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Access to finance

Romania


				Romania

Summary

According to the Small Business Act (SBA) Fact Sheets, Romania’s SME sector was hit hard by the global recession of 2008-2009. It then experienced a brief recovery, but lost momentum in 2012. In 2013 and 2014, steady growth is forecast: SMEs are expected to return to pre-crisis levels in terms of their number and employment, though not yet value added. Romania’s SME sector is dominated by small and medium-sized enterprises, with fewer micro firms. Overall, Romania’s statistics for SMEs are below average and its SBA profile has changed little. The country’s performance is below par for seven out of nine SBA principles and is above average only for ‘Entrepreneurship’, albeit there by a large margin. One of the important measures announced for 2013 is a new law on SMEs, fully incorporating the European SBA initiative. In 2012, only a few new measures in the areas of the single market, state aid and public procurement, the environment and internationalisation were actually introduced. Overall, it is acknowledged that the economic crisis and general instability have severely hampered progress on SME policies.

Key indicators on access to finance
SMAF
SMAF gif - 19 KB [19 KB]

Romania ranked 21st out of 27 countries in the 2012 SMAF Index.

For details on SMAF index and methodology please click here.

Download data excel12book - 593 KB [593 KB]

Loans
Loans gif - 36 KB [36 KB]

Source: Chart compiled using ECB data

Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).

Download data excel12book - 69 KB [69 KB]

Guarantees
Guarantees gif - 35 KB [35 KB]

Source: Chart compiled using AECM data

Download data excel12book - 48 KB [48 KB]

Venture capital
Venture capital gif - 32 KB [32 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

 

Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs pdf - 397 KB [397 KB]

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