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SMEs in Romania – some structural issues

SMEs in Romania – some structural issues Ionut Dumitru Chief-economist, Raiffeisen Bank Romania, Professor at Academy of Economic Studies Bucharest March 2015. SMEs play a key role in the economy. SMEs represent about 99.6% of total active enterprises , compared to 99.8% in EU.

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SMEs in Romania – some structural issues

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  1. SMEs in Romania – some structural issues IonutDumitruChief-economist, Raiffeisen Bank Romania, Professor at Academy of Economic Studies Bucharest March 2015

  2. SMEs play a key role in the economy • SMEs represent about 99.6% of total active enterprises, compared to 99.8% in EU. • Almost two thirds of SMEs are concentrated in four sectors: Commerce, Professional activities, Manufacturing and Construction. Source: European Commission, Ministry of Finance, Raiffeisen RESEARCH

  3. …having an important contribution in the creation of value • SMEs account for 44% of total Gross Value Added (GVA), compared to 59% in EU. • Five sectors concentrate almost 70% of GVA: Manufacturing, Commerce, Construction, Professional activities and Transportation. Source: European Commission, Ministry of Finance, Raiffeisen RESEARCH

  4. … and in employment • Two thirds of employees (66.2%) are hired in SMEs, in line with EU (66.9%). • SMEs cover more than half of the staff expenses in the economy. • Three sectors concentrate more than 60% of employment in SMEs: Commerce, Manufacturing and Construction. Source: European Commission, Ministry of Finance, Raiffeisen RESEARCH

  5. Annual turnover distribution Source: European Commission

  6. Regulation and competition are the most pressing problems for SMEs in Romania What is the most pressing problem your firm is facing? Source: Source: European Commission, Annual Report on European SMEs 2013/2014.

  7. Finding customers is the most pressing problem for SMEs in the majority of EU countries Source: Source: European Commission, Annual Report on European SMEs 2013/2014.

  8. Access to finance – also a pressing problem for SMEs How pressing is the Access to finance problem (1 – not at all; 10 – extremely pressing)? Source: Source: European Commission, Annual Report on European SMEs 2013/2014.

  9. Types of financing used by SMEs Relevance of financing types Have you used these sources of financing in the last six months? Source: Source: European Commission, Annual Report on European SMEs 2013/2014.

  10. Important factors for SMEs access to finance What do you see as the most important limiting factor to get this financing? How important are each factor for future financing (1 – not at all; 10 extremely important)? Source: Source: European Commission, Annual Report on European SMEs 2013/2014.

  11. Indatorareatotala (inclusivceabancara) a companiilornefinanciare a ajuns la un nivelrelativridicat, in special pentru IMM-uri… Sursa: Ministerul de Finante, RegistrulComertului, Consiliul Fiscal, BACH database (2011)

  12. … dararavea loc de indatorarebancaramai mare dacacapitalizareaarcreste… Sursa: Ministerul de Finante, RegistrulComertului, Consiliul Fiscal, BACH database (2011)

  13. Doar 40% din IMM-urifac profit si o treime din acestea au creditebancare Sursa: Ministerul de Finante, RegistrulComertului, Consiliul Fiscal

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