Strategies of the Development of Entrepreneurship and SME

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usiness is not approaching them often for solving problems in the respective sector and doesnot rely on their support and cooperation.In the last years, the corruption level in Bulgaria is comparable to the corruption level inCentral Europe. Despite the efforts of the Government, the civil society, the business and themass media, a large part of the society continues to believe that considerable results are notyet achieved in the anti-corruption practices. Very serious is the criticism of the EuropeanUnion in that respect. In the EU monitoring report dated 26 September 2006 a conclusion hasbeen made that despite the progress made in combating corruption the latter continues to be aproblem for the country.Among the other problems related to the business environment, the managers of SMEspointed out the tax system.3.3. ROMANIA3.3.1. SME SECTOR DEVELOPMENTRomania’s transition, starting in 1990, was in many respects more difficult than in theother countries of Central and Eastern Europe. This was partly because by the late 1980s, thecountry’s economy was on the verge of collapse after 40 years of rigid central planning thatemphasized self reliance, an excessive focus on heavy industry and large, uneconomicinfrastructure projects. Since 2000, the Government has implemented macroeconomic policieswhich are supportive of growth. Over the last years Romania has made significant progresstowards macro-economic stabilization; rates of economic growth achieved higher values,inflation and interest rates declined steadily, the fiscal deficit was brought under control,foreign exchange reserves increased to historic highs, and the external balance was held tocomfortable levels. Export growth remained vigorous, fuelled by private investment and theinitial competitive depreciation of the currency. The competitiveness of the enterprise sectorwas boosted by productivity gains.As a result of greater political and economic stability and of the implementation ofeconomic reforms, the investment climate has started to improve and international investorsare looking at the region with a much more positive attitude, seeing Romania as a possibilityfor increasing their trade on the regional market. The Romanian Government recognized andthe importance of the SME Sector as the basis for establishing and developing a modern,dynamic knowledge-based economy and supported its development through GovernmentalStrategy for Sustaining the Development of Small and Medium-sized Enterprises in 2004-2008.The priorities of the Romanian Government in support of SME development in the period 2004-2008 are:Priority A: Creating a business environment supportive to SME establishment anddevelopment through:• Improvement of the regulatory framework and elimination of administrative andtechnical barriers• Development of the institutional capacity of NASMEC• Improving the public - private dialogue with SME representative organisations and otherrelevant stake holders.Priority B: Developing SME competitiveness through:• Supporting innovation and improving the access of SMEs to new technologies• Supporting the introduction of quality standards and quality management systems• Promoting e-business40
• Facilitating access to the available assets of state owned enterprises and to publicprocurement• Improving access to business support and information services• Supporting business incubators in the productive sector and in the higher added valueservice sector• Supporting the development of industrial parks• Decreasing regional disparities through targeted support to SMEs.Priority C: Improving SME access to finance through:• Improving productive SME capitalization• Sustaining a national network of SME Guarantee Funds development• Financing SME start-ups in priority sectors• Pilot innovative instruments for financing SMEs.Priority D: Improving SME access to external markets through:• Stimulating the development of cross-border cooperation and regional businesspartnerships• Improving the access of SME to external markets• Promoting an entrepreneurial culture and strengthening management performance• Developing an entrepreneurial culture• Training and consultancy services for managers and entrepreneurs.The following data role represents some indicators of SME sector in Romanian economy,according to National Agency for Small and Medium Enterprises and Cooperation (NAMSEC),issued in Annual Report on SME sector in Romania 2005:• Number of private SMEs amounts 402.996 (99.7% of total SMEs): 358,242 microenterprises, 36.080 small enterprises and 8,674 medium-sized SMEs.• Share of private SMEs by sector of economy: agriculture 2.8%, industry 13.6%,construction 6.2%, services 77.4%.• Number of employees in private SMEs amounts 2,349,725 (56.6% of total employees):733,230 in micro enterprises, 726,953 in small enterprises and 889,542 in mediumsizedSMEs.• Share of employees in private SMEs by sector of economy: agriculture 3.3%, industry34%, construction 10.7%, services 52%.• SMEs turnover (in million Euros) amounts 65,055.• Labour productivity (as turnover in Euro over employee) amounts 27,686.• Export of SMEs in millions Euro amounts 6,755.• Profitability of SME sector (as ratio net profit over turnover, in %) amounts 4.7: 8.6%for micro, 3% for small and 2.6% for medium-sized enterprises.3.3.2. LEGISLATION AND STEPS OF DOING BUSINESSLaw no 359/2004 of 13 September 2004. (simplifying the official procedures for theregistration to the Trade Registry of natural persons, family associations and legal persons,along with their tax registration and the legal persons’ authorization for operation, amendedand completed through GEO No. 75/2004) simplifies the registration and authorizing procedurein the following sense:• It reduces the duration for issuing the registry certificate and the remarks certificate to3 days and 5 days.• It authorizes the operation of a trading agent based on the latter’s statement thathe/she does not carry out that particular activity or that the requirements stipulated inlegislation for that activity have been met.Law no 300 of 28 June 2004 (authorizing natural persons and family associations whichcarry out independent commercial activities brings in the following:41
Page 4 and 5: 1. SME DECLARATION AND WORKING GROU
Page 6 and 7: While comparing the BSEC and EU doc
Page 8 and 9: cooperation with the United Nations
Page 10 and 11: GENERAL ASSESSMENT OF THE BSEC WG O
Page 12 and 13: “Armenia's new law introduces a n
Page 14 and 15: (iii)Share of the labor force of SM
Page 16 and 17: The following data represents some
Page 18 and 19: RankDocuments for export(number)Tra
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Page 22 and 23: 3.1.4. FINANCING SMEsProf. Dr. Sela
Page 24 and 25: • the loan is secured with movabl
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Page 28 and 29: introduction of e-signatures, only
Page 30 and 31: The Code of Conduct for Civil Serva
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Page 34 and 35: as with all non-governmental organi
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Page 38 and 39: • Project BG 2004/016-711.11.04 -
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Page 44 and 45: The preparatory project of the NDP
Page 46 and 47: • To support participation in eco
Page 48 and 49: In 2004, the National Institute of
Page 50 and 51: Incubators host on average 11 SME,
Page 52 and 53: Programs. The program is implemente
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Page 56 and 57: accounting standards, including med
Page 58 and 59: corporations and open held corporat
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Page 62 and 63: • for unemployed (micro credit)
Page 64 and 65: are private pension funds, broker h
Page 66 and 67: very early steps of its democratic
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Page 70 and 71: economy. The so called in the organ
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Page 78 and 79: Technological:Internetaccessibility
Page 80 and 81: Domesticdemand• Still not many pe
Page 82 and 83: international investments• Govern
Page 84 and 85: 3. Hamel, G., Prahalad, C.K. (1994)
Page 86 and 87: 5.2 DEVELOPMENT OF THE SME SECTOR I
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Index of SME Development in Armenia
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The same problem exists in getting
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SME support infrastructure in Armen
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5 million was provided by UNDP and
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5.3 DEVELOPMENT OF THE SME SECTOR I
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Diagram 1. The number of small ente
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The privatization process of object
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13.Cabinet Provision on “Distribu
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5.3.3. SME support infrastructure i
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The role of the state in technical
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General situation of credit marketT
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After creation and starting impleme
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At the meantime, small enterprise s
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Table. 32.Ease of businessDoingBusi
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people who start small businesses t
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are salaried and the medium - sized
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Technology Foresight in Greece 2001
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Greek VC market started to develop
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In the area of bankruptcy and restr
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enterprises. According to TURKSTAT,
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small size enterprise or micro ente
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industrial enterprises. Undersecret
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individuals, rather than well struc
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7. SUGGESTIONS FOR THE SME DEVELOPM
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Annex 1.MAP OF THE BLACK SEA COUNTR
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17-18 June 2005 1 st Moscow Interna
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ARMENIASTRENGTHS• Application of
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BULGARIASTRENGHT• Flexibility and
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GREECESTRENGHT• They have a vital
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ROMANIASTRENGHTWEAKNESS• Stabilis
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REPUBLIC OF SERBIASTRENGHT• Longe
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UKRAINESTRENGTHS• Well educated l
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In compliance with the Resolution m
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1. Please provide definition of SME
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7. Did you establish a dedicated bo
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11. Do you have any suggestions for
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