Small and Medium Sized Enterprises as the Driving Force of Romania Economic Growth
AbstractThe article focuses on enhancing the role of SMEs in Romania as a growth factor. It examines the role of SMEs especially in increasing value added and labor productivity in EU. The paper pays special attention to the principles underlying the Small Business Act and to the importance of entrepreneurship development as a source of new jobs. In conclusion, the number one priority in Romania is to facilitate the finance access for SMEs. Without SMEs access to adequate funding and no liquidity, no business can operate, invest and grow. This means ensuring financial market stability and strengthening banks, while ensuring that credit policy is focused on stimulating SME development. Another top priority for the development of SMEs sector in Romania is to increase innovation and youth entrepreneurship. Last, but not the least the top priority for developing SMEs as driving force of Romania economic growth is to promote SMEs internationalization.
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Bibliographic InfoArticle provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.
Volume (Year): 6 (2014)
Issue (Month): 2 (June)
Small and Medium Enterprises; Entrepreneurship; Value Added; Productivity; Internationalization;
Find related papers by JEL classification:
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
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