IDEAS home Printed from https://ideas.repec.org/a/rau/journl/v4y2009i3p187-198.html
   My bibliography  Save this article

CHALENGES FACED BY EU SMEs IN THE CONTEXT OF THE GLOBAL ECONOMIC CRISIS

Author

Listed:
  • Sorin Visinescu

    (Academy of Economic Studies)

  • Dan Micuda

    (Constantin Brancoveanu University)

Abstract

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
    as

    Download full text from publisher

    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/FA09/REBE-FA09-A16.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Oecd, 2006. "The SME Financing Gap: Theory and Evidence," Financial Market Trends, OECD Publishing, vol. 2006(2), pages 89-97.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bernardo A. Huberman & Fang Wu, 2008. "The Economics Of Attention: Maximizing User Value In Information-Rich Environments," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 11(04), pages 487-496.
    2. Jaaskelainen, Mikko & Maula, Markku & Murray, Gordon, 2007. "Profit distribution and compensation structures in publicly and privately funded hybrid venture capital funds," Research Policy, Elsevier, vol. 36(7), pages 913-929, September.
    3. Kata, Ryszard & Walenia, Alina, 2015. "Financial Exclusion Of Farmers And Rural Entrepreneurs," Journal of Agribusiness and Rural Development, University of Life Sciences, Poznan, Poland, vol. 36(2).
    4. Yot Amornkitvikai & Charles Harvie, 2018. "SOURCES OF FINANCE AND EXPORT PERFORMANCE: EVIDENCE FROM THAI MANUFACTURING SMEs," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(01), pages 83-109, March.
    5. Faisal Buyinza & John Mutenyo & Anthony Tibaingana, 2018. "Factors Affecting Access to Formal Credit by Micro and Small Enterprises in Uganda," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 4(4), pages 405-424, October.
    6. Helen McGrath & Tom O’Toole, 2014. "Chapter 19: The Challenges and Opportunities in the Development of Rural Small-To-Medium Sized Enterprises," Chapters from Rural Economic Development in Ireland, in: Rural Economic Development in Ireland, edition 1, chapter 19, Rural Economy and Development Programme,Teagasc.
    7. Ellitsa Dalampoura & Michael Polemis, 2021. "On the Importance of Financial Instruments to Facilitate Growth," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 71(1-2), pages 73-91, January-J.
    8. Békés, Gábor & Muraközy, Balázs, 2012. "Magyar gazellák. A gyors növekedésű vállalatok jellemzői és kialakulásuk elemzése [Hungarian gazelles: what makes a high-growth firm in Hungary?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 233-262.
    9. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2019. "European Small Business Finance Outlook: December 2019," EIF Working Paper Series 2019/61, European Investment Fund (EIF).
    10. Bhavani, T.A. & Bhanumurthy, N.R., 2014. "Financial Access - Measurement and Determinants: A Case Study of Unorganised Manufacturing Enterprises in India," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 49(1), pages 85-108.
    11. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2018. "European Small Business Finance Outlook: December 2018," EIF Working Paper Series 2018/53, European Investment Fund (EIF).
    12. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2019. "European Small Business Finance Outlook: June 2019," EIF Working Paper Series 2019/57, European Investment Fund (EIF).
    13. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2020. "European Small Business Finance Outlook 2020: The impact of COVID-19 on SME financing markets," EIF Working Paper Series 2020/67, European Investment Fund (EIF).
    14. Zdeněk Toušek & Barbora Malinská & Martin Prokop & David Procházka, . "The Effect of Financial Leverage on Operating Performance: Evidence from the Czech Republic," Prague Economic Papers, Prague University of Economics and Business, vol. 0.
    15. Mazhindu Kenneth & Mafuba Grayzina, 2013. "The Adoption of International Financial Reporting Standards for Small to Medium Enterprises in Zimbabwe," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 3(11), pages 2315-2349, November.
    16. Alessandro Barbera & Áron Gereben & Marcin Wolski, 2022. "Estimating conditional treatment effects of EIB lending to SMEs in Europe," BIS Working Papers 1006, Bank for International Settlements.
    17. Philippe Aghion & Thibault Fally & Stefano Scarpetta, 2007. "Credit constraints as a barrier to the entry and post-entry growth of firms [‘Dualism and macroeconomic volatility’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 22(52), pages 732-779.
    18. Tieguhong, Julius Chupezi & Grouwels, Sophie & Ndoye, Ousseynou & Mala, Armand William & Fokou Sakam, Ignace & Useni, Marcel & Betti, Jean Lagarde, 2012. "Financial status of small and medium scale enterprises based on non-wood forest products (NWFP) in Central Africa," Forest Policy and Economics, Elsevier, vol. 20(C), pages 112-119.
    19. Adjei Gyamfi Gyimah & Annette Serwaa Agyeman, 2019. "A Study on How Development Finance Institutions Support SMEs: A Case Study of International Finance Corporation," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(2), pages 27-35, April.
    20. Amornkitvikai, Yot & Harvie, Charles, 2016. "The Impact of Finance on the Performance of Thai Manufacturing Small and Medium-Sized Enterprises," ADBI Working Papers 576, Asian Development Bank Institute.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rau:journl:v:4:y:2009:i:3:p:187-198. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alex Tabusca (email available below). General contact details of provider: https://edirc.repec.org/data/ferauro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.