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COVID-19 Crisis – Impact of the Pandemic into the Perception of Business Risk through Romanian SMEs Sector

Author

Listed:
  • Nicolae Daniel MĂIŢĂ

    (West University of Timisoara)

  • Alexandra-Irina (BADEA) PĂDUREAN

    (West University of Timisoara)

  • Vasile APOSTOL

    (West University of Timisoara)

Abstract

The aim of the study is to evaluate the impact of the COVID-19 crisis on the entrepreneurship sector in Romania, attempting to contribute with various solutions that can have a direct long-term impact on the sectors affected by the pandemic. As we know, small and medium-sized enterprises are the most vulnerable ones because of their size, limited financial resources, and influences on the market itself. In Romania, as in all of Europe, the SME sector has been severely affected by the COVID-19 pandemic. This element concludes to several measures of the Romanian government to maintain the sector afloat, in order to obtain better results in the strategical long-term position. In compliance with the official statistic, in Romania, in all sectors of activity, four out of ten companies, especially SMEs are in the red zone, that means the risk is very high, with outlays higher than incomes and with a total number of around 955.000 employees looking to find some other jobs in different sectors of activity.

Suggested Citation

  • Nicolae Daniel MĂIŢĂ & Alexandra-Irina (BADEA) PĂDUREAN & Vasile APOSTOL, 2021. "COVID-19 Crisis – Impact of the Pandemic into the Perception of Business Risk through Romanian SMEs Sector," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 22(4), pages 507-518, October.
    • Handle: RePEc:rom:rmcimn:v:22:y:2021:i:4:p:507-518
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    References listed on IDEAS

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    1. Michael Fritsch & David J. Storey, 2014. "Entrepreneurship in a Regional Context: Historical Roots, Recent Developments and Future Challenges," Regional Studies, Taylor & Francis Journals, vol. 48(6), pages 939-954, June.
    2. Marta Fana & Sergio Torrejón Pérez & Enrique Fernández-Macías, 2020. "Employment impact of Covid-19 crisis: from short term effects to long terms prospects," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 47(3), pages 391-410, September.
    3. Jack Blundell & Stephen Machin, 2020. "Self-employment in the Covid-19 crisis," CEP Covid-19 Analyses cepcovid-19-003, Centre for Economic Performance, LSE.
    4. David Urbano & Claudia Alvarez, 2014. "Institutional dimensions and entrepreneurial activity: an international study," Small Business Economics, Springer, vol. 42(4), pages 703-716, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    business environment; small and medium-sized enterprises; COVID-19; business risk; recovery SMEs.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other

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