PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS
Access to finance for small and medium-sized enterprises has been identified in many studies as the most important factor determining the survival and growth of SMEs in both developing and developed countries. Access to financing means access to working capital to finance current activity, but al...
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University of Oradea
2023-07-01
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| Series: | Annals of the University of Oradea: Economic Science |
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| Online Access: | https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20234.pdf |
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| author | Ioana-Carmen BOZINTAN (COSMA-GULER) Daniel BADULESCU |
| author_facet | Ioana-Carmen BOZINTAN (COSMA-GULER) Daniel BADULESCU |
| author_sort | Ioana-Carmen BOZINTAN (COSMA-GULER) |
| collection | DOAJ |
| description | Access to finance for small and medium-sized enterprises has been identified in
many studies as the most important factor determining the survival and growth of SMEs in
both developing and developed countries. Access to financing means access to working
capital to finance current activity, but also investments and the acquisition of modern
technologies, thus ensuring the competitiveness of SMEs, as well as the performance of the
economy and society as a whole. Governments, through specialized agencies, often in
cooperation with financial regulatory authorities and banking associations, develop various
measures and programs aimed at better access to finance for SMEs. Of course, the
motivations, scope and success of these initiatives are influenced by the level of development
and sophistication of the financial banking sector, by its orientation and composition, by the
way in which the various objectives and needs of small and medium businesses are
understood. The implementation and prioritization of these programs and schemes are
dramatically influenced by the availability of financial and non-financial resources,
organizational skills and, finally, the sincerity and stability of dedicated public policies. This
paper aims to analyze the impact of financial support policies for SMEs, the effects of crises
(economic, financial, pandemic) on these policies, but also the evolution of interest in this
type of support at the level of European companies. We found that government financial
assistance helps SMEs to improve their financial performance and thus be able to access, in
the future, various forms of financing, but also that there are significant differences, by
activity sectors, types of companies and, respectively, countries, in regarding the importance
and impact of public support to the business sector. |
| format | Article |
| id | doaj-art-249ea354223f421fa4a51c3ecf056ca7 |
| institution | OA Journals |
| issn | 1222-569X 1582-5450 |
| language | deu |
| publishDate | 2023-07-01 |
| publisher | University of Oradea |
| record_format | Article |
| series | Annals of the University of Oradea: Economic Science |
| spelling | doaj-art-249ea354223f421fa4a51c3ecf056ca72025-08-20T02:28:27ZdeuUniversity of OradeaAnnals of the University of Oradea: Economic Science1222-569X1582-54502023-07-01321587110.47535/1991AUOES32(1)004PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETSIoana-Carmen BOZINTAN (COSMA-GULER)0Daniel BADULESCU1Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, RomaniaDepartment of Economics and Business, Faculty of Economic Sciences, University of Oradea, RomaniaAccess to finance for small and medium-sized enterprises has been identified in many studies as the most important factor determining the survival and growth of SMEs in both developing and developed countries. Access to financing means access to working capital to finance current activity, but also investments and the acquisition of modern technologies, thus ensuring the competitiveness of SMEs, as well as the performance of the economy and society as a whole. Governments, through specialized agencies, often in cooperation with financial regulatory authorities and banking associations, develop various measures and programs aimed at better access to finance for SMEs. Of course, the motivations, scope and success of these initiatives are influenced by the level of development and sophistication of the financial banking sector, by its orientation and composition, by the way in which the various objectives and needs of small and medium businesses are understood. The implementation and prioritization of these programs and schemes are dramatically influenced by the availability of financial and non-financial resources, organizational skills and, finally, the sincerity and stability of dedicated public policies. This paper aims to analyze the impact of financial support policies for SMEs, the effects of crises (economic, financial, pandemic) on these policies, but also the evolution of interest in this type of support at the level of European companies. We found that government financial assistance helps SMEs to improve their financial performance and thus be able to access, in the future, various forms of financing, but also that there are significant differences, by activity sectors, types of companies and, respectively, countries, in regarding the importance and impact of public support to the business sector.https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20234.pdfsmefinancial institutions;financial support polices |
| spellingShingle | Ioana-Carmen BOZINTAN (COSMA-GULER) Daniel BADULESCU PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS Annals of the University of Oradea: Economic Science sme financial institutions; financial support polices |
| title | PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS |
| title_full | PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS |
| title_fullStr | PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS |
| title_full_unstemmed | PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS |
| title_short | PUBLIC POLICIES TO SUPPORT SMES’ ACCESS TO FINANCING: BETWEEN CHALLENGES OF CRISES AND THE FUNCTIONING OF MARKETS |
| title_sort | public policies to support smes access to financing between challenges of crises and the functioning of markets |
| topic | sme financial institutions; financial support polices |
| url | https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20234.pdf |
| work_keys_str_mv | AT ioanacarmenbozintancosmaguler publicpoliciestosupportsmesaccesstofinancingbetweenchallengesofcrisesandthefunctioningofmarkets AT danielbadulescu publicpoliciestosupportsmesaccesstofinancingbetweenchallengesofcrisesandthefunctioningofmarkets |