The Financing of Innovative SMEs - a Solution for Increasing the Competitiveness of the Romanian Economy on Global Markets

Unlike large enterprises, SMEs, especially innovative ones, face increaseddifficulties in the attempt to obtain financing due to the specificity of their activity.This situation calls for the involvement of the state by means of polices aiming atproviding support to this sector, and especially in order to encourage innovation,which can be a solution for increasing Romania’s competitiveness at the global level.Among the methods used to support these ideas, we will list several, from amongthose used in the article: the analysis of statistical data from several complementarysources (including evolution over time) – indicators related to SMEs in general (theshare of enterprises, of the workforce, of the turnover, of the added value, in thenational economy etc.) and to innovative ones in particular (means for innovation –using own funds or in cooperation; types of innovation – technological or nontechnological,etc.); a comparison on the one hand between the situation in Romaniaand the one in the EU, using indicators calculated as the average of values recorded inthe member states, and, on the other hand, between Romania and other EU membersstates with innovation performances superior or comparable to those of our country;emphasizing the difficulties faced by this sector, especially those concerning access tofinancing, in relation to innovation-related characteristics.