Factors Affecting the Performance of Small and Medium-Sized Enterprises in Romania
Small and medium-sized enterprises, as a main element of any economic system, have a significant influence on durable development of a state. Moreover, it becomes clearer that SMEs have gained a significant role in terms of employment, development of innovation and wealth creation. However, in many cases, enterprises face problems and, as a result, some perform dismally and fail to grow while others end up to bankruptcy. Given the high failure rate, it is of big interest to research the factors that may enable the SMEs to survive and develop up to the point they perform. The growth of an economic entity is in dependence with multiple factors, of which identification and evaluation is determinant for any proper appreciations of enterprise’s future perspectives. The objective of this paper was to examine the factors affecting business success of small and medium-sized enterprises listed in Romania such as management experience, access to infrastructure, access to finance and access to relevant information in affiliated sector of activity. Thus, the paper aimed to highlight the factors that impact enterprise’s achievements and to stress out the importance of entrepreneur’s attitude towards the influence of such factors on performance of the enterprise.
 ***. European Commission. Annual Report on European SMEs 2015/2016. 2016
 Cragg P. B., & King M. Organizational Characteristics and Small Firm’s Performance Revisited, Enterprise Theory and Practice.
 ***. Commission recommendation concerning the definition of micro, small, and medium-sized enterprises (2003/361/EC), Official Journal of the European Union, L 124/36, 20 May 2003
 Deakins D., & Freel M. Entrepreneurial Education and the Growth Process in SMEs 1998
 Hashim M. K. A Proposed strategic framework for SMEs' success, Malaysian Management Review.2000
 Kotey, B, & Meredith, G. Relationship among owner/manager personal values, business strategies, and enterprise performance, Journal of Small Business Management. 1997
 Purcarea, I., & Stancu, I. The influence of R&D Policy on Performance of the Companies Listed with Bucharest Stoch Exchange (through Intangible Assets), Theoretical and Applied Economics, AGER, Vol 11. 2008
 Moyi E. An analysis of the information-search process in micro and small manufacturing enterprises. 2000
 King, Kenneth, Simon McGrath. Globalisation, Enterprise and Knowledge: Educational Training and Development 2002
 Deadtick, D., Bennett, N. & Russell, C. Using hierarchical linear modelling to examine dynamic performance criteria over time. 1997
 Larson C. M., & Clute C. R. (1979) The Failure Syndrome. American Journal of Small Business 1979
 Martin G. & Staines H. Managerial competencies in small firm, Journal of Management Development. 2008
Copyright (c) 2018 LUMEN Proceedings
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Selection and peer-review under responsibility of the Organizing Committee of the conference.
This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.