Small and medium-sized enterprises (SMEs) play a key role in shaping Europe's economy, providing more than two thirds of private sector employment and representing an important factor of economic growth.
They have a crucial importance to every country's economy as employers and sources of innovation.
During the discussions between authorities and investors at the roundtable organized today by the Foreign Investors Council, the measures identified for supporting the SMEs sector were pointed out.
The Foreign Investors Council advocates for government policy and regulation to support Romanian SMEs development by facilitating, amongst other things:
- SMEs' access to risk capital by setting up venture capital funds
- Setting up business angels networks
- Creating a decentralized system of regional guarantee funds to support and improve SMEs access to finance
- Adequate capitalization of National SME Loan Guarantee Fund (FNGCIMM)
- Adequate capitalization of Romanian Counter Guarantee Fund (FRCG)
- SMEs' access to co-guarantee or counter-guarantee European schemes
- Creating new local/regional business structures to support the SMEs innovation activities, and supporting the existing ones to operate successfully
- The establishment, development and operation of the business support structures network
- Integrating entrepreneurship as a key part of the curriculum at higher education level; campaign for the public to educate itself and understand the financial terminology
- Stimulating creativity of students by rewarding their entrepreneurial ideas (competitions with prizes)
"Small firms in Romania should improve their managerial competencies, the capacity to collect information and technologic base. The Foreign Investors Council (FIC) offers its technical knowledge and experience to support the Romanian Government for further improving SME's access to financing, information infrastructure and international markets," stated Mr. Mihai Bogza, member of the FIC Board.