Business risks in the SMEs from the North East region

Leronard Ovidiu Turcu, Andreea Feraru and Costel Ceocea
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Leronard Ovidiu Turcu: Vasile Alecsandri University of Bacau, Romania
Andreea Feraru: Vasile Alecsandri University of Bacau, Romania
Costel Ceocea: Vasile Alecsandri University of Bacau, Romania

SEA - Practical Application of Science, 2014, issue 3, 618-631

Abstract: The SMEs can easily adapt to the requirements of today's markets which became more and more competitive. The small and medium enterprises provide new opportunities for the employment and on another hand, they directly and indirectly contribute to support the activities of the large enterprises, either as suppliers or as customers. Fast-growing entrepreneurial companies will play an important role in re-balancing the economies all around the world and, therefore, their stimulation is more necessary than ever. Their rapid expansion outlines a growing potential to create jobs at a time when many european countries are facing high unemployment. In addition, entrepreneurship is vital for the future of emerging markets. The vulnerabilities of the SMEs are mainly linked to the decreasing available resources, to the excessive dependence on the entrepreneurs’ financial decisions and to the changing business environment. In order to revive the SMEs sector in Romania there is a need for more rigorous approaches, based on the implementation of business strategies.

Keywords: SMEs; Crisis; Evolution; Risks; Influence factors (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
Date: 2014
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