Entrepreneurship has started to receive attention together with the problems brought by the global financial and economic crisis and tends to be associated with economic development and well-being of society. The objective of this paper is to conduct an analysis of the Romanian entrepreneurial ecosystem and the factors that have the power to stimulate it, thus allowing the design of effective policies for the development of Romanian entrepreneurship. Development of the present paper has been carried out through the analysis of the Romanian entrepreneurial ecosystem in using data supplied by the Global Entrepreneurship Monitor 2013 and European Commission. Contrary to general opinion, entrepreneurship is appreciated in Romanian society and Romania is among the first European countries when it comes to the way entrepreneurship is regarded in society. [ABSTRACT FROM AUTHOR]
ENTREPRENEURSHIP, GROSS domestic product, ECONOMIC development, BUSINESS enterprises
Abstract
Entrepreneurship should be promoted as a serious alternative for the classical professional career. In Romania the SMEs fail to contribute significantly to the formation of the gross domestic product and to economic growth, as long as there isn't a sufficiently large number of firms and a favorable framework for their the establishment and growth. Taking into consideration the low level of entrepreneurship development from Romania comparing with EU, the Romanian State should promote entrepreneurship in school, entrepreneurial education being vital for the formation of skills and entrepreneurial behavior in Romanian society. Government policies should stimulate the competitiveness of SMEs on the long run, taking into consideration the major deficit of competitiveness the SME sector in Romania has compared to SMEs in the European Union. The present paper tries to present and analyze the current state of development of entrepreneurship in Romania and on the basis of the analysis to formulate a number of conclusions and recommendations concerning its development. [ABSTRACT FROM AUTHOR]
SMALL business, BUSINESS enterprises, ECONOMIC development, LABOR productivity, ENTREPRENEURSHIP
Abstract
The article focuses on enhancing the role of SMEs in Romania as a growth factor. It examines the role of SMEs especially in increasing value added and labor productivity in EU. The paper pays special attention to the principles underlying the Small Business Act and to the importance of entrepreneurship development as a source of new jobs. In conclusion, the number one priority in Romania is to facilitate the finance access for SMEs. Without SMEs access to adequate funding and no liquidity, no business can operate, invest and grow. This means ensuring financial market stability and strengthening banks, while ensuring that credit policy is focused on stimulating SME development. Another top priority for the development of SMEs sector in Romania is to increase innovation and youth entrepreneurship. Last, but not the least the top priority for developing SMEs as driving force of Romania economic growth is to promote SMEs internationalization. [ABSTRACT FROM AUTHOR]
ECONOMIC development, ECONOMIC competition, SMALL business, INNOVATIONS in business, INFORMATION & communication technologies
Abstract
The Romanian leadership is the one which can help to identify a new model of economic growth based on the emphasised areas' development, areas which have shown their potential and competitiveness. Such a growth model would be based on the orientation of SMEs in Romania towards the foreign markets by producing innovative goods and services and by attracting the foreign investment in areas such as energy, tourism, health care, information technology and communications (ICT), etc. It is also necessary to encourage the private initiatives and increase their competitiveness by help of Romanian entrepreneurs and managers. [ABSTRACT FROM AUTHOR]
Published
2014
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