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Access to Finance of SMEs in CEE Countries and Supportive Measures

The Journal of Accounting and Management

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Title Access to Finance of SMEs in CEE Countries and Supportive Measures
 
Creator Roman, Angela; “Alexandru Ioan Cuza” University of Iasi
Rusu, Valentina Diana; “Alexandru Ioan Cuza” University of Iasi
 
Subject SME; access to finance; doing business; CEE countries; reforms
 
Description The access to finance is very important for the proper functioning and development of the enterprises. But, unfortunately, the access to finance is one of the major problems faced by the SMEs from all the European Union countries. Moreover, the recent financial crisis has brought even more challenges for these enterprises, because the deteriorating macroeconomic environmentand the uncertainty about the macroeconomic outlook caused creditors to show a greater reluctance in lending to these enterprises.Thus, the objective of our paper is to analyze the problems faced by the SMEs from ten Central and Eastern European (CEE) countries when trying to obtain the financial resources they need in current times, after the recent financial crisis. Another objective is to highlight the reforms adopted by these countries to sustain SMEs financing.The main findings of our paper are the fact that the current financial crisis had major negative implications on SMEs' access to finance and the measures taken by the decision makers to support lending of these enterprises are not enough, they must extend, in order to achieve a level of the access to finance of SMEs similar to the one in the developed European countries.
 
Publisher The Journal of Accounting and Management
 
Contributor —
 
Date 2016-01-20
 
Type Peer-reviewed Article
 
Format application/pdf
text/html
 
Identifier http://journals.univ-danubius.ro/index.php/jam/article/view/3187
 
Source The Journal of Accounting and Management; Vol 5, No 3 (2015): JAM
 
Language en
 
Rights The author fully assumes the content originality and the holograph signature makes him responsible in case of trial.