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Overview on Romania’s small bussines act profile in 2015

Author

Listed:
  • Codruța Dura

    (University of Petroșani, Romania)

  • Imola Drigă

    (University of Petroșani, Romania)

Abstract

The paper dwells upon the current position of SMEs in Romania's economy, starting with the implementation the new Small Business Act (SBA), concept made operational at the level of the European Committee. The main purpose which drove the decision to develop this tool, resides in making it easier to understand the newest trends in each member of the European Union, and based on these, to develop appropriate measures of public policies for SMEs. In 2015, Romania’s SBA overall performance continues to be lower than the EU average. Still, the Romanians are proficient in entrepreneurship, where they have gained the lead amidst the EU countries. On the other hand, the weakest results displayed by the Romanian SMEs refer to the domain of skills and innovation. The paper also highlights several areas in which Romania achieves levels of performances comparative to their EU competitors: responsive administration, state & aid public procurement, access to finance and the attitude of the population with regard to granting of a “second chance” for entrepreneurs who have already registered a bankruptcy. Low - level ranks are obtained in the matter concern towards environment, the connection to the single market and the degree of internationalization.

Suggested Citation

  • Codruța Dura & Imola Drigă, 2015. "Overview on Romania’s small bussines act profile in 2015," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 15(2), pages 37-44.
    • Handle: RePEc:pet:annals:v:15:y:2015:i:2:p:37-44
    as

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    File URL: https://www.upet.ro/annals/economics/pdf/2015/part2/Dura-Driga.pdf
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    References listed on IDEAS

    as
    1. Ovidiu NICOLESCU & Ciprian NICOLESCU, 2010. "Coordinates of Policy Concerning SMEs Development in Romania," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(1), pages 5-20, March.
    2. Alina Ligia Dumitrescu, 2014. "Small and Medium Sized Enterprises as the Driving Force of Romania Economic Growth," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(2), pages 49-53, June.
    3. Nițescu Alina & Claudia Isac, 2014. "The Role of Franchising In Entrepreneurial Activity," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 14(2), pages 179-186.
    4. Roman Angela & Ignatescu Valentina Diana, 2010. "Implications of the Current Financial Crisis on SME Sector in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1819-1824, May.
    5. Ovidiu NICOLESCU & Ciprian NICOLESCU & Ana BONTEA, 2010. "Getting out of Crisis of SME Sector," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(2), pages 175-185, May.
    6. Mateescu Mihaela & Suba Gabriela & Glod Alina, 2011. "Financial Tool for SME Competitivity Increase," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1244-1248, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Claudia Isac, 2016. "Facilities Granted to Students for Business Development," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 16(2), pages 37-44.

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    More about this item

    Keywords

    Small Business Act (SBA); entrepreneurship; skills & innovation; the second chance; think small-scale first; responsive administration; state aids & public procurement; access to finance; “single market”;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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