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SMEs between Truth and the Political Approach. The Future of the SMEs in Romania

Author

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  • Romeo IONESCU

    () (Danubius University, Galati, Romania)

Abstract

The paper deals with the idea that is it a great difference between the European approach for the SMEs and the Romanian one. The analysis of the paper is based on comparisons between EU27 as a whole and Romania and other representative Member States and Romania. This analysis is focused on the finding those ways of action in order to support the development of the SMEs in Romania and in the EU. A distinct part of the paper analyses the impact of the global crisis on the SMEs in different Member States and in Romania. This crisis supports the idea that the SMEs represent the growth engines of the EU economy, but the national legislation is far away to be able to promote their development. An interesting part of the paper is connected to the EU promises made in the last years with the revised Small Business Act and the EU 2020 Strategy connected to it. Starting October 2011, a plan for the SMEs' access to finance involves the introduction of a long-touted initiative to facilitate the venture capital for the SMEs across the Europe. The main conclusion of the analysis is that the exit of the Romanian SME sector from crisis has to be based on political stability, reducing taxation, state aid and accessing support from the EU funds. The analysis in the paper is followed by the latest pertinent official statistical data and diagrams.

Suggested Citation

  • Romeo IONESCU, 2011. "SMEs between Truth and the Political Approach. The Future of the SMEs in Romania," EuroEconomica, Danubius University of Galati, issue 5(30), pages 111-118, December.
  • Handle: RePEc:dug:journl:y:2011:i:5:p:111-118
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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/1148/963
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    References listed on IDEAS

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    1. Beck, Thorsten & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2008. "Financing patterns around the world: Are small firms different?," Journal of Financial Economics, Elsevier, vol. 89(3), pages 467-487, September.
    2. Andreas Dietrich, 2012. "Explaining loan rate differentials between small and large companies: evidence from Switzerland," Small Business Economics, Springer, vol. 38(4), pages 481-494, May.
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