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Half Of Romanian SMEs Seriously Affected By Econ Crisis – Poll

Half of Romanian small and medium-sized firms are seriously and severely affected by the economic and financial crisis, according to a poll conducted in April by the National Council of Private SMEs in Romania.
Half Of Romanian SMEs Seriously Affected By Econ Crisis - Poll
05 mai 2009, 13:57, English

The poll indicates only 2% of Romanian SMEs are unaffected by the crisis.

The poll conducted in Romania’s Seight development regions indicated that 23.53% of firms polled were “catastrophically” affected by the financial crisis and 25.49% experienced large negative effects of the crisis.

Also, 36.27% of SMEs said the impact of the crisis on their business was medium and 11.76% said the impact was mild.

"The fact that only 2% of firms said their profit continued to increase during the crisis is very serious and I hadn’t expected that. Under these circumstances, we expect a large number of bankruptcies, lower turnovers and switches to losses," SME Council president Ovidiu Nicolescu said Tuesday during a press conference.

On the other hand, most respondents (80%) said measures taken by authorities to reduce the effects of the crisis on SMEs are unsatisfactory and 13% said the measures are satisfactory. Only 1% of respondents said the respective measures are good.

Romania registers over 600,000 small and medium-sized businesses.