EU report: Romania’s SMEs haven't yet recovered from the financial crisis

EU report: Romania’s SMEs haven’t yet recovered from the financial crisis

Romania’s small and medium enterprises (SME) didn’t recover following the financial crisis as their employment is still bellow the level reached in 2008 and the number of major deals involving SMEs is negligible, according to the annual report on European SMEs released by the European Commission.

EU-wide developments of SMEs are not evenly reflected in member states. In six member states the 2017 level of SME value added was still below its 2008 level (Croatia, Cyprus, Greece, Italy, Portugal and Spain).

“In 15 Member States the SME employment level in 2017 did not reach its 2008 level (Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, France, Greece, Ireland, Italy, Latvia, Lithuania, Portugal, Romania, Slovenia and Spain),” the report says.

In terms of value of venture capital deals in EU-28 member states in 2015-17, Romania ranks 26^th in the EU, with 8 deals of around EUR 10 million, below Bulgaria or Malta.

Romania ranks last in the EU in terms of number of SMEs per 1,000 inhabitants, with 29 SMEs/1,000 inhabitants, compared with 55 in Bulgaria or 57 in Hungary, according to the report.