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Small And Medium Enterprises Vulnerabilities In The Current Fiscal Context

Author

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  • MIHĂILĂ, Nicoleta

    (“Victor Slăvescu” Centre for Financial and Monetary Research, Romanian Academy)

Abstract

SMEs in Romania pass through a turning point. They “have acquired" a fragile stability that manifests differently, depending on the size and economic activity sector, or from one region to another. The situation that has been reached is caused, mainly, by entrepreneurs' fiscal obligations to the state and the lack of the state’s policies to encourage , pushing them towards insolvency and high levels of indebtedness. Basically, SMEs are affected by vulnerabilities that prevent them to grow and develop sustainably. In this context, in this paper we intend to highlight the main determinants of SMEs' vulnerability and suggest possible solutions to reduce it within the enterprises activity so that to ensure their financial stability.

Suggested Citation

  • MIHĂILĂ, Nicoleta, 2014. "Small And Medium Enterprises Vulnerabilities In The Current Fiscal Context," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 1(1), pages 210-215.
    • Handle: RePEc:vls:rojfme:v:1:y:2014:i:1:p:210-215
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    More about this item

    Keywords

    SMEs; fiscal obligations; vulnerability; legal and fiscal framework;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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