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  • Sorin Visinescu

    (Academy of Economic Studies)

  • Dan Micuda

    (Constantin Brancoveanu University)


SMEs play a vital role in economic development. They offer the most economical use of capital in relation to job creation and provide the strongest growth channel for regional development. They are also recognized as the vehicle for growth in today’s regionally and globally interdependent and competitive economy. With a view at the global economic slowdown, it became apparent that economies in all regions of the world have significantly lost momentum which also affected SMEs. This paper present the main difficulties faced by SME in the EU region on the context of the present global crisis and deliver some recommendation about the reaction governments should take in order to avoid a major crisis in this important economic sector.

Suggested Citation

  • Sorin Visinescu & Dan Micuda, 2009. "CHALENGES FACED BY EU SMEs IN THE CONTEXT OF THE GLOBAL ECONOMIC CRISIS," Romanian Economic Business Review, Romanian-American University, vol. 4(3), pages 187-198, September.
  • Handle: RePEc:rau:journl:v:4:y:2009:i:3:p:187-198

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    Cited by:

    1. Maja Kocevar & Dietmar Sternad, 2014. "The Role of Serbian Higher Business Education in Overcoming the Challenges of SME Managers," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 3(1), pages 23-42.

    More about this item


    SME; financing; economic recession; bankruptcy;


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