Encouraging the Entrepreneurial Spirit in Southern Muntenia Region

Abstract

Given the growing importance and the visible impact of entrepreneurship on wealth creation and job creation, we considered it essential for Romania to promote and develop such research. We are committed to this study for explore the factors that have advanced the entrepreneurship in Romania as well as other factors that could encourage and even further increase more this concept. As such, the development of Entrepreneurship in a particular environment does not depend on one imperative factor, but rather on a "constellation of factors" at individual, social and national levels. Entrepreneurship depends on individual motivations and experiences, socio-cultural (including family) traditions, educational opportunities, relevant skills and attitudes, financial support through access to optimal credit, support through an efficient transport and communications facilities, macroeconomic environment and the national policy stability. It is also known that innovation and entrepreneurship are best developing in decentralization systems, by people who are willing to face and explore new ideas and deal with exogenous influences. Taking into account the key role in creating value for entrepreneurship, the methodology adopted for the preparation of this article, it's based on the one-to-one interviews with 80 entrepreneurs from different entities, as well as gathering of information received from consultations with other relevant stakeholders within the entrepreneurship ecosystem (such as educational institutions, financial communities, chambers of commerce, business associations etc.) in the South Muntenia region.