The Radiography of Micro-enterprises in Romania
SMES ARE THE FORCE DRIVE OF THE ROMANIAN ECONOMY, BUT THEY ARE STILL FACING THE CRISIS
Despite the major importance of this companies’ segment on economic development, the Romanian SMEs still face the effects of the crisis due to:
- Reduced extra credit perspectives in the next period;
- Lack of a solid guarantee program;
- Low weight of the guarantee’s institutions;
- Difficulty accessing European funds, excessive bureaucracy and lack of regulation;
- Cashing debts over due date.
These problems are reflected in the financial situation of this companies’ segment.
MICRO-ENTERPRISES UNDER COFACE’S MAGNIFYING GLASS - SMES MOST AFFECTED SEGMENT. ITS LIQUIDITY, PROFITABILITY AND SOLVABILITY IS IN THE PROCESS OF DETERIORATION
Coface Romania calculated the main financial indicators of Romanian companies regarding different size classes, based on their financial statements submitted to the Ministry of Finance for 2011. Based on this analysis, it was found that micro-enterprises:
- Registered the highest level of indebtedness, of 99% (as a percentage of total debt to assets);
- Is the only sector that registered a negative capitalization;
- Registered the highest loss ratio, of -4.5%;
- Registered the largest DSO, of 172 days, with two months older than the one registered before the financial crisis;
- Registered the lowest percentage of total debt in turnover, of 37%.
For further information regarding the Romanian SMEs sector, we invite you to browse the entire study.
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