annual turnover threshold above which this obligation takes effect. Currently, the VAT registration threshold is 10 million lekë per year. This means that businesses with annual turnover below this amount are exempt from VAT (they do not have to add VAT to their sales or file VAT returns). The standard VAT rate It is 20%.
Many small businesses (neighborhood shops, artisans, etc.) benefit from this exemption, which spares them both the tax payment and the monthly reporting bureaucracy. It is worth noting that this threshold has changed several times in recent years – for example, in 2018 it was temporarily lowered to 2 million lek and then, from January 2021, raised to 10 million lek. Such fluctuations in the VAT threshold indicate a certain instability in fiscal policies, which is a concern for businesses that prefer long-term, predictable rules.
Individual income tax and contributions
For Income from employmentThe progressive tax rates that apply are 13% and 23%. For low-income employees, the tax burden is reduced by lowering the taxable base (gross wage) by a specified amount provided for in Article 22 of the law, instead of applying a 0% rate to a certain pay segment.
- For annual employment income up to 2,040,000 ALL (equivalent to 170,000 ALL/month), a 13% tax rate applies.
- For annual employment income above 2,040,000 ALL, a 23% tax rate applies.
On the other hand, social security and health insurance contributions, which are mandatory for both the employer and the employee, have rates of their fixed (e.g., 15.1% employer contributions and 9.5% employee contributions). These payroll taxes also affect small businesses, because rising labor costs can be challenging for them, especially when the minimum wage is increased by government decree. Currently, the monthly minimum wage in the country has been raised to 40,000 lek (about €340) and is expected to increase further in the coming years, which will proportionally raise the contributions businesses pay for their employees.
General business climate
Beyond tax rates, the business climate is also determined by factors such as bureaucracy, formalization, and competition. In recent years, the government has undertaken reforms to streamline procedures and combat informality. One example is the “fiscalization” project, which digitized invoice issuance and tax documentation – now every sale or invoice is electronically recorded with the tax authorities in real time. This increases transparency and makes tax evasion more difficult, but on the other hand it has added technological and operational costs for small businesses (for fiscal devices, computer software, continuous internet access, etc.).
Likewise, the tax administration has intensified on-site inspections to combat informality. Small businesses often complain that tax inspections can be frequent and selective, adding uncertainty. However, international reports also highlight the positive side: Albania has made improvements in several dimensions of the business environment, such as the regulatory framework for SMEs, the operating environment, and public procurement, although there is still work to be done in areas like financing and innovation.
Current challenges for BVMs
Despite tax incentives, many BMVs in Albania have encountered difficulties in recent years. According to a study Finally, the lack of investment, financial support, and unfair competition are among the main reasons why a large number of small and medium-sized businesses are facing serious difficulties, even to the point of shutting down their operations. Many enterprises of this size suffer from limited access to bank credit (banks consider SMEs high-risk and often demand unaffordable collateral).
Even government programs or donors offer grants and funds to NGOs, but experts They point out that disseminating information and providing access to these schemes is not effective – often small entrepreneurs do not learn about the opportunities offered in time. Furthermore, fiscal stability has been identified as a deficiency by the entrepreneurs themselves: “The first challenge is sustainability, and in that respect the fiscal incentives—or even the incentives provided by the government—are lacking. They have been almost nonexistent.”, says a small business owner. This implies that although formal, the 0% tax regime helps, businesses need a more stable environment and more active support (e.g., subsidies, training, or development policies) to flourish.
In this context, the 2025 elections are viewed with particular interest by the business community. Many hope that after the elections there will be either a continuation of the current successful policies or new reforms to support entrepreneurship. Below we see what the two main political forces have promised regarding the economy and business.
Economic Promises in the 2025 Election Platforms
This analysis focuses solely on the economic and entrepreneurial aspects of the election platforms, without delving into political or ideological debates. The goal is to understand what concrete changes small and medium-sized businesses can expect from each platform, in an impartial manner.
On the eve of the 2025 elections, the economy and the business climate occupy a central place in the campaigns of the major parties. Below are the key economic ideas and proposals of the Socialist Party (PS) and the Democratic Party (DP)– the two main forces – with a focus on fiscal and tax measures and the promotion of entrepreneurship:
The main promises of the Socialist Party (PS):
- Increase in wages and purchasing power: The PS promises a significant increase in wages during the next term. For example, the minimum wage is set to reach €500 per month by 2026 (from around €400 currently) and the average wage in the economy is expected to reach €1,000. Public sector wage increases have also been promised, with the average teacher's salary targeted at €1,250 and doctors“ at up to €2,000. The goal is to increase citizens” well-being and domestic demand for goods and services, from which local businesses would also benefit (higher consumer spending means greater revenue for businesses). As an additional tax relief measure, the PS states that for the first 18 months of the minimum wage increase, the state will not impose any tax liability on the wage supplement. This can be interpreted as a "tax-free" period for the €100 increase in the minimum wage, to give businesses breathing room in covering the additional costs.
- Continuation of current tax policies (zero tax for small businesses): PS clearly signals the continuation of the fiscal status quo for small businesses. In the economic program announced as part of the “Albania 2030” initiative, Prime Minister Rama emphasized that until 2029 there will be no changes to the small business tax. – it will remain 0.1%, while the tax on large businesses will stay at 15%. This is a guarantee of stability that assures small and medium-sized enterprises that there will be no sudden tax increases on them for at least the next four years. Furthermore, the PS proudly emphasizes that Albania is and will continue to be “the only country in the region with zero tax for small businesses.” This favorable regime also includes the fact that the turnover threshold defining “small business” status has been raised to around €140,000. (from 8 million lekë / ~55 thousand € previously) and that VAT has been abolished for small businesses with revenues up to €100 thousand. In other words, the PS aims to keep the current tax-exemption thresholds unchanged, which have already been significantly expanded following recent reforms. This is good news for existing businesses below these thresholds, which will not be brought into the tax or VAT scheme at least until 2029.
- “Fiscal Peace” – Agreement with businesses on inspections and taxes: An innovative element in the PS program is the concept called “negotiated fiscal peace.” According to this proposal, in the new mandate a three-year agreement will be offered between the government and businesses, under which companies will be granted a waiver of tax audits during that period if they agree to declare and pay a specified tax on their profits. Specifically, it is stated that a 15% corporate tax will be paid on declared profit up to the level of average economic growth, while any additional profit will be taxed at a reduced rate of just 5%. This “fiscal peace” aims for two outcomes: (1) Relief for businesses – they will have the assurance that there will be no audits, inspections, or arbitrary fines for three years, saving time and money; (2) Incentive for full profit reporting – since additional profits are taxed at just 5%, businesses have more reason to declare them rather than hide them. If implemented, this policy would be a major shift in the relationship between the tax administration and businesses, moving it from strict control to trust and cooperation. Of course, it remains to be detailed which businesses qualify and how it will be implemented in practice, but the idea itself has been welcomed by many entrepreneurs as an innovative alternative to the current climate of tax audits.
- Public investments and the promotion of priority sectors: The PS program includes continuing major infrastructure investments and supporting key sectors of the economy, with the aim of creating a favorable business climate. 700 km of new roads have been promised, the completion of major projects such as the Adriatic-Ionian Corridor and Corridor VIII, the reconstruction of railways (e.g., the Durrës–Prishtina line), as well as strategic investments such as the new Porto Romano commercial port. These projects are expected to open opportunities for both large companies and small local subcontractors. Also, the PS aims to empower the agritourism sector (by increasing agritourism units in villages) and to boost solar energy production (a 30% share of energy production from solar is targeted). In agriculture, support is promised for the creation of agricultural cooperatives and the processing of local products, while in tourism the continuation of policies promoting Albania as a destination (the PS considers tourism one of the main drivers of growth). Although these measures are not directly “tax” measures, they affect the business climate: better infrastructure lowers transportation costs for SMEs; developed tourism brings more customers to local businesses; energy projects can create a market for solar equipment firms, installers, etc. Thus, the PS's focus on “sustainable economic development” aims to create an environment where businesses—including small and medium-sized ones—find more opportunities to grow.
It is worth noting that the Socialist Party has not promised any new tax cuts, apart from continuing existing relief policies for small businesses. Its approach is more focused on maintaining fiscal stability and economic growth through investments and increasing the population's income. This reflects the belief that the current tax scheme – zero for small businesses and progressive for individuals – has delivered its results and should be kept on the right track.
The main promises of the Democratic Party (DP):
- Introduction of a flat tax instead of progressive taxation: A major change proposed by the PD is the return to the flat tax. The PD declares its philosophy as a party of “low taxes and the flat tax” on income. This means that the tax on personal income (including wages, business profits, etc.) will be unified into a single rate for everyone, instead of being progressive (with different rates based on income as it is now). In fact, the PD has proposed a 10% rate of flat tax for most categories, reminiscent of the “10% tax” policy implemented in the past (2008–2013). Specifically, the corporate profit tax will be reduced from 15% to 10% in the first year. Likewise, the tax on wages and personal income is expected to be unified around this low rate (it has not yet been finalized, but traditionally PD has applied 10% to individual incomes as well). According to PD, removing progressivity will strengthen the middle class and encourage work, while lowering the tax-cutting the profit tax to 10% will leave more money in the hands of entrepreneurs to reinvest in their businesses. This policy is expected to be welcomed by medium and large businesses that currently pay 15%, but for small businesses the direct effect is limited (since most of them will still be below the tax threshold even if the new scheme is applied – see the next point).
- Radical relief for small businesses (zero taxes up to 18 million Lek): The PD has articulated a strong promise to expand relief measures for SMEs. According to its representatives, any business with annual revenue of up to 18 million lekë would be exempt from VAT and income tax. This would be a significant increase over the current thresholds (10 million for VAT and about 14 million for corporate income tax). In practice, the PD is proposing that businesses somewhat larger than the current “small” ones be treated as small for tax obligations: A business with a turnover of 15 or 17 million lek (approximately 130-140 thousand euros) would be completely exempt from taxes if this plan is implemented. This measure aims to give a broader range of businesses breathing room, encouraging them to emerge from informality and grow without a tax burden until they exceed a higher threshold. Also, the PD has emphasized that self-employed professionals will also be exempt from taxes. This includes, for example, artisans, artists, consultants, or individual professionals (dentists, lawyers, etc.) operating under a personal NIPT. Currently, many of them are required to register for VAT as soon as they exceed 10 million lekë in turnover or to pay income tax if they are self-employed; the PD proposes to exempt them from these obligations as well until their annual income falls below 18 million lekë. Specific example: A clothing store with annual sales of 15 million lekë today pays 20% VAT on sales above 10 million lekë and would, in principle, pay 15% corporate income tax on its profit (if it were not exempt under the current law up to 14 million lekë). Under the PD's scheme, the same store would not pay any of these taxes – which would help it lower prices or invest in expansion. Of course, such a policy would reduce short-term revenues in the state budget, but the PD believes this loss will be offset by the increase in the number of businesses and the formalization of existing ones (taxes would be collected when these businesses grow larger). This promise clearly positions the PD as pro-small business, offering perhaps the greatest fiscal relief seen in Albanian election platforms to date.
- Tax cuts in specific sectors: In addition to the general scheme, the PD also addresses sector-specific taxes. One example is the reduction of the property transfer tax (a tax paid when selling or buying real estate, currently 15% of the capital gain or of the sale price in some cases). PD proposes cutting this tax to just 2% of the value for the construction and real estate sector. This aims to stimulate the property market and construction by lowering transaction costs. Critics may see it as favoring real estate developers, but PD argues that lowering the tax will revitalize this sector, increase the number of transactions, and ultimately generate more revenue than the current high tax (the “low tax – broad base” principle). Similarly, the PD speaks of incentives to promote “Made in Albania” – meaning fiscal policies or subsidies for domestic producers to increase exports or replace imports. Although without full details, one can imagine reduced customs duties on raw materials, VAT relief on production equipment, or grants for local manufacturing businesses.
- Fiscal code and policy sustainability: One point that the PD has strongly emphasized is the necessity of a new “Fiscal Code.” The idea is to draft a stable legal framework that defines the basic principles of the tax system, so that we don't have frequent changes with each annual budget. “We propose a fiscal code that establishes the basic rules under which businesses operate, providing stability and predictability for business.”said one of the PD's vice chairs. This will be accompanied by a “day-one agreement with business” on the new fiscal package, in order to build mutual trust between the new government and entrepreneurs. Such a code would include the introduction of a flat tax, the restructuring of VAT, and other tax elements, with the aim of eliminating arbitrary exemptions or preferential treatments that distort the market. The PD criticizes the fact that currently many sectors have tax exemptions or reductions (for example, some large businesses receive special status and pay no taxes for 10 years, or certain companies get VAT reimbursed, etc.) and promises to eliminate these clientelist exemptions. Instead, with a flat tax the taxpayer base is expanded, but everyone is treated the same. Businesses welcome the idea of simplifying and unifying the rules, provided they are not suddenly burdened with new taxes. The PD guarantees that its philosophy is one of “low taxes” and that the new fiscal code will institutionalize precisely this long-term philosophy.
- Competitiveness and consultation with business: In the PD's economic vision, in addition to taxes, improving the country's competitive climate is also important. The PD says it will fight monopoly and market abuses, creating a level playing field for all businesses. It has also promised that public consultations on economic policies will be meaningful, not merely formal. Thus, the voices of chambers of commerce, business associations, and entrepreneurs themselves will be genuinely taken into account when drafting laws or reforms. This follows criticism that fiscal laws are often changed without extensive consultation with interest groups. A PD government promises to put an end to this practice by institutionalizing a more transparent and collaborative relationship with the business community. This is expected to boost entrepreneurs' confidence and encourage them to invest more, confident that policies will not be unpredictable.
Overall, the Democratic Party is presenting a more aggressive platform on tax cuts and pro-business reforms. The substantial reduction in the tax burden aims to revive the economy by leaving money in the private sector, with the hope that this will create jobs and growth. However, the success of these measures must be evaluated in terms of their impact on the budget and whether there will be compensation for lost government revenues. For small and medium-sized businesses, the Democratic Party's proposals sound particularly attractive: lower taxes, less regulation, more stability.
What do the other political actors offer?
Besides the PS and PD, smaller parties or new coalitions have also come forward with their own economic ideas, although their main focus is not necessarily the business climate. The Euro-Atlantic Coalition, a new political force in these elections, has emphasized family policies and honest governance. Their representative has stated that they plan to subsidize young couples buying their first home (financing 20,000 couples), and provide bonuses for children born (up to €20,000 for the third child). as well as anti-corruption measures such as “Politician Vetting.” This coalition in fact admits that “we can't promise tax cuts or a war on corruption” like their major rivals, but they focus on social welfare. In fiscal terms, they mention an interesting approach: taxes would be paid on a family basis rather than individually, although it is not yet clear how this would be implemented. In general, the programs of the smaller parties do not foresee drastic fiscal changes – many of them support low taxes and business support in principle, but have not proposed concrete measures like the PS or PD. This means that the choice between the main economic alternatives remains largely between the PS's “continuity with stability” approach and the PD's “change with lower taxes” approach.
Entrepreneurs' Expectations After the 2025 Elections
Given the above promises, the question arises: What do entrepreneurs and small/medium-sized businesses themselves expect from the new government after 2025? Although each business has its own specifics, we can highlight some key general expectations often voiced by the business community:
- Fiscal Stability and Predictability: This is perhaps the number one request of every business. Entrepreneurs want long-term, stable rules of the game so they can plan their investments and expansion with confidence. Frequent fluctuations in tax laws – such as repeatedly changing the VAT threshold or introducing/removing new taxes overnight – create uncertainty and make businesses hesitant to make major decisions. For this reason, any commitment to stability is welcome. Both the PS and the PD address this point, but in different ways: the PS promises status quo until 2029 (zero tax for the little ones and 15% for the big ones with no changes), while the PD promises a Tax Identification Number that will give the system stability and won't allow frequent fluctuations. Both approaches aim for one thing – to show businesses that they won't face surprises every year. From the perspective of a small business owner, even if the new post-election policies don't bring him tax cuts, the most important thing is that there are no sudden hits (e.g., increased contributions, new local taxes, additional fees) that could derail his books. In this sense, the continuity promised by the Socialist Party ensures that “if your business is doing well now, it will continue the same way,” while the legal framework of the Democratic Party promises “a clearer long-term climate, without zigzags.” Both alternatives address the main concern expressed by entrepreneurs – “Fiscal sustainability… has been almost nonexistent.”as the entrepreneur quoted above said. After the elections, businesses expect the new government (whichever it may be) to honor these commitments to stability and not make immediate changes that could unsettle them. For example, if the PD comes to power and implements the 10% flat tax, it is expected that this will be done immediately and then not changed again, so that businesses can adapt once and for all to the new system. If the PS is re-elected, it is expected to truly leave the current system alone as promised and to carry on with long-term plans through 2030. Fiscal stability is the foundation on which small businesses can build growth plans – without it, all planning becomes gambling.
- More Friendly Tax Administration and Fair Enforcement: A significant expectation concerns the way tax laws are enforced, not just their content. Very often, businesses (especially small ones) complain that the way tax inspections are conducted is problematic: frequent inspections, hefty fines even for minor irregularities, or even informal corrupt requests from some dishonest inspector. These concerns negatively affect the business climate, since a shop owner may be more afraid of the “unexpected bills” he might face during an inspection than of the regular tax burden itself. After the elections, entrepreneurs expect a more educational and collaborative approach from the tax administration, rather than a punitive one. The PS's promise of “fiscal peace” addresses precisely this—eliminating routine inspections for a certain period. If implemented, this would significantly reassure businesses, allowing them to focus on their work without fearing an inspector at the door. On the other hand, even without this radical measure, further digitalization (electronic invoices, online filings) is expected to reduce direct contact between the business and the inspector, thereby cutting down on opportunities for abuse or subjective interpretation. Businesses want tax audits to be fair, professional, and focused on advice rather than fines. A concrete expectation is that the new tax administration (the new leaders after the elections) will focus on major evaders and smuggling, not on worrying small businesses about unintentional mistakes. A calm audit environment means that honest businesses don't feel pressured, while the informal sector is compelled to formalize through improved systems. Even the PD, although it doesn't have a specific initiative like “fiscal peace,” with its fiscal code and tax cuts automatically aims to reduce the incentive for evasion (when taxes are low and simple, fewer businesses are tempted to avoid them). This should translate into a reduced need for aggressive audits. In general, entrepreneurs hope that after the elections there will be a “reset” in the relationship with taxes: a fresh start where tax authorities treat businesses with respect as partners contributing to the economy, and businesses respond by filing accurately. Concrete example: A small family restaurant would prefer to receive advice on how to keep proper documentation rather than be suddenly penalized for an incorrect invoice. If the new policy allows the inspector to come as a “mentor” even once a year, instead of coming as a “fine-imposer” several times, this will be seen as a success by the business community.
- Continuation (and expansion) of tax incentives: Since small businesses already enjoy a 0.1% corporate tax rate and VAT exemptions to a certain extent, they naturally expect these benefits to continue even after the elections. It would be shocking for them if, for example, the new government were to decide to bring small businesses back under the normal tax regime. Fortunately, both main parties promise the opposite: to maintain or even expand these exemptions. The Socialist Party has made it clear that the zero-tax regime for small businesses will remain unchanged until 2029. The Democratic Party goes even further, promising to raise the “small business” threshold to 18 million lekë in revenue. This means that entrepreneurs can be confident they won't be taxed until their business reaches a somewhat larger scale. This certainty encourages them to grow—they don't fear that crossing the threshold will immediately impose a heavy fiscal burden. For example, a small food producer with a turnover of 12 million lek today may hesitate to add capacity because once it exceeds 14 million lek it would have to start paying corporate tax; but if the threshold rises to 18 million lek, it has a bit more room to expand without taxes. The expectation is that whichever government comes to power will at least not worsen the fiscal conditions for micro, small, and medium-sized enterprises, but ideally improve them. If the PD comes in, small businesses expect the immediate implementation of the “zero taxes up to 18 million” promise. – this would motivate many of them to declare their entire turnover (because they wouldn't be afraid of taxes again) and would increase their net profits. If the PS remains in power, they expect the promise kept so far (zero tax on <14 million) to continue and perhaps be accompanied by other support measures (for example, the PS has also spoken about funds and grants for young people's start-ups, soft loans for innovative businesses, etc., in its plans). Another aspect is local taxes and fees – businesses often have to pay municipal fees for signage, public space, infrastructure tax, etc. In this regard as well, expectations are that the central government will cooperate with local authorities so as not to burden small businesses with high fees that could harm them. Some municipalities, for example, have eliminated the sign fee for small shops, which is a modest but meaningful help. Entrepreneurs hope that a “pro-small business” philosophy will be present at every level of decision-making.
- Other structural reforms in favor of business: Alongside taxes, small businesses are waiting for reforms to simplify and improve the ecosystem in which they operate. This includes a wide range of measures, such as streamlining administrative procedures, reducing bureaucracy for licenses/permits, and improving the judicial system (e.g., the swift resolution of commercial disputes and disagreements with parties or with the state), the fight against corruption (so that public funds go to quality projects and not into the wrong pockets, and so that competition in tenders or the marketplace is fair), etc. In this regard, The American Chamber of Commerce has recommended seven key pillars for a more competitive economy, which include precisely: strengthening the investment climate and regulatory framework, fighting corruption and increasing transparency, effective consultations with business, a modern tax system, investments in human capital, the development of sustainable tourism, and the modernization of the healthcare system. These priorities show that improving the business climate is not limited to taxes but also involves reforms in institutions and other sectors. Albanian entrepreneurs expect the continuation of reforms such as the creation of one-stop shops (e.g., the National Business Center already offers unified registration services), the improvement of digital infrastructure (internet, government online services), support for workforce training (because finding qualified employees is becoming a challenge with youth emigration), and incentive policies for financing SMEs (loan guarantees, development funds, etc.). Some of these areas do not depend directly on the elections, but the overall political climate after the elections will also affect them. Essentially, businesses want a government that listens to them and understands their practical challenges – whether it's a baker seeking a building permit to expand their bakery, or a tech start-up in need of investors and office space. The expectation is for an ongoing public-private dialogue, where economic policies are crafted with the real impact on businesses of all sizes in mind. This would help create a more predictable, stable, and encouraging climate for entrepreneurship.
Conclusions
The 2025 parliamentary elections are widely considered a pivotal moment that could determine the economic direction of Albania for years to come. Small and medium-sized businesses, as the backbone of the national economy, have much at stake in the outcome of these elections. The above analysis shows that despite political differences, there is a general consensus on the importance of supporting SMEs: all parties agree that a positive business climate for them is essential for economic growth, employment, and overall well-being.
On the one hand, the Socialist Party offers continuity and stability – assuring businesses that there will be no fiscal shocks and that current policies (low taxes for small businesses, public investments) will continue. Proposals such as “fiscal peace” demonstrate a willingness to experiment with a business-friendly approach, which could make the administration more of a partner than an adversary to entrepreneurship. On the other hand, the Democratic Party is offering change and tax cuts – promising a new, simpler, more business-friendly (especially for small businesses) fiscal regime, with the aim of revitalizing the economy through the free market. This approach is expected to please many entrepreneurs, but it also comes with the expectation that such a reform be implemented carefully to avoid confusion or temporary uncertainty.
For the average Albanian entrepreneur, the main goal is that after May 11, 2025, there will be an environment where he can do business with clear rules, affordable taxes, and institutional support when he needs it. He wants to see campaign promises turned into concrete actions: if he was promised zero tax, he wants to see it reflected in the new law; if he was promised he wouldn't be bothered with inspections, he wants to feel the change in practice. Businesses also hope that the focus on the economy doesn't end on election day – but continues with regular consultations with them when policies are drafted. Concrete examples from the past remind us that election campaigns often brought about piecemeal changes to laws (enacted on New Year's Eve, etc.); this time the opposite is expected: transparency and planning.
In conclusion, it can be said that the business climate in Albania in the coming years will depend not only on the party that wins the elections, but also on its dialogue and cooperation with the business community. Small and medium-sized businesses have clearly articulated their needs – stability, reduced barriers, financing, and fair treatment. The ball will be in the new government's court to address these needs. If the promised reforms are successfully implemented, Albania could find itself with a more formalized economy, with thriving SMEs growing from small to medium and from medium to large, creating jobs and prosperity. Whatever the outcome, entrepreneurs will be watching closely and holding their breath, hoping that 2025 will mark the beginning of a new, more favorable era for doing business in Albania.