University of OradeaFaculty of History, International Relations,
Political Science and CommunicationSTUDY PROGRAMME: EUROPEAN
STUDIESFORM OF EDUCATION: FREQUENCYSmall and medium enterprises -
the engine of regional development in RomaniaSCIENTIFIC COORDINATOR
Associate professor LUMINITA SOPRONIGRADUATE LUCIAN NEGREAN MARIUS
ORADEA2015ContentINTRODUCTION.....................................................................................................................4CHAPTER
1. Regional development of Romania in the European
context.......................71.1 Definition of
SME....................................................................................................71.2
Micro and Medium
Enterprises.............................................................................81.3
European development
policies..............................................................................91.4
Attracting European
funds...................................................................................12CHAPTER
2. Regional development in Romania - the North West
region......................142.1 Categories of business in
Romania......................................................................142.2
Contribution to regional
development.................................................................15CHAPTER
3. The evolution of small and medium enterprises in
Romania.....................18 3.1 Development of SMEs from the
1990s until present..........................................183.2
Development of European jobs - European funds
advisor................................223.3 Institutions created
to support
SMEs..................................................................253.4
Regional Investment in
Romania.........................................................................28CONCLUSION........................................................................................................................33Bibliography............................................................................................................................36
INTRODUCTION The business environment in Romania is in a continuous
growth and development. There are businesses that fail and business
that enjoy prosperity. In Romania the small and medium enterprises
began to develop private sector in the past decade. In the 90` then
privatization of state companies were a big part of the business
made after fall of communism and the development of the liberal
regime in a democratic society where economic factors are those
which dictate the level of development of the state and the
prosperity of society. The development of the businesses is
contributing the most to the economy of a country, which is the
most important pillar that supports a prosperous economy and
regions, in which the state creates a framework necessary and
appropriate for companies to develop, there is a healthy and
prosperous economy that offer benefits to all, from contractors,
state and citizens of the state. Each state operates after their
policies in term of social, economic, cultural, environmental and
political environment that may be conducive to entrepreneurship, or
policies that impede business development. To make a long and
prosperous development, to attract more investment from investors
and capitalists, the state need to create a framework to represent
business opportunities for the investors. Just to underscore the
importance of the framework created by the state for business
development, will offer a very developed state, example a decade
due absorbing investors worldwide and the biggest multinationals in
the world, which is a very large region of Asia, namely China .
Governments around the world have responded in a variety of
ways. To assist SMEs in particular, policymakers attention has
focused on supporting working capital, easing access to finance,
implementing a better regulation agenda, and encouraging SME
investment in new technologies or markets.
Entrepreneurial environment is the core of any economy of the
XXI century. It is the factor that contributes the greatest
proportion in local development, but even regional and global. The
privatization process started in 1990, and proved to be more
complex and difficult. In the beginning was slow, characterized by
lack of political will, the Romanian mentality inherited from the
old regime, the institutional problems of a slow establishing the
necessary legal framework. Romania's accession to the European
Union implies new challenges for the enterprises of small and
medium category. Challenges that are imposed by the requirements of
the internal market and at the same time creating new development
opportunities through access of SMEs to reimbursable financial
assistance from the Structural Funds. Programs that provides
funding enterprises began to turn their attention to advising and
supporting the newly established enterprises of. For small and
medium-sized enterprises, which are in start stage, the main
problem is access to financing funds. One barrier is the reduced
ability to develop entrepreneurial sphere and limited funds.
Because of this EU is funding middle and small entrepreneurial
programs. European Union since the beginning of its construction
sector looked small and middle as a tool for achieving the goals in
developing countries through economic growth, job creation,
developing stagnant sectors. European Union funding, operational
programs and through European projects are most favorable
opportunities for the business environment in Romania, especially
for business startup type.
The work structure is divided into the following three
chapters:
1) Regional Development of Romania in the European context, the
chapter described the impact they have on regional development
policies of SMEs and the way the EU funds for regional development
and European funds.
2) The second chapter Regional development in Romania - North
West Analyze the importance of economic growth as an indicator for
the development of a region, a competitive economy is the answer
for modernizing and reducing balance of a region.
3) And the third chapter Evolution of SMEs in Romania, after the
fall of Communism describes entrepreneurship and private sector
development, which have difficulties due to lack of experience but
new entrepreneurs and investments occurring in Romania through
various programs and investors.
CHAPTER 1. Regional development of Romania in the European
context 'Category of micro, small and medium enterprises (SMEs) is
made up of enterprises which employ fewer than 250 persons and
having an annual net turnover of up to EUR 50 million and / or
total assets debugger to 43 million ".1.1 Definition of SME Micro,
small and medium enterprises (SMEs) play an essential role in the
European economy. They are a source of entrepreneurial skills,
innovation and job creation. In the enlarged EU of 25 countries,
some 23 million SMEs provide around 75 million jobs and represent
99% of all enterprises. However, they are often confronted with
market imperfections. SMEs often have difficulties in obtaining
capital or credit, particularly in the start-up phase. Their
limited resources may also reduce access to new technologies or
innovation. Therefore, support for SMEs is one of the European
Commission's priorities for economic growth, job creation and
economic and social cohesion."Small and medium enterprises and
micro enterprises (SMEs) are the engine of the European economy.
They are an important source of jobs, contribute to the development
of entrepreneurship and innovation at EU level, thus having a
crucial role in increasing competitiveness and employment levels of
the workforce. The new definition of SMEs, which entered into force
on 1 January 2005, represents a step forward in improving the
business environment for SMEs and aims to encourage
entrepreneurship, investment and growth. This definition was
developed after wide consultation of stakeholders in the activities
of SMEs, which proves that listening to SMEs is a key factor for
the successful achievement of the Lisbon objectives. "An enterprise
carries out one or more activities in one or more places (offices -
local units of the enterprise). Conventionally, businesses are
treated as individuals, authorized individual and family
enterprises carrying out economic activities based on free
initiative law, public institutions and NGOs.1.2 Micro and Medium
Enterprises
In the European Union, the role of small and medium enterprises
(SMEs) remains a fundamental one for the contribution they have to
job creation (66.7%) and contribution to gross value added in the
economy (58.6%). Beyond quantitative arguments, SMEs are an engine
of economic growth because most of them are characterized by
dynamism, flexibility and innovative force, able to quickly grasp
market trends and adapt on the fly to changes in the economy. Also,
entrepreneurship and creativity are valued easier in small firms,
which open new paths to economic and technological progress, SMEs
are the real promoters of innovation and change. In the past five
years, the 23 million SMEs in the European Union (EU) have provided
87.5 million jobs and 80% of new jobs created. In addition, 13% of
SMEs are present in commercial international trade through
activities and internationalization, investment or other forms of
cooperation with foreign partners.
Micro, small and medium enterprises defined by number of
employees and turnover or annual total assets.
A medium-sized enterprise is defined as an enterprise which
employs fewer than 250 persons and whose annual turnover does not
exceed EUR 50 million or whose annual total assets not exceeding 43
million EURO.
A small enterprise is defined as an enterprise which employs
fewer than 50 persons and whose annual turnover and / or annual
total assets not exceeding 10 million.
A microenterprise is defined as an enterprise which employs
fewer than 10 persons and whose annual turnover and / or annual
total assets not exceeding 2 million.
Regional development is a new concept that aims at stimulating
and diversifying economic activities, stimulating investment in the
private sector, contributing to decreasing unemployment and do not
ultimately lead to an improvement in living standards. To be
applied to regional development policy were established eight
development regions, which comprise all over Romania. Each
development region comprises several counties. The development
regions are not administrative-territorial units, have no legal
personality, the result of an agreement between the county and
local.Regional development policy is one of the most important
policies and most complex of the EU, a status that stems from the
fact that its aim of reducing economic and social disparities
between the various regions of Europe, acting on some significant
areas for development such as economic growth and SME sector,
transport, agriculture, urban development, environmental
protection, employment and training, education, gender equality
etc. Designed as a policy of solidarity at European, regional
policy is mainly based on financial solidarity, redistribution a
part of the Community budget contribution made by Member States and
regions to poorer social groups.Through its objective of reducing
economic and social disparities that exist between different
regions of Europe, the SME sector are opening the door to
opportunities for sustainable development through absorption funds.
European funds provide a major contribution to the development of
the SME sector by developing the doors of eligible projects by
business owners. It is a development tool that provides businesses
the opportunity to develop to the next level. 1.3 European
development policies The primary goals of regional development
policy are: reducing regional imbalance, especially by stimulating
balanced development and the revitalization of disadvantaged areas
(lagging behind in development); prevention of new imbalances;
meeting the criteria for integration into the European Union and
access to financial assistance instruments for member states
(structural funds and cohesion); correlate the governmental sector
development policies; fostering interregional cooperation, domestic
and international, that contribute to economic development that is
in accordance with the law and with international agreements signed
by Romania.For Romania, the European funds will continue to be one
of the most important tool that will be used to reduce disparities
and promote economic growth at regional and local level, enhancing
competitiveness and increasing employment, benchmarks of Union
European. It is recognized that these goals possible by providing
an environment conducive to investment, establishment of new
companies or be contributing significantly to the development of
creating new jobs and generating added value. In this context, the
use of structural support for the period 2014 - 2020 the aims are
to create conditions for the improvement and steady development of
business, having as main objectives.In order to support the SME
sector in Romania, the legislation provides a series of concrete
measures directed on the following major areas:
to create a favorable environment founded by their country and
developed country et SMEs by: simplifying administrative
procedures; promote SME access to public services, to the unused
assets to commercial companies ACROSS state, , consulting your
ASSISTANCE;
the area finance development programs;
ACROSS facilities providing economic and financial, fiscal and
banking;
Coordinating, monitoring and evaluation of policies by the
government and the programs to SMEs.
Regional development policy in Romania is based on a number of
key documents, namely the National Development Strategy and its
Implementation instrument - the National Development Plan, drafted
on the basis of regional development plans. Based on them are
created the Operational Programmes (OP) regional and sector
employing, seven major priority axis for regional development in
Romania, as follows: 1. Development of productive sector and
related services, strengthening competitiveness economic activities
and promoting the private sector; 2. Improving and developing
infrastructure; 3. Strengthening human resources potential,
capacity to labor adapt to market requirements and improving the
quality of social services 4. Support for agriculture and rural
development; 5. Protect and improve the environment; 6. Stimulation
of scientific research and technological development, innovation,
communications, information technology and creation of the
information society; 7. Improving economic structure of regions,
supporting regional balanced and sustainable.Regional Development
Plan (RDP) reflects development policies in line with the potential
and needs to region, is a strategic basis to substantiate funding
programs for the period 2014-2020. This also applies to both
external funds (EU) and domestic (national / governmental,
regional, local). This document promotes intra and inter-regional
complementary. Thus, we can say that the Partnership PDR is
equivalent to region, allowing the inclusion of measures and
projects of regional funding programs for the next period (provides
substantiation required for major intervention areas and for
borrowing requirement regional and local interest projects),
regardless of their funding sources (regardless of the operational
program that offers funding opportunities). 1.4 Attracting European
funds Regional development policy is highly instrumental, and its
solidarity Funds (Cohesion Fund and structural funds, the
Solidarity Fund) contributes to the financing of other policy areas
- such as agricultural policy, social policy, environmental policy.
In addition, regional policy is correlated with the EU enlargement
policy, creating special funds for pre-accession Phare (support
fund for economic reconstruction), ISPA (instrument for structural
policies, which prefigures the Cohesion Fund) and SAPARD ( special
program for agriculture) that are available acceding countries and
is supported by their transition to the standards and
organizational structures of the EU. The complex character of
regional development policy is underlined by the way in which it
integrates three of the priorities of EU economic and social
cohesion, extending the principle of subsidiarity and
sustainability.In the period 2014-2020, Romania can contribute to
the development by absorption of European funds: the Regional
Operational Programme 2014-2020 and 2014-2020 Territorial
Cooperation Programmes Source: Ministry of Regional Development and
Public Administration, Regional Operational Programme 2014-2020As
can be seen in tabel1, total funding for Romania in the period
2014-2020 are considerably increased compared to the total amount
Rural Operational Programme, currently being almost double. The
date are gratifying for Romania because it opens many development
opportunity, but only by creating eligible projects wich can be
absorbed buy the SMEs.A tool for absorbing European funds through
which every citizen contributes to the European fund of a member
state of the European Union comprising 28 member states, is VAT.
Total added value to any product or service, the amount of money
that reaches the state budget EU and state grants a percentage. VAT
is the means by which the state participate in collecting funds
from the European Union, which then converts to European funds
which Member States get from development projects. Of course there
is a difference in budget contribution to the absorption of
European funds and funds between countries and this verdict is
defined depending on each state need to develop. For example,
Romania has the advantage in that the contribution of European
funds because is not huge but opportunities for European funds are
very high because it is a country where exists a large imbalances
in regional development. Attracting European funds for opening or
development of SMEs in the private sector is of many types and
depends on the activity of the business. Romania is favored in
European funds for agriculture sectors due to large uncultivated
land surfaces and due to large surface km2. Another sector that has
the advantages of getting older is rural development, namely the
construction of sewerage, roads and bridges sector, which attracts
a growing number of European funds every year because there is a
discrepancy between large urban area and region Countryside.
CHAPTER 2. Regional development in Romania - the North West
regionIn accordance with the current scale of values, economic
growth is the most important indicator for revealing the degree of
development of a region. For this reason, creating a competitive
economy is the key factor in the modernization of the region.2.1
Categories of business in Romania Country-specific economic
structure - determined by its level of development, its evolution
and historical typology of specific regulatory mode of social life
(the impact on public services) - influence the evolution and
importance at a time, the private sector. Romania member state of
the European Union, but the issue of ownership is not fully
clarified. The privatization process has not ended. At the same
time, Romania is now among the countries with has the highest
foreign investment flows and capital structure changes. Therefore
an estimate of the future development of the private sector's
contribution to GDP creation correlated with expected changes in
capital structure is likely to highlight the convergence of
Romanian economy structures in other EU member states and from this
point of view.SMEs are the institutions developed by private sector
entrepreneurs, which offers a significant growth and regional
development, through the taxes they pay to the state due to the
actions they undertake. Private sector business in Romania includes
the following three categories of founding companies: authorized
person (PFA), Small and Medium Enterprises (SMEs) and
multinationals. Following EU accession, the number of multinational
development that have opened branches in Romania increased
significantly, due to the opportunities that have emerged -
especially on the labor market by reducing the cost of
manufacturing and production due to low salaries. 2.2 Contribution
to regional development Ensuring social comfort of citizens should
be the permanent concern and priority of any government, at
whatever level it. To overcome the gap that Romania has for Europe
is needed, based on current administrative - territorial
organization, seeking to devise new ways and forms of action and
decisions to bring public services closer to citizens (on a
European the subsidiaritii1) and determine more efficient use of
existing resources: local resources, government funding and
European programs.Moreover, the importance of regional development
is recognized by the European Union ,, Territorial Agenda 2020 -
towards a smart, sustainable and inclusive growth of Diverse
Regions' (2011) which states: ,, believe that the objectives of the
European Union defined in the "Europe 2020 Strategy for smart,
sustainable and inclusive growth '(COM EC, 2010) can be defined
only if it takes into account the territorial dimension of the
strategy, as development opportunities vary from one region to
another.
As a field, trade remains mostly for SMEs in Romania, with a
share of almost 40% of the total number of firms, while the EU
average is 28%.
Since the beginning of the transition process in countries of
central and eastern Europe, economies have undergone dramatic
changes. Large state companies were privatized and thousands of
employees became unemployed. The changes were particularly dramatic
in countries like Bulgaria, Romania, Slovakia and the Czech
Republic due to lack of private entrepreneurship before the
economic reforms. This could only be offset by creating small and
medium enterprises.
In the context of new policies to revival European industry
highlights another positive aspect of public sector, Romania with
many SMEs in manufacturing, their share exceeded the average for
the UE28 (respectively accounting for 11.9% of the average 9 6% in
the EU). Also, Romania is among the few European countries with
notable achievements in terms of values exceeding pre-crisis
indicators of industrial production in general and the second in
Europe (after the Czech Republic) the share of industry in creating
added value.
The business environment continues to be unstable by the
increasing number of new business initiatives lowest recorded,
along with other economic exiting the market. Startups
registrations fell by 19.6% in first 10 months of 2014 over the
previous year. The annual number of new business registrations
declined steadily from the peak in 2008 of 144 239, with a slight
recovery in 2011 to 124 816 new companies registered in 2013. The
low number of new incorporations mean fewer jobs. In the EU, 85% of
the jobs created post-crisis were provided by startups.
2014 signals the Romanian entrepreneurs reorientation towards IT
and education at the expense of agriculture. Among non-financial
sectors, the most popular sectors for startups in 2014 were
Romanian education, 18.8% more registrations, information and
communications, with 8.94%, and wholesale and retail 5, 38%.
The region where they registered most companies in 2014 was the
area of Bucharest, with 11,648 registrations. In second place is
Cluj Napoca, with 4,074, and Bihar, with 3,468 registrations.
Ranking 2014 registrations companies in Romania
Region
Total registrations
I
Bucharest
11.648
II
Cluj Napoca
4.074
III
Bihor
3.468
The weakest areas in terms of entrepreneurship initiative in
Romania are Covasna, with 552 registrations, and Ialomita, with 674
registrations.
Together with regional development, everyone benefits from this
starting with the individual, social groups, institutions, funds,
companies etc.
Private sector development is reflected by the balance between
the complementary functions of the state and private sector,
balance in relation to the specific and different level of
development of each economy. In a study the World Bank stated that
private sector development is "rethinking the role of the state and
not judicious privatization carried out at random. Government
policies that ensure healthy breathing space for private initiative
and establishes a regulatory framework that directs private
initiative in a way that benefits the whole society is
essential.
Establishing SMEs to operate in a way that provides benefits and
labor market through job creation and by balance on the labor
between supply and demand.
By creating new jobs, increases the percentage of consummation
of the people, the amount of money spent by the population, which
carries a cash flow and cash flow is how much larger and better
controlled and in constant motion with both It is healthier and
prosperous economy.
Healthy and prosperous economy is defined by the circular flow
of money they made to give a framework in which people can consume
and companies produce, between supply and demand by raising the
living standards of the population and the continuous
development.
After joining the European Union Romania has created new jobs in
professional terms, like European funds consultant profession.
European fund advisor has the task of writing projects to absorb
European funds and development to be used for any industry eligible
for regional development funds.
European funds are a very efficient and productive instrument
for the country even for an enterprise (SME) or even for an
individual to develop any field in Romania in particular from the
private sector agriculture and business most interested in these
regional development projects.
Attracting European funds is a challenge for any state since
obtaining funding for projects is needed to create detailed,
realistic and well analyzed from all points of view to be eligible
to the terms provided by the European Commission.
Both before and after the accession of Romania to the European
Union, have intensified discussions on the effects of accession on
business and the real price of accession. European Union membership
has brought the medium and purification of the business environment
and create the competition that will automatically lead to improve
our quality of products offered by companies. The disappearance of
customs barriers, facilitates the import of products from other EU
countries automatically exert pressure on domestic producers. The
integration means an important flow of capital, opening new
markets.
CHAPTER 3. The evolution of small and medium enterprises in
Romania In every region, SMEs are in evidence. They make a huge
contribution to gross domestic product (GDP) and employment. The
global financial crisis of 2008, however, created new challenges
for SMEs. Findings are mixed as to how effectively businesses have
recovered from the crisis and coped with recessionary climates, but
access to finance has been a problem for many.Estimated data for
the 27 countries in the European Union (the EU-27) for 2012 also
illustrate the importance of SMEs. They account for 99.8% of all
enterprises, employ 67% of all workers and contribute 58% of gross
value added (GVA) defined as the value of their outputs less the
value of intermediate consumption and an important factor in
GDP.3.1 Development of SMEs from the 1990s until present
The collapse of communist regimes, which led to the economic
blockade and triggered a large-scale economic crisis in the regions
of eastern and central Europe.
Since 1989 and 1992 in all former communist countries, Europe
now has been a dramatic fall economies, this process is followed by
an explosion of unemployment, a phenomenon that has been absent in
these countries but also a strong inflation.
As noted, SMEs tend to be more intensive on labor and at a macro
level, therefore, provide a substantial contribution to employment.
A World Bank survey of 47,745 businesses across 99 countries
revealed that firms with between 5 and 250 employees accounted for
67% of the total permanent, full-time employment. SMEs were also
creating more jobs than large enterprises. Between 2002 and 2010,
on average, 85% of total employment growth was attributable to
SMEs. Job creation is particularly important for countries that are
plagued by high unemployment rates and in general for developing
and emerging economies. SMEs are key providers of employment in
such countries.
The decline in the economy has increased in the second half of
1990, continuing until 1993. GDP had a permanent decline in the
years between 1990 and 1992, the main areas that have been affected
by the activities in industry, commerce, transport.
Foreign capital in Romania began to emerge reforms started quite
late, but has gained a growing percentage each year.
The privatization process started in agriculture, particularly
in the cooperative system of agriculture. Analyzing distribution
branches of the private sector, the highest level recorded in
agriculture, where it supplies over 95% of gross value added of
this sector, consequence of the fact that the land was returned to
the owners and farms and other state agricultural units s abolished
in the early years of the transition period. In industry, although
the privatization process dragged in some areas (example energy),
there was a significant jump and only 5.7% in 1990, in 1999 the
private sector became the majority shareholder with 53.7 %, and in
2005 to reach over 80% of gross value added in industry.
Construction represents the second field where the private
sector tends to become quasi-majority. The scale on which he met
after 1990 construction activity in the private sector, made it to
increase its share in stride gross value added of the sector, from
about 2 percent in 1990 to 51, 6% in 1994 and about 95% in 2001.
Within services, although the contribution of the private sector
has increased considerably, remains the area with the lowest
compared to other branches. Increasing the share of private sector
in the development of services was primarily the result of the work
of trade, tourism and hotel services, real estate transactions,
financial services - banking and insurance etc.
Note that the share of private sector in the gross value added
in services has lower values than other sectors because of some
categories of services (public administration, education, health)
is mostly public sector. Significant changes have occurred in terms
of its contribution to the achievement of gross value added
industries in the private sector.
An aggregation of all companies that are active and teach
balance sheets reflect an overview of the performance of the
economy. Thus, the correct assessment of the importance of the
private sector in the Romanian economy, but also for its future
development is necessary to analyze the economic results obtained
correlated private sector its share in the share capital in the
economy. The important role played by the private sector in
achieving the GDP, led to the high contribution of this sector to
the GDP, thus strengthening trend in the last period and increasing
its share from 55% in 1996 to 70.4% in 2005. The private sector had
the hardest word to say in most economic sectors, its contribution
to GDP accounting for almost all retail trade, construction and
tourism. In industry, the share of private sector amounted to about
80%, being the result of accelerating economic structural
processes, which helped to increase private sector participation in
industrial production significantly.
The role of SMEs as to main generators of jobs in the European
Union confirms more than ever, at the current juncture marked by
crisis and unstable and unpredictable economic climate.
Furthermore, start-ups and small businesses are considered key
factors for economic recovery and, in particular, to reduce the
negative effects of the crisis on employment in the EU.Source:
NATIONAL INSTITUTE OF
STATISTICShttp://www.insse.ro/cms/files/publicatii/pliante%20statistice/03_2015-Date-statistice.pdf
Analyzing 2014, more exactly the III semester and the IV semester,
we observe an increase in semester III compared with Semester IV,
registring a 1% provide input, which is still an increase in
Romania's GDP higher than the percentage of EU -28 and being very
close to the 0.9% growth of Bulgaria. Also 2014 brings an increase
in GDP for 2013 year in Romania with 2.8% and comparing the 1.3%
EU28 percentage. The largest increase in of GDP is Hungary,
recorded with a percentage of 3.6%. In Romania SMEs have
consistently maintained a significant share of the number of
employees in total employment in the non-financial business sector,
with a value located around 60% annually. Thus, the share has
evolved from 57.5% in 2004 to 62.1% in 2008 and 60.2% in 2010. It
is worth noting that the highest level of this percentage, almost
65% of was reached in 2009, the year marked by profound
restructuring of staff in large companies.The Romanian Government
recognizes and appreciates the importance of SMEs as the basis for
the development of a modern economy, dynamic, knowledge based.
Experience clearly demonstrates that EU SME sector may have a
substantial contribution to gross domestic product, to create new
jobs and boost export growth. SMEs have the ability to respond
flexibly to strong competitive markets and to quickly adapt to
structural changes and cyclical global economy. A well-developed
SME sector can thus support macroeconomic stability and growth.
Small and medium-sized enterprises (SMEs) play an important role
in the world economy and contribute substantially to income, output
and employment. However, the recent global financial crisis created
a particularly tough climate for SMEs, with a reduction in demand
for goods and services and a contraction in lending by banks and
other financial institutions.
Nevertheless, a substantial amount of work has been done to
assess the roles that SMEs play in driving gross domestic product
(GDP) growth and sustaining employment. The evidence suggests that
SMEs are vitally important for economic health, in both high-income
and low-income economies, worldwide.
3.2 Development of European jobs - European funds advisor In the
context of integration, small and medium enterprises (SMEs) are
more exposed to numerous changes in the business environment caused
by economic restructuring. In particular, SMEs will be affected in
areas where the Community acquis requires implementation of
environmental standards, quality, hygiene, food safety, product
safety, labor protection rules.The labor market and achieving
balance between supply and demand depends to a great extent private
sector development namely business development. In 2007 the private
sector in Romania had a very accelerated pace of development but
due to the economic boom and the high debt both individuals and
companies emerged economic crisis. The economic crisis has emerged
in America and spread to the interconnections between countries and
continents globally because of the interconnected economies and
financial fields.
Evidence also shows that when SMEs become international,
particularly when they start exporting to foreign markets, their
contribution to their home economy increases. For this to happen,
substantial barriers need to be overcome. SMEs can face
difficulties in financing international activity, identifying
opportunities and making appropriate contacts in their target
markets.
Romania was affected by the economic crisis and this has been
felt both population and companies by blocking money, which led to
a decreased flow of money circulation. The impact of the financial
crisis and the economic downturn that it entailed was substantial.
Many companies, SMEs included, suffered negative repercussions such
as reduced revenue or were even forced to close down. In the
post-crisis era SMEs in particular have faced challenges in
relation to accessing finance. One effect of recession may have
been to increase the productivity of SMEs. Data for the EU for the
three years from 2008 to 2010 show the negative impact on
enterprise numbers, employment and GVA for SMEs in the immediate
aftermath of the global financial crisis.The labor market has
suffered from the emergence of firms because crisis began to reduce
the number of employees and the percentage of unemployed began to
grow. Unemploymemt produced a state of concern among people because
they have remained without work and without income and this has led
to a problem for credits from banks. Many people have lost both
jobs and homes because the latter were mortgaged to the bank for
credit. This situation created by the economic crisis unfolded in
the context in which Romania joined the European Union in 2007
along with Bulgaria. The period following has brought economic
instability and an imbalance force market. Accession to the
European Union in 2007 brought labor market benefits by allowing
people to move to another EU Member State to work. Source: NATIONAL
INSTITUTE OF
STATISTICShttp://www.insse.ro/cms/files/publicatii/pliante%20statistice/03_2015-Date-statistice.pdf
In the fourth quarter of 2014 (October, November, December) the
terms of employment of persons aged between 20 and 64 years Romania
recorded a share of 65.4% of all people capable of work. The
average of EU28 workforce employed registered a percentage of
69.9%,, slightly above average in Romania, and Czech Republic
records the highest percentage with 74.3% percent. Such free
movement of persons on the territories of the European Union has
facilitated a more efficient movement of citizens for occupying a
job in another state that has benefited the economy. People who
live in one state and work in another country are called frontier
workers. Currently 2015 over 600,000 people working in another
state than the living state. Cross-border cooperation was also an
important factor in achieving balance on the labor market by
developing cross-border projects between companies or institutions.
Cross-border cooperation between two countries is the realization
that has common purpose and collaboration to fulfill its
development. By acceding to the European Union were developed
European jobs and the European funds consultant who brought major
advantage due to the economy and companies from Romania, European
projects that helped create companies to develop and led to both
economic growth regional and national levels. In Romania SMEs have
consistently maintained a significant share of the number of
employees in total employment in the non-financial business sector,
with a value located around 60% annually. Thus, the share has
evolved from 57.5% in 2004 to 62.1% in 2008 and 60.2% in 2010. It
is worth noting that the highest level of this percentage, almost
65% of It was reached in 2009, the year marked by profound
restructuring of staff in large companies. The importance of SMEs
for providing and maintaining jobs will be dealt with in the
sectoral analysis in the next chapter, which shows the percentage
of employees of SMEs in most sectors.Source: National Institute of
Statisticshttp://www.insse.ro/cms/files/publicatii/pliante%20statistice/03_2015-Date-statistice.pdf
The graph above represents unemployment rate in Romania in
percentage, so in January 2014 the unemployment rate was 6.5%, a
year later in February 2015 registering 6.4% and in March 2015 the
percentage share of again to 6.5%. EU28 unemployment rate reach
almost 10 percent, registered a 9.8% percentage in both January
2014 and in the month of February 2015 and March 2015. 3.3
Institutions created to support SMEs The European Union has
provided for the period 2007-2013 a set of opportunities in the
fields of research and innovation, skills development and
competitiveness intrapreneurial global research institutions and
universities. Lines policies of the Member States in the
communities are predicted in the 2007-2013 financial framework
programs, such as:
1. VII Framework Programme for Research. The main instrument
program that supports research, co-Border, ETPs etc.
2. The program on competitiveness and innovation program that
supports the development and innovation, especially for start-up
businesses.
3. Education and training program that offers Member States to
adapt information systems and training for achieving the Lisbon
objectives.
4. The program of economic and social cohesion, the regions
being supported with substantial funds to reduce the structural
gaps.
The vital contribution of SMEs to economic growth is widely
recognized today a reality. Revealing their economic and social
beneficial effects led to consideration of the SME sector as an
area of strategic interest for the economy.
The positive effects arising from the SME sector in general in
the economy is reflected in:
improving the competitive environment; by their small size and
large number of SMEs emphasize the atomicity of the market, thereby
diminishing the power to influence large enterprises; thus, the
ability of SMEs to stimulate competition generally weakens the
monopoly positions of large enterprises, reducing their capacity to
raise prices and to be ineffective in terms of combining factors of
production;
strong individualization of products and services offered by the
SME efficiency and across the activities carried out as which
contributes to intensifying competition;
generating the largest number of new employments; to create
significantly higher number of new jobs, with a cost of capital,
and constituting work the most important alternative to combat
unemployment
Increased responsiveness to market needs contacting them
directly due to this; Best results thus offer their Adaptation to
customer requirements building; moreover, by their specific
flexibility, innovativeness, response speed , SMEs tend to get its
enterprise only compatible with an increasingly complex and
dynamic
the person is creating opportunities for the development and
adaptation of technologies, corresponding for some concrete
needs;
anchoring their local economies by exploiting local resources
(financial, material, labor); by their ability to respond country-
local of requirements by the detailed information on markets, then
the local SMEs will be more effectively work purchasing until
December to large the firms inside or outside localities
across;
development as an important component of the infrastructure on
which the economy;
Developed country stimulation of entrepreneurial of the capacity
across and create a critical mass of entrepreneurship
opportunities, take risks; SMEs insurers excellent ground
manifestation of the talent of its enterprises, a developer of
managerial;
encourage investment, with the household savings source (family,
relatives, friends) or other funds that would otherwise be
unproductive;
better distribution of economic power to offer a general power
for the company, with its positive effects in the plan established
political and social across long term.
3.4 Regional Investment in Romania The main mission of the EIF,
institution owned main European Investment Bank and the European
Commission is supporting European SMEs, supporting their access to
financing. FEI develop tools for venture capital and microfinance
guarantee specific to this market segment. In this regard, the FEI
promotes the objectives of the European Union in support of
innovation, research and development, entrepreneurship, growth and
job creation.Joint European Resources for Micro to Medium
Enterprises ") is a joint initiative of the European Commission (DG
Regional Policy) and the European Investment Bank (of which the
European Investment Fund), which aims to improve access to finance
for SMEs s in the European Union under the Structural Funds for
2007-2013. JEREMIE allows Member States and Regions to devote
national resources and structural funds to create holding funds
("holding funds") that can finance SMEs ln a flexible and
innovative. the new initiative aims at developing and encouraging
entrepreneurship in the European Union. "We welcome the opportunity
to expand access to finance for SMEs in Romania. Through three
financing instruments, JEREMIE creates leverage financial resources
available for Romanian enterprises. At the same time, the new
instrument contributes to ecosystem functioning local funding thus
stimulating and banking activity"At the same time, European
integration is a matter of investment and income. Union membership
brings certain rules impugn a certain quality, the level to be
achieved will need investments that will overcome in most cases
entrepreneurship financing capacity of Hungary and Romania, which
will automatically lead to the exit their market.On the accession
process, it is based on competitiveness because, globally, Europe
has problems competing with the United States and Japan. This
involves significant costs on their investments, but not to be
confused with cost (investment) and property damage. In terms of
costs it covers general is indispensable for process adhere to
learn how to attract European funds available funding. Membership
of the European Union provide access to the Structural Funds and
the Cohesion Fund. Some of these benefits to previously could be
highlighted and accession, including the amount and the positive
effects of inflows of funds through the financial instruments of
accession, as well as other tools and programs developed by the EU
for candidate countries.
Figure 5. Net investments in all economic activities in 2015
Source: NATIONAL INSTITUTE OF STATISTICS
http://www.insse.ro/cms/files/publicatii/pliante%20statistice/IMM-2014.pdf
3.5 The Romanian economy within the EU and "2020 Europe
strategy"
The European economy is characterized by significant disparities
in the Member States. Measured by GDP per capita, the differences
between countries are important, with ranges from 271% for
Luxembourg to 47% for Bulgaria, the EU-28 in 2012. Major EU
economies are close to average, but recorded contrasting
developments , up to 121% Germany (from 115% in 2002), but
decreased for the majority of the other, The Netherlands 128% (from
133%), UK 110% (for 120%), France 108% (from 116%) and Italy 98%
(to 112%) of 5. In this context, Romania has managed to constantly
improve their position relative to other EU Member States, from a
level of GDP per capita by 29% in 2002 to 49% in 2012 of the
European average (EU 28), but not so fast as to avoid the status of
least developed country, ranking second to last in the ranking.
However, after assessing the European Commission, Romania is
classified among the countries that come along, along with
Bulgaria, Czech Republic, Poland, Hungary, Slovakia, Latvia and
Lithuania, a position which sets the general context of competition
policy for the next period.
Improving the competitiveness of SMEs is a key area of
intervention given that SMEs represent over 99% of all enterprises
active in the Romanian economy, with a decisive contribution to
national gross value added at creating jobs and ensuring cohesion.
National Competitiveness Strategy Development must focus on
capitalizing the potential competitive industries and services,
attracting SMEs in the chain of value creation, promoting
technological innovation and support the internationalization of
SMEs, in complementary with government strategy for SME development
in Romania horizon 2020 Research and Innovation Strategy and
National Export Strategy 2014-2020, to the logic of supporting a
long-term vision on competitiveness.
The strategy "Europe 2020" - overall objective of this strategy
is to transform the EU into a smart, sustainable and inclusive
growth, to provide high levels of employment, productivity and
ensure economic, social and territorial cohesion. The three
priorities set out in this strategy are:
Smart growth
Sustainable growth
social inclusive growth.
In accordance with the principles of implementing the Common
Strategic Framework 2014-2020, Romania will have to achieve a
decisive transition to financial instruments for SMEs to support
innovation, ensuring the provision of start-up capital, guarantees,
loans, mezzanine capital and initial capital to support SMEs.
In the next programming period, ERDF funding can cover the
actions of creating an entrepreneurial culture, commercial
exploitation of new ideas and research results, business advisory
services, developing new business models, organization of marketing
activities, especially for internationalization, support
investments in high technology products and services in the
integration of SMEs into the supply chains and clusters and
improving their access to finance, including through the
development of financial instruments to support innovative
firms.
Additionally, EAFRD and EMFF funding can be directed to
providing support for the restructuring of farms facing major
structural problems, aid for young farmers to start its work,
integration of primary producers in the food chain, effective
management of financial risks and those related medium enterprise
development, introducing new products, services, technologies and
improving market organization in fishery and aquaculture
sectors.
We know that SMEs with greater internationalisation tend to
report higher turnover growth. There is also other evidence that an
international outlook is good for business. More than 50% of EU
SMEs that invested abroad and that were involved in international
subcontracting reported increasing turnover from 2007 to 2008,
compared with 35% of all SMEs .
Source: Edinburg group, Growing the global economy through
SMEs
The immediate impact of the 2008 financial crisis on lending was
dramatic. In many countries in Europe, both inside and outside the
Eurozone, and elsewhere around the world (in Australia and the US,
for example) demand for credit fell and / or businesses reported
finding it harder to borrow funds.
Governments across the world have recognised the challenges
faced by SMEs in the aftermath of the financial crisis. They also
understand the importance of maintaining a vibrant SME sector. It
is no surprise, therefore, that policymakers have adopted a variety
of anti-crisis packages.
Conclusion
To conclude EU accession led to an improvement of the business
environment in Romania, by reducing companies that are active in
the market, which led to the fact that some of them out of the
business of their inability to adapt the competitive environment
and to find sources of funding, and the other part that manage to
adapt thus creating the nucleus of firms capable of operating in
the EU market.
Small and medium enterprises in Romania, is faced with many
problems of bureaucracy, which can be considered to be the main
factor, because it prevents people to open a business.
Entrepreneurship education help to develop the mentality of
entrepreneurs who want to take your business to another level.
Entrepreneurial education is an important factor in the development
of small and medium enterprises, because knowing the information
and applying this knowledge contributes to the development of
enterprises, in a competitive market.
The companies in Romania, with the expansion of multinationals
and foreign investors due seeking to develop business in Romania,
face various obstacles that unfortunately do not know Romanian
entrepreneurs to manage and resolve them and thus Romanian
companies due lack of entrepreneurial education and development
continues weakening competitive market force.
The impact is in both Romanian companies and companies with
foreign capital of Romania, on the development of a modern economy
is very high and in Romania, SMEs are an important pillar
supporting the economy.
Romania's economy is in a period of continuous growth, the
financial crisis of 2008 greatly affected the private sector and
investments in Romania, but in this crisis period there were
investors who saw an investment opportunity because the value of
goods, services and capital has decreased significantly.
Romania joined the European Union in 2007, when the economic
situation was in a very developed stage, the flow of money is very
high, and this time the private sector has exploded, led to a very
sharp fall in the number of firms, with the advent of the
crisis.
The 2008 financial crisis had a negative impact on firms in
Romania, which had to reduce its staff, this leads to instability
on the labor market, increasing unemployment, thus implementing a
continuous agitation , of the society.
This was due to lack of capital to companies, because the flow
of money from the company was not managed properly, and this has
led to a lack of cash, in a period in which fell very much in any
area, sales.
The European Union was a factor savior for small and medium
enterprises in Romania, which were during the integration period,
in a growing, but with the advent of the crisis immediately after
accession, the Union has provided funding programs to support firms
that were in danger through various funding programs.
Currently, private sector occupies the highest percentage of
SMEs in Romania, and the number increases every year established
companies.
With free movement of goods and joining the internal market,
there were both advantages and disadvantages for entrepreneurs but
also for companies. Free movement of opportunity Romanian companies
to develop internationally, to enter the European markets, but at
the same time, and for European competitors, Romania was opening a
new market.
The downside for Romanian companies was the emergence of foreign
companies who were in a higher stage of development, for which many
companies have completed the work, were closed because of their
weaknesses, but those companies that have resisted They were kept
on the market and decided that it is time to improve their products
and services.
Competitiveness is an important and essential to a healthy
economy and economic indices of prosperity.
SMEs contribute to regional development by developing jobs for
individuals in society, such effects are felt in the economy of the
country.
Because entrepreneurship education that begins to take interest
to entrepreneurs and for entrepreneurs of the future in 2015, there
is a tendency to maximize the possibilities of setting up
businesses, such as start-up, by creating opportunities in which
investors to meet with those who want to start a business, they
have a business plan.
Overall, Romania maintains a decent position in Europe, in
business, there are entrepreneurs who are well known in Europe for
their entrepreneurial skills, and developing successful businesses.
These entrepreneurs have acquired various skills in time management
and organizational skills and specific to the business, which had
an important role in their professional ascent.
There is a growing trend growth trends for firms in Romania, as
well as those who are willing to start up a business, a business in
an economy that is in constant growth by developing projects
eligible European to maximize SMEs and through funding from various
programs, Romania has great potential in developing the business
environment in 2020.
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