Factors Affecting the Performance of Small and Medium-Sized Enterprises in Romania

Abstract

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.