CHALLENGES FOR THE ROMANIAN SMEs ON THE LABOUR MARKET

Madalina Popescu, Amalia Cristescu and Ana-Maria Gatea

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2020, vol. 14, issue 1, 497-505

Abstract: This paper aims to investigate how companies react to various changes in fiscal and wage policies. Empirical evidence is provided for the case of Romania, using quantitative statistical analysis on survey data. The survey was conducted in November 2019 by the National Scientific Research Institute for Labour and Social Protection upon around 1200 Romanian SMEs. Through this paper, we show how companies reacted to the legislative changes that took place at the beginning of 2018, the most important being the increase of the minimum wage, the transfer of social contributions from employer to employee and the reduction of income tax from 16% to 10%. Finally, we share some insights about potential challenges the business environment might be facing in the near future.

Keywords: minimum wage; fiscal policy; SMEs strategies; personnel changes; business environment (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:14:y:2020:i:1:p:497-505

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