Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie (May 2014)
THE DEVELOPMENT OF THE SME SECTOR – FUNDAMENT AND NECESSITY FOR SUSTAINABLE RELAUCHING OF THE ECONOMIC ACTIVITY IN ROMANIA
Abstract
The increase of economic and financial welfare, the creation of new jobs, the assimilation of technological progress, economic, the increase of competitiveness internationally or reducing social inequities are a few aspects that highlight the necessity to stimulate the SME sector Small business sector dynamism is increasingly considered a factor which determine reviving and strengthening economic development. The development of private business medium in Romania has been adversely affected by extreme volatility and low capacity of predictability. To these were also added effects of the economic crisis, resulting in a severe reduction in the number of SMEs and a worsening of performance indicators. In the paper are presented a series of data, providing an overview of the SME sector in Romania and its contribution to the achievement of the economic growth process in the medium term. The research realised at the level of this important component of the economic environment has revealed that in Romania there are manifested a number of issues regarding the level of productivity, the profitability, contribution to gross value added and competitiveness on external plan. An analysis of economic and financial performance indicators (turnover, gross investments, gross value added, gross result of the exercise) at the level of SMEs reflects the recording of negative values after 2008, which demonstrates once again the fragility of the economy in the face of major events but also the impact of the measures promoted by the government, the effects being very often contrary to those expected. The conclusions drawn from the study highlights the need to support the SME sector to ensure a sustainable economic growth and the stimulus measures differences by categories, activity sectors and growth rhythm.
