An outlook on the competitive framework of Romanian SMEs challenged by the economic crisis

Irina Purcarea

Romanian Distribution Committee Magazine, 2011, vol. 2, issue 1, 40-46

Abstract: SMEs account for over 99% of all European business, proving to be engines of economic growth and employment. Due to the European integration, the competition has increased both on the international and national markets and the quality of the products and services offered to customers are considered to be major factors of competitiveness for SMEs. The SMEs sector in Romania proved to be the most dynamic sector but it was also one of the first sectors to be affected by the global financial crisis, in spite of the defining features of SMEs such as dynamism, flexibility, innovative spirit, client orientation or capacity to adapt that were not enough to resist the powerful impact of the crisis. The main challenges most SMEs in Romania have to cope with as a result of the economic-financial crisis are sudden rises in the prices of raw materials, energy and food, liquidity and credit related problems, a marked decline in the demand for products and services, considerable variations in the exchange rate, and inflation. The article approaches the competitive framework of SMEs in Romania amid the economic-financial crisis, by looking first of all at the current situation of the SMEs sector since Romania joined the European Union, followed by an analysis on the way in which SMEs in Romania have been affected by the crisis

Keywords: SMEs; competitive framework; economic crisis (search for similar items in EconPapers)
JEL-codes: L25 L26 M13 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://crd-aida.ro/RePEc/rdc/v2i1/8.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rdc:journl:v:2:y:2011:i:1:p:40-46

Access Statistics for this article

More articles in Romanian Distribution Committee Magazine from Romanian Distribution Committee
Bibliographic data for series maintained by Theodor Valentin Purcarea ( this e-mail address is bad, please contact ).