The Access To Financing Of Small And Medium Enterprises In Romania And Implications Of Current Crisis

The easy access to financing of enterprises in general and of small and medium enterprises (SMEs) in particular is of crucial importance, for it conditions their creation, survival and develop- ment, and, eventually, economic growth and the creation of workplaces. In comparison with large enterprises, SMEs are faced with numerous obstacles when obtaining financing resources, due to the reticence of the financial markets to take risks, as well as to the insufficient guarantees offered to the creditors. The aim of this paper is to analyze the particularities of the financing received by small and me- dium enterprises in Romania in comparison with other EU countries, the implications of the current crisis on the access to financing of small and medium enterprises, as well as the measures adopted by public authorities in order to support these enterprises.