EnglishSmall and medium businesses account for the majority of Romanian manufacturers and service providers according to Ovidiu Silaghi, Minister for Small Businesses, Commerce, Tourism and Liberal Professions, who pointed out that 70% of Romania"s GDP came from SMEs.
He believes that the small business sector is highly dynamic and adaptable to market demand, which means that it is a great source of new jobs, inclusively for those laid off from the less profitable sectors. The number of small businesses in Romania increased by 27% from 2000 to 2004.
The majority of small businesses in Romania are service providers (77.4%), construction companies and tourism-related companies. Minister Silaghi also announced a multi-annual program worth some 12 million EUR that would finance investments made by small businesses. Eligible candidates may receive up to 50,000 EUR, equal to up to 60% of the investments. Newly established small businesses may receive up to 10,000 EUR.
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