Munich Personal RePEc Archive

SMEs and Start-Ups. Importance and Support Policies in European Union and Romania

Herte, Anamaria Diana (2017): SMEs and Start-Ups. Importance and Support Policies in European Union and Romania. Published in: Proceedings of the 8th Conference of Doctoral Students in Economic Sciences, December 2017, Oradea No. 5 (2 December 2017): pp. 56-60.

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Abstract

Small and medium-sized enterprises (SMEs) are considered as being the engine of the European economy. They lead to job creation and economic growth, guaranteeing social stability. Nine out of ten enterprises are SMEs, which generate two out of three new jobs. SMEs also stimulate entrepreneurship and innovation, and are therefore very important for boosting competitiveness and employment. Given their importance to Europe's economy, SMEs are a major objective of the European Union's policy. The European Commission has as its major aim to promote entrepreneurship and improve the business environment for SMEs by enabling them to fully realize their potential in today's globalized economy by giving them the opportunity to access funds through various programs. This paper contains some definitions and interpretations of SMEs and start-ups and aims to outline their importance in the contemporary economy as well as their support policies.

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