ECONOMIC AND SOCIAL IMPACT OF THE YOUNG ENTREPRENEURS PROGRAM IN ROMANIA

Daniela Mitran

Romanian Economic Business Review, 2016, vol. 11, issue 2, 154-160

Abstract: In accordance with the Entrepreneurship 2020 Action Plan, in recent years in Romania there were implemented a series of measures with the aim of creating an environment that is conducive to business development and entrepreneurial education among young people especially. This paper focuses on the economic and social impacts of the Program for the stimulation of establishing and developing micro enterprises by young entrepreneurs (SRL-D) . The Program aims to stimulate and support the development of new firms (start-ups) by facilitating access to funding for young entrepreneurs. In addition to grants awarded to firms set up by young entrepreneurs, a range of other facilities designed to encourage young people to start up a business is also offered. In the period under review there were founded over 17.000 of Limited Liability Companies-debutante (SRL-D), of which 30% have been enrolled in the Program and 15% have received funding and facilities. The creation of over 8,800 new jobs within the SRL-Ds registered in the program has insured the coverage of fiscal facilities granted and has reduced the government spending for unemployment. In order to increase the economic and social impact of the Program, it is necessary to improve it by increasing the funds allocated and to simplify the mechanism for granting funds and guaranteeing credit.

Keywords: entrepreneurship; SRL-D; grants; fiscal facilities (search for similar items in EconPapers)
Date: 2016
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