A NEW VISION OF THE SME DEVELOPMENT IN ROMANIA

The development of SMEs is crucial for the future of Romania despite the background of economic, social and political changes. A dynamic SME sector is needed to ensure continued economic growth and to thereby enable economic development, employment and improvement of living standards. Accordingly, a review of the state of current policies, institutions and incentives to stimulate the sector is required. The main aim of this policy review is to assess the extent of progress in SME develop.ment achieved to date by Romania. Another aim of this paper is to highlight a number of key SME policy areas where the most rapid and effective progress can be made with a focus on regional development. This progress can be facilitated through appropriate actions by the government, non-governmental organizations, the private-sector, and through the application of new, and/or re-allocation of existing, financial resources from both local and international bodies.