Determining the Impact of SME Development in Eastern Europe on Romania

This research project investigates the influence of small and medium-sized enterprises (SMEs) in Eastern Europe, with a particular focus on Romania after its accession to the European Union. The study begins with an abstract, followed by an overview, background, aims, objectives, research questions, and a Gantt chart outlining the project's timeline. The literature review examines the impact of new start-ups, the role of small organizations in Romania's productivity, and the relationship between trends and business growth. The methodology section details the research approach, design, data sampling, collection methods, ethical considerations, and resources utilized. The results section presents findings, followed by a conclusion, discussion, and recommendations. The project aims to determine how SME development affects Eastern Europe, specifically in Romania, and includes objectives to analyze the influence of start-ups, the impact of small organizations, and the correlation between trends and small business growth. The research utilizes both primary and secondary data collection methods, including questionnaires, to assess the perspectives of respondents. The findings suggest a positive correlation between SME development and Romania's economic growth, emphasizing the importance of SMEs for the country's success.

Research Project

Table of Contents
ABSTRACT ....................................................................................................................................1
TITLE:.............................................................................................................................................1
1.1 Overview of the Research ...............................................................................................1
1.2 Background of Research...................................................................................................2
1.3 Aims and Objectives.........................................................................................................3
1.4 Research Questions..........................................................................................................4
1.5 Gantt Chart.......................................................................................................................4
LITERATURE REVIEW................................................................................................................6
2.1 Influence of development of new start-ups in Eastern Europe.........................................6
2.2 Impact of Small organisation on growth and Productivity of Romania...........................7
2.3 Relationship between new trend and development in Romania and growth of small
business...................................................................................................................................9
RESEARCH METHODOLOGY..................................................................................................11
3.1 Type of Research............................................................................................................12
3.2 Research design .............................................................................................................12
3.3 Data Sampling ...............................................................................................................13
3.4 Data Collection...............................................................................................................13
3.5 Ethical consideration......................................................................................................17
3.6 Resources........................................................................................................................18
RESULTS .....................................................................................................................................18
Conclusion and Discussion and Recommendations......................................................................30
REFERENCES..............................................................................................................................33

ABSTRACT
Main purpose of conducting research project is identifying the impact of developing
small-medium size organisation in Eastern Europe after joining to the European Union. This
dissertation based on different chapters which includes introduction, literature review, research
methodology, results, data interpretation, conclusion and recommendation. In introduction
chapters different information related to the research project includes such as aims, objectives,
questions, reason behind conducting research and many other important details. All these are
essential and valuable for completing each and every activities of research in an appropriate and
accurate manner. In literature review, different number of authors and writers provide their
opinion about the research topic. Literature review is a part of secondary research which help an
investigator to collect accurate and appropriate amount of information from the selected
respondents. On the other hand, under methodology, different number of methods are used such
as research approach, sampling, qualitative and quantitative, primary and secondary data
collection tool i.e. questionnaire. It is prepared by the researcher to gather accurate and relevant
amount of data from the participants about the research topic. One of the main reason of
conducting dissertation is to analysis impact of developing SMEs business organisation in
Eastern Europe after Joining the European Union. As per the questionnaire, more than half of the
respondents out of 30 are agree as development of small organisation in Eastern Europe highly
impact on growth and productivity of Romania in a direct manner. As per the conclusion,
success and growth of country is depend on the SMEs. There are some recommendation to the
small organisation to develop their business operations in different countries which highly
impacted their progress and success in direct way.
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TITLE:
“To determine the influence of developing small - medium size business in Eastern
Europe after joining to the EU: - A case study on Romania”
1.1 Overview of the Research
Small and medium size businesses plays a very important role in the overall growth as
well as development of the economy, thus it becomes crucial to manage these SME Business
effectively over period of time (Audretsch, Belitski and Desai, 2015). There is a diverse impact
on business in eastern Europe when this part of the Europe has decided to enter into European
Union, Especially SME Business has seen effective growth due to the fact that various benefits
has been derived by these businesses through efficient policies of the EU regarding growth and
development of SME Businesses. A proper research in this regard would give a better idea as to
what benefits and drawbacks are there for Eastern Europe after their decision to join European
Union (Babajide, 2012).
1.2 Background of Research
The present research will try to outline the various benefits that are being derived by the
SME sector of Romania, once the country has decided to get into European Union. The research
will also help in specifying the various disadvantages that are there for entering the EU. These
disadvantages can be with regards to restrictions that will be imposed by the organisation and its
adverse effects on the working of SME Sector. Romania is the 12th largest country as well as it
among the most nations in EU. Thus, it is essential to make sure that right kind of policies is
made for the 20 million people of the country. The country is having a GDP of 0.5 Trillion
Dollars with a per capita income of around 26,000 dollars. A detail discussion will be carried out
on the SME Sector within the country and its impact on Romania’s Economy in general under
the current research (Bayne, 2017).
Romania is a semi-presidential republic and a part of European Union. The nation has
joined the EU since 2007, when they joined together with neighbouring Bulgaria. The only
junior member of the EU is Croatia as the nation joined in 2013. Romania decided to join EU in
Eastern Europe in which different number of small-medium size business are developed that
effect on that country in direct manner. Small business is an independently operated and owned
organisation that is limited in revenue and in size depending on the industry. One of the best
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example of small business is local bakery store that employs 10 people. A manufacturing facility
that workers less than 500 people is another example of small entity (Bendell, 2017). Therefore,
Small and medium size organisations are businesses that keep assets, number of employee or
revenues. In simple word, small scale organisation is business that have small number of
employees and does not have maximum amount of sales. Such type of business are generally
privately operated and owned corporations, partnership and proprietorships. Eastern Europe is
the part of European Continent. This is formed by nations with dominant Eastern Orthodox
churches such as Belarus, Republic of Macedonia, Bulgaria, Greece, Moldova, Russia, Serbia,
Montenegro, Romania and Ukraine for instance. Along with this, in developing small business
organisation in Easter Europe is highly effect on nationality and company. Main requirements
and needs to join the European Union, if any nation that fulfil the conditions or needs for
membership can follow. Such kind of situations are identified as the Copenhagen criteria and
cover a free-market economy, rule of law, stable democracy and the acceptance of the entire
European Union legislation or rules, including of the euro. Main reason behind conducting this
dissertation is to identifying the impact of development of start-ups in Eastern Europe. Thus,
development of small organisation is Eastern Europe is highly influences on productivity and
growth of Romania directly (Gereffi, 2014). Beside this, researcher needs to identify relationship
between developments and new trends in Romania and small business growth. Thus,
development of SMEs impact on country growth and development directly. Research is more
essential and significance part because it help an investigator to analysis proper and accurate
information about the topic. Large number of small organisation are work under Eastern Europe
that externally impact on Romania in direct manner. Research is also more valuable and useful
for the investigator to analysis the imp[act of development of small-medium organisation in
growth and success of specific country. This part of research also support an investigator to
overcome chances of issue and difficulties.
1.3 Aims and Objectives
The aim of this research project is “To determine the influence of developing small -
medium size business in Eastern Europe after joining to the EU: - A case study on Romania”.
Research objectives, on the other hand, are the proper strategies which described the way to
achieve research aim (Burns, 2016). All steps which take need specific lists of tasks in order to
attain goals of research project. It is identify as a main part of research which is based on
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research title. Well-designed and proper aims develop clear relation between research project
and the more. It is important and essential part of research project because research objectives
and questions are highly depended on this. Main aim of this dissertation is to “To identify the
impact of developing small - medium size business in Eastern Europe after joining to the EU: - A
case study on Romania”
Research objectives should be sensible and precisely decided (Obeng, Robson and
Haugh, 2014). They make an accurate use of concepts as well as data. Research objective is a
main part of the Dissertation (Czaika and De Haas, 2014). This section is based on two variables,
one is dependent and other one is independent. In this research project, growth of Eastern Europe
is dependent on developing small-medium size organisation after joining to the European Union.
In this, researcher need to make some important and useful objectives which will help in
completing all research activities properly and systematically. There are few research objectives
which is based on research aim is determined as under:
 To determine the influence of development of new start-ups in Eastern Europe.
 To identify the impact of Small organisation on growth and Productivity of Romania.
 To analyse the relationship between new trends and developments in Romania and
growth of small business.
1.4 Research Questions
This is another important and useful section of research project which is mainly based on
research objectives. Beside this, different questions are made according to objectives which is
essential for the researcher in order identify importance and concept of research topic (Doh and
Kim, 2014). There are some questions according to objectives which are determined as under:
 What is the influence of development of new start-ups in Eastern Europe?
 What is the impact of Small organisation on growth and Productivity of Romania?
 What is relationship between new trends and developments in Romania and growth of
small business?
1.5 Gantt Chart
A Gantt chart specifies the schedule of activities that were conducted for the purpose of
making this report and what was the duration for the same. It helps a reader in getting a
background of the research and understands the sequence in which the research has taken place,
so as to get a better view of the whole report in an effective way (Piergiovanni, Carree and
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Santarelli, 2012). The following Gantt chart gives an effective explanation of the research’s
activities as well as duration:
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LITERATURE REVIEW
A literature review is identify as an evaluative report of data analysis in the literature
related to chosen field of study. Review about literature should determines, evaluate, summarise
and clarify information (Jacoby, 2014). It is identify as one of the important and essential section
of research because in which different number of authors and scholars are give their point of
view about the research topic.
2.1 Influence of development of new start-ups in Eastern Europe
Romania is one of the biggest country of Eastern Europe and the current policies as well
as regulations of the governments in whole eastern Europe has recommended a more liberal
policies for the start-ups and Small businesses. The aim is to generate employment on local level
and also ensures a higher level of per capita for people who have been deprived of a higher
income up till now (Li and Rama, 2015). Major countries within the eastern Europe has able to
recognise the fresh talent in terms of youth that they possess, which they now want to capitalise
into by giving them a better level playing field for as well as effective performance over period
of time. Studies have suggested that Its way much easier to start a company in countries like
Poland and Romania then in Big countries like UK and France. This is because, the restrictions
and policies of the government for fresh start-ups and SME’s is not much and they have made a
better investment climate in their concerned regions, which has further boosted the overall
sentiments of entrepreneurs as well as businessman. The investment in early stages of business in
Eastern Europe has risen from 10 million$ to 230 million$ that is a huge increase and is growing
rapidly as well. There are around 30,000 start-ups in Eastern Europe and these have contributed
in the overall growth of the economy of these countries over period of time ( A quick tour of
Eastern Europe’s startup hubs, 2018). The availability of the resources in Eastern Europe is not
as much as Western Europe but this has not made them feel discouraged and they tried to keep
up the pace with Western Europe by drawing a large amount of investment within themselves.
The countries in Eastern Europe are now trying to open up their economies more, which has
created a better and effective business environment that leads to higher growth of small business
in the longer run (Rudina, 2013).
As per the point of view of Ciszewski, (2017) Different of them target the international
market and implement their products or services in that country, and various seek most of their
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incomes from Western European and United State customers. Venture capital investment in
Europe has develop from $5.7 billion in year 2012 to $14.1 billion in year 2015 and approx $8.7
billion of 2016. Information collected, venture investment is grow last few years, In 2011, $9.5
million to $283 million in 2016.
According to the David, (2017) Owners of a small business come from a different
background or aspect, each with their own opinion for following self-employment. Often times
business operated and owned independently and have less workers. Small business are more
significant and essential to the better future of the Eastern Europe. There are three primary and
effective ways that SMEs contributes to particular country. They provide more opportunity to
people in order to attain financial independence, create employment opportunities and encourage
innovation. Small business create a broad and large variety on effective or unique employment
possibility.
There are several forms of trading bloc such as Preferential Trade Area, Free Trade Area
and Customs Union. There are some advantages for members of trading blocks, including, free
trade within the bloc, market access and trade creation, economics of scale, jobs, protection etc.
All these are essential and important for success and growth of SMEs in direct manner. Small
businesses organisation play most essential role in success and growth of country by increasing
living standard, providing job opportunities and also increasing per capital income of people.
Start-ups are a more chance or possibility for small Eastern European. Their relative
significance for the gross domestic product of country is much maximum than in the United
State, Germany or United Kingdom (Kimura and Obashi, 2016). Main reason behind this
governments of specific country are willing in order to support and help teach hubs by making
effective infrastructure and simply developing public venture capital funds. There are different
opportunities available for the people who not have job. Furthermore, secure conditions of labour
market mainly come with maximum wages for labours.
SMEs play a key and important role in transition and developing nations. These firms
atypically account for around 90% of all firms external the agricultural sector, constitute a main
source of employment and make important domestic as well as export earnings also. As such,
SME development come out as a key way in poverty reduction efforts.
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2.2 Impact of Small organisation on growth and Productivity of Romania
New startup company is small in size that has freshly been started by someone. A startup
is a fresh and new organisation that is just beginning in order to develop. Stratus are mainly
small and initially operated and financed by an individual. Development of start-up organisation
is also essential because it provide job opportunities to the unemployed people which is also
effective for the success of that country. Romania, Population wise, is one of the biggest
countries of Europe and thus is able to garner a lot of investment for the purpose of new start-ups
as well as businesses over period of time. According to Sterlacchini, 2017, The government of
Romania has came up with a comprehensive plan to ease out the process of conducting business
in the country, and they have been able to make a conducive environment for Start-ups as well as
SME to flourish and grow. It has been ranked at number 68th in terms of offering a conducive
business environment to its investors. This has resulted in drawing a large number of investors
for the economy as a whole. Most of the capital has gone to people who are being regarded as
Cyber- Entrepreneur as their capital is invested in businesses like E-commerce and other net
based ventures. Also there were a large number of set-ups which were continuously conducting
business on a smaller scale, policies have been framed to make them grow and compete
effectively on national as well as international level. Small organisation has been able to draw a
huge amount of VC Funding from various international sources, because of the fact that
Romania is considered as one of the most attractive destination for investing in Eastern Europe.
This has generated sustainable employment along with making necessary innovation growth in
the economy (Laszlo and Zhexembayeva, 2017). This kind of progress has boosted the
confidence of investors within the country, thus a higher capital formation can be seen within the
country due to these factors (Omri, Frikha and Bouraoui, 2015). It is also expected that the
Romanian Economy will going to be among the largest in Eastern Europe, if a higher growth
track can be achieved by the country going forward. The technological progress that has taken
place within the nation in recent past is one of the primary reasons for SME Growth and
Prosperity. The aim should be to maintain the same kind of government policies that will boost
the sentiment of investors as well as entrepreneurs. Small organisation has big and more impact
on the Romania by providing different number of job opportunities to the unemployed people.
The economy of Romanian, between 2000-2010, accomplished essential transformations
in the procedures of integration and accession in the structure of EU. It reflected or impacted at
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both level of SME sector and macroeconomic level. Until, 2008, Romania had an essential and
important procedures of economic success, fact impacted by the favourable evolution of actual
gross domestic product, the average GDP rate is approx 5.84% was above the European Union-
27 mean value of about 2.24%. along with this, in year 2009 based on a complex of internal
factor as well as global economic crisis. In Romania rate of gross domestic product fell by up to
6.6%, maximise that continue basis to get in 2010.
Although Romania accomplished essential progress or development in economic success.
For example: rate of gross domestic product increase from approx 2700 in year 2000, to 4200
Euro in 2010. Therefore small business organisation is highly impact on growth and productivity
of Romania (Mearsheimer, 2014). The positive impacts generated or created by small business
enterprise are multiple such as enhancing the competitive environment, developing possibilities
for adaptation and creation of advanced technology, working niche markets that are not
beneficial for large organisations, anchoring in national economies by funding local resources
like financial, material of informational and labour.
Encouraging Small business industry in an essential concern at the level of European
Union, including that SMEs are core factors or aspects for economic recovery. Between the year
of 2002 and 2010, approx 85% jobs rising in Europe were developed by SMEs. In total
employment, percentage exceeds by 67%. During the time period, total employment maximised
essentially by a mean of 1.1 million innovative jobs each and every year. Thus, small business
enterprise play an important and essential in the growth of Romanian economy by maximising
dynamism, innovation, competitiveness and employment of progressive labour. SMEs small size
contributes to enhancing human relations, effecting employment in forms of job satisfaction and
performance (Medve‐Bálint, 2014). Small and medium size organisation also have the benefit of
occupying or working those niche marketplace that are nor essential for large enterprise. On the
labour marketplace, small organisation generate more opportunities of jobs and with a lower
capital cost, state an essential alternative to battle unemployment.
Accordinf to the Mariah Brown, 2018,A regional trading bloc is a unite of nations within
a geographical region that assist themselves from imports from non-members. These are a type
of economic integration, and progressively shape the structure of world trade. The significance
of small organisation to local communities or societies is emotionally rooted in purchasing and
selling with neighbours and friends. Small firms is essential and important in big cities as well as
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rural areas also is seen in the economic welfare of purchasing nationally. In some towns, a small
organisation is the only form that can live on while serving a decreased population. In a large
city, small organisation often provide a more diverse merchandise or specialize in giving new or
personalized client experiences. They also present new or effective employment chances and do
as the building blocks of the US largest corporations.
Romania has joined European Union in year 2007. Until 2009, economic growth of
country was fastest in Europe as Romania get a leader in sectors like information technology and
vehicle production. In year 2009, the nation has been powerfully deed by the crisis and their
economy has go through a heavy contraction. In 2011, expected growth of Gross domestic
product, low level of unemployment, increased exports and low government gross Dept are all
marks of the figure that Romania display positive developments. Thus small organisations has
more and direct impact on productivity and growth of Romania.
SMEs are regarded by investors and creditors as high-risk borrowers beside this low
capitalization and insufficient assets, high mortality rates and vulnerability to market
fluctuations. SME establishment is considered to be essential at present days. They consist in job
development in this recent day economy. In actual times it would have been detected that the
unemployment diminution all over the universe is due to the different of emerged small and
medium size organisation. Out of the SMEs contribution, there is a essential growth in gross
domestic product and accurate money flow crosswise the economy of Romania is noticed. SME
charges lower rates to their customers by giving a quality concern. When the economy of state is
in amended condition, the small and medium size organisation will flourish. If the economy of a
country is volatile, the small size organisation will face a hazard of going down, as they live on
within a small budget. Along with this, SMEs boost the Romania economy by spending
additional revenue and employment.
2.3 Relationship between new trend and development in Romania and growth of small business
The recent trends as well as developments that are taking place within Romanian
economy have lead to a better as well as effective growth of the small business. As per the Views
of Santarelli, 2017, the fairly young generation within the country along with economic and IT
Boom that is hitting the country has to a perfect blend for growth of small and medium scale
organisations. The youth has demanded a better place in the Government systems in terms of
better jobs as well as employment. This has ignited protest within the country also, this has
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forced government to pay attention on various kinds of hindrances that individual faces while
conducting business and opening up a new venture for themselves. This has resulted in framing
of effective as well as efficient policies that will enable proper development of SME Sector in
general. The export market has been opened up for the purpose of reaching a larger countries and
taking the name of home country on international level (Mol and Sonnenfeld, 2014). Also,
various schemes related to subsidies have been introduced by the government which has further
boosted the sentiments of businessman to launch a manufacturing unit within the country. The
growing number of youth population is also an added advantage for the country which may lead
to a better as well as efficient economic growth in the future due to fresh energy as well as
innovation that they give to the nation (Dahles and Susilowati, 2015).
A maximise in the number of real time trading and digital screens, innovative creation in
hyper-targeting and an increasing beacon adoption emphasised on analytics OOH (out-of-home)
advertising will be an essential aspect of mobile and social strategies and will start being
acknowledged as a response medium in a direct manner. These are known as main and core
trends across the out-of-home advertising sector. In the relation of constant industry evolution
and changes, Phoenix media, outdoor digital market leader has incessantly sought in order top
innovate in forms of OOH advertising and established first planning programmatic application is
called integrated traffic extended system.
Thus technology is more effective and essential trend in Romania which highly effects on
business and its operations in a direct manner. Along with this, technology is also effect on small
business development and success (Musteen, Datta and Butts, 2014). With the help of
technology, small business organisation can easily promote their goods and services to the
customers as well as retain long run sustainability at that country. Technology is also beneficial
and important for the SMEs to achieve better outcomes within predetermined time period. Apart
from this, technology is also essential and significant for the business entity to accomplish long
term goals and objectives in limited time duration. Technology also support small and medium
size organisation to easily introduce their services and products to the customers. There are some
another importance of technology to SMEs which are determined as under:
Effective customer communication: Technology is essential to a SMEs ability in order to
communicate with customer in an effective and efficient manner. Small business growth and
development capability is analysed if its clients can effectively sell and interact its agenda to
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customers. Web sites allow clients to analysis a businesses information in quick manner.
Technology has increased faster shipment of goods allowing the organisation in order to cover
biggest larger geographic areas. Better relationship between business and customers
communication translate to quicker growth and development. Good communication develops
effective public image hence maximising customers base in Romania.
Marketing: Technology is also beneficial and effective for the small business
organisation to easily sell their goods to the customers (Nugent, 2017). Beside this, email
marketing is an essential and low cost technique in order to reach different number of person
with a coupons, newsletter or business updates. It is also essential for the small organisation to
increase their growth and productivity within predetermined time duration.
Operations Efficiency: Technology also supports a SMEs to know its cash flow
requirements and preserve valuable resources such as physical space and time. Warehouse
inventory technologies let organisational owner to know how best to handle the storage cost or
value of holding product. In place with accurate technology, executives of SMEs can save money
and time by holding different meetings over the digital technology such as internet.
A business organisation doesn’t launch innovative, products, services and offers quiet
often, so the development team of SMEs should be capable to market it on huge scale. The web
application shall be fit to target past clients who have signed up for the newsletter. Technology is
consider one of the biggest trend that help in attracting large number of customers and also
maximising growth of small-businesses enterprise. It is show huge development and growth of
SMEs which will help an enterprise to accomplish better results within given time duration.
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RESEARCH METHODOLOGY
Research Methodology refers to an activity through which necessary information is
gathered for the purpose of arriving at certain conclusion regarding a topic (Shenkar, Luo and
Chi, 2014). It basically refers to various public researches, questionnaires along with survey and
interviews etc. These are research techniques that are being used for the purpose of gathering
relevant information. Methodology is identify as the theoretical and systematic analysis of the
methods used to a field of study. It is an effective process applied to gather data and information
for the motive of making proper business decisions. This part of the research may cover
interviews, publication research, survey and many other techniques. It cloud also cover both
historical and present information about the research topic. Research methodology gives
researcher with a comprehensive overview of research methodologies and paradigms, with their
epistemological and ontological underpinnings. Research Methodology refers to the particular
techniques or procedures which is used to identify, choose, process and examine information
regarding a topic.
There are different methods of research methodology which is used by researcher in
order to collect accurate and proper amount of information from the respondents. These can be
based on historical as well as present researches. Some methods and approaches of research are
determined as under:
3.1 Type of Research
There are distinctive type of research that can be used by the researcher for the purpose of
conducting a particular research, these are applied, quantitative, qualitative research. Applied
research tries find solution to a particular problem in the whole research, while quantitative
research is research is based upon numeric figures or statistics; its aim is to measure the amount
of information and then compare it with past records. Such information is used for future period.
The major objective of quantitative research is to evolve mathematical model, hypothesis or
theories concern to phenomena (Wang, 2016). On the other hand, Qualitative research is
basically collecting information from others viewpoint. The current report is based on qualitative
research as it gives fair information for the purpose of effectively reaching to certain conclusion.
There are mainly two types of investigation which is used by researcher in order to
accumulate information from the respondents. Quantitative and qualitative research are
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important part of investigation used to gather accurate information from the participants. In case
of qualitative research, information produced are always numerical as well as they are evaluated
following statistical and mathematical methods. Most common sources of qualitative information
such as observation, survey and secondary data i.e. company account. On the other hand,
quantitative data, there are different number of statistical tools available in order to evaluate
quantitative information. Interviews, focus groups, postcards, secondary data, observation,
questionnaire are main example of such type of data. Both are useful and valuable for an
investigator to collect information accurately from the respondents. As per the research topic,
qualitative research is used because it help preparing valid conclusion and collecting accurate
information (Wedel, 2015). For collecting accurate and quality information about the research,
qualitative type of research is used by researcher. There are different reasons behind selecting
qualitative research, some are determine as under:
 Subject materials can be evaluated with greater and better detail.
 Research framework can be fluid and mainly based on incoming as well as available data.
 This type of information mainly based on human observations and experiences.
3.2 Research design
A effective research design will make it easy for the researcher to make out working
activities of the research effectively. Basically, there are three types of research design; these are
descriptive, experimental as well as exploratory. Descriptive research design tries to provide
answers to the questions like who, when, why etc. Whereas experimental research design is a
blueprint of procedure which enables that investigator has to put a control over all aspects which
can hamper the results of an experiment or research. Exploratory research is conducted to sort
out problems, when there is no earlier study can be made available for the purpose of making and
framing an opinion. The present Research is based on descriptive research because it is a better
and effective way of conducting research (Ștefănescu-Mihăilă, 2015).
Justification: For this project, descriptive design is used by researcher because it will help
them in accumulating accurate and reliable data about the topic. As the sample size is
specifically large in descriptive research, the information or data collection is speedy to conduct
and is cheap.
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3.3 Data Sampling
It is the process of collection of sample from a wide range of population. Under this, A
sample is collected from a population and the opinion of those sample population is regarded as
the opinion of whole population, this is because the sample, basically represent the whole
population. For the purpose of Current Research the sample is taken of 30 Respondents. This
will give a better point of view of the population in general.
Justification: For selecting sample size, convenience sampling method as a type of non-
probability sampling will be used by researcher. As it is essential and nor require maximum
fund, resources and time of an organisation or researcher.
3.4 Data Collection
It is the various methods which are being used to collect relevant data for the purpose of
research. Under this, decision needs to be made whether data has to be collected from primary
sources or secondary sources. Primary sources include Questionnaires, Interviews, and Surveys
etc. While Secondary sources include Various Journals as well as books written by different
authors Internet and other sources of information also comes under secondary source of data
collection. Current research is done by obtaining data from both the sources in an efficient
manner (Cristea, Marcu and Cârstina, 2014). Along with them, It is identify as important and
essential method for collecting data in an appropriate manner from the respondents. There are
basically two types of data collection methods which is determined as under:
Primary source of data collection: It is known as original source of collecting
information from the selected respondents. It can be gathered in a different ways such as self-
administered surveys, field observation, experiments and interviews. All this are essential and
useful methods but researcher need to prepare an effective questionnaire. Main reason behind
preparing questionnaire is to gather appropriate and proper data from the customers who is the
main part of population. In order to collect accurate and reliable data about the study,
questionnaire is applied by researcher for gaining accurate information about the study. It will
also assist them in doing research activities or tasks in well-designed manner.
Secondary source of data collection: It is refer to information which is gathered by
someone. Secondary information can be obtained from various sources like, progress reports,
libraries, internet searches, publication research, articles, magazines, newspapers and many other
15

relevant sources ( Williams and Vorley, 2015). All these sources are useful and valuable for the
investigator to gather appropriate amount of data and draw valid conclusion.
Justification: Therefore, primary and secondary source of information are useful for the
researcher to accomplish research aim within predetermined time period. In case of primary data,
questionnaire is suitable for the researcher to identify need and importance of research topic. On
the other hand, under secondary source of data, literature review is more valuable because in this
different numbers of scholars and writers are provide their opinion about research topic.
Research philosophy: This part of the research method is basically divided into two parts.
Beside this, one is interpretivism and second one is positivism philosophy. Both type of
philosophies determined as under:
Interpretivism Philosophy: It is also known as interpretivist involves investigators to
interpret components of research, thus, such type of philosophy integrates respondents interest
into a particular study. It is based on naturalistic method of data collection like observation,
interviews, questionnaire etc. secondary data research is also essential and famous with
interpretivism philosophy ( Williams and Vorley, 2015).
Positivism Philosophy: This type of philosophy prefer quantitative method or approach
such as structured questionnaire, official statistics and social survey because they have better
representativeness and reliability.
Justification: Therefore, both types of research philosophies are important and useful for
the researcher to achieve better results within predetermined time period. In this research topic,
interpretivism philosophy will be applied because it will be suitable in arriving appropriate and
valid conclusion. Positivism philosophy is not used in this topic because it is not suitable and
valuable for collecting proper information and drawing valid conclusion.
Research approaches: There are mainly two types of research approaches such as
inductive and deductive. Both are useful and valuable for the researcher to collect accurate and
relevant data about the research topic from the respondents (Audretsch, Belitski and Desai,
2015).
Justification: According to the topic, inductive research approach will be used because it
help an investigator to accumulate proper and reliable data about the study. It is also effective for
researcher to drive valid conclusion for field of study.
16

Research reliability and Validity: The research reliability is based on execution of test
instrument which includes survey or questionnaire. Both are essential and valuable for the
investigator to gather appropriate and relevant amount of data from the respondents. This was
piloted crosswise certain potential respondents in order to ensure that the knowing of the
questionnaire was conformable across various respondents (Bayne, 2017). It was revised to
address all issues or problems in the specific research questions that were not understood easily
by the customers in the questionnaire. Thus questionnaire is more effective and valuable way for
the researcher to collect information from the respondents in accurate and relevant manner.
Questionnaire is consider useful instrument of primary research which will help an
investigator to collect reliable and valid data about the topic. To overcome the problems in link
to the validity of test, the questionnaire was prepared to as a close-ended thereby limiting the
respondents response to a negative, positive or no to the question posted. On the other hand, if
questionnaire is close-ended, questionnaire validity was accepted as an output of such approach
according to the response of respondents.
Research setting: It can be seen as the social physical, cultural site in which an
investigator conducts the research. In qualitative research method, the emphasis is mainly on
meaning making, and an investigator studies the respondents in their natural setting. Along with
this questionnaire is well suitable and appropriate method which is prepared by the researcher to
analysis appropriate response of respondents about research topic (Bendell, 2017). There are
mainly two types of research setting such as qualitative and quantitative. Both are valuable but as
per the research topic, qualitative research setting is more appropriate for gathering proper
information and drive valid conclusion. Main reason behind selecting qualitative setting is it
gives an in-depth understanding or detail of the ways people come to realize, act and handle their
day-to-day situations in particular settings. It will also assist a researcher to accumulate proper
and appropriate informant about the study.
Ethical issue: As the research concern research ethics and primary research were used
largely to see that the research outputs are thoughtful to be relevant and robust. The ethics
principles of research that were applied include anonymity, confidentiality and informed
consent. For informed information, this involved giving the primary research answerer with a
knowing of the study objectives and enabling the possible respondents in order to opt out or in
of involving in the primary research method. For obscurity, the details and information of the
17

respondents to that type of research are not covered and are not connected to any results of
primary research. Eventually, for confidentiality or privacy, the research outputs are only
divided with those who have a interest in the outputs and are main of the investigation in a
specific capacity. In order to address this issue, investigator should try to ask simple questions to
the respondents.
Materials: There are different materials which are used by the researcher in order to
collect appropriate data from the participants or respondents. Some materials such as tests,
scales, interview, questionnaire, observation schedule and many other. In this research topic,
questionnaire is more effective and essential for the investigator to collect or gather accurate data
from the respondents. There are different reasons of selecting questionnaire instrument such as ,
it is cost-efficient and provide speedy results for researcher about the study.
Instrument develop: Research instrument applied was Microsoft Excel with this software
application followed for presenting the information graphic manner. For few of the responses or
outcomes to the questionnaires techniques, the investigator was in touch or relate with the
answering via email ( Czaika and De Haas, 2014).
In order to analysis resulting information, researcher follow an effective process. This
process has certain steps which are determined as under:
 Review the questions.
 Organize information.
 Decide how to evaluate information.
 Analyse quantitative data.
 Analyse qualitative information.
 Integrate the information .
All these are main steps which is essential and important for the researcher to evaluate resulting
data in an appropriate and accurate manner.
Procedures: This is identify as an effective and essential part of methodology which
describe characteristics of interviewers and observes and many other relevant and accurate
information about the research. Some details determined as under:
Characteristics of the interviewers: Interviewer characteristics or quality refer to the individual
attributes or behaviour of inquirer who is preparing a questionnaire with a selected respondent. It
18

is a type of physical attributes like age, gender, voice quality and behavioural attributes like
friendliness or confidence (Doh and Kim, 2014). Both audio and and visual cues are gettable to
participants in face-to-face interview. Investigation has described that characteristics of
interviewer impact unit non-response, response quality and non-response. Along with this,
different training classes joined by interviewer to increase their knowledge and skill about how
to attract respondents.
Reliability and validity is identify as an effective way of assessing quality of
measurement activity or procedures used to gather information in a dissertation. If result of the
procedure is valid them process of measurement must first be reliable. It is also essential and
important for the researcher to gather accurate data from the researcher. In this different
instructions are given to the participants such as to provide their opinion about research topic and
its importance and impacts to the company or country. There were 10 questionnaire are prepared
for analysing opinion and point of view of respondents about the topic.
3.5 Ethical consideration
While conducting a research, A researcher has to face various ethical issues. It is the
responsibility of the researcher to conduct the research in the most ethical way possible. In
performing his research, a researcher accumulates data from respondents which are quite
personal in nature and thus it is his responsibility that the same shall be used only for the purpose
for which it is obtained and not misused in any way (Doh and Kim, 2014). Also, the research
shall be completed in the time and budget which has been allocated to the researcher. Thus, these
are some of the ethical considerations that a researcher shall fulfil while undergoing a particular
research effectively. There are some research ethics principles such as informed consent,
confidentiality and anonymity that were utilised in research. All these are main principles that
should be follow by researcher in order to complete each activities of research in more
systematic and effective manner.
3.6 Resources
These are the resources that are being used for the purpose of effectively carrying out a a
particular research, these resources are primary and secondary in nature. The data is collected
from primary sources like Interviews, Questionnaires, and Surveys while secondary resources
include journals, books and Internet based information. It is the responsibility of the researcher to
19

make sure that adequate research resources is accumulated and research is conducted that will
help in conducting the research in more appropriate manner (Islam, 2014).
Research Limitations:
There are different number of limitations and issue which are observed at the period of
executing the research study in an appropriate and accurate manner.. One of the major problem
and limitations is the time because topic of research is vast and for acquiring response, specific
period of time is highly needed. So in the entire it can be determined that period is less for the
each and every activity of research. There are also different limitation for this project including,
formulation of research aims and objectives, implementation of data collection method, selecting
of sample size, lack of previous studies in the research area, scope of discussion etc. All these are
main limitation which will impact on researcher while doing of each activities of research.
RESULTS
It is another important and essential part of the research project, in this researcher need to
prepare a questionnaire which will highly essential and important for them to collect accurate
and real information from the respondents. The data analysis will be completed with the support
of thematic evaluation. In this different number of themes will be developed which will further
support in executing appropriate and effective research. Questionnaire is determined as under:
Questionnaire
Name:
Gender:
Age:
Q1) Are you have knowledge about the development brought by new start-ups in Eastern
Europe?
A) Yes
B) No
Q2) What are the influence of Small organisation on growth and Productivity of Romania?
A) Economical development
B) Social development
C) Infrastructure Development
Q3) What are the relationship between new trends and developments happens in small
20

businesses in Romania?
A) Positive
B) Negative
Q4) What are the different benefits associated with development of new start-up regarding
improvement of Social aspect in Eastern Europe?
A) Creation of job opportunities
B) High standard of living
C) Hike in per capital income
Q5) If Easter Europe collected different benefits after joining EU?
A) Yes
B) No
Q6) What are the major issues which are faced by small organisations while they going to setup
their business in Eastern Europe?
A) Sufficient amount of capital
B) Technology
C) Manpower
Q7) What economic and social changes are happen in Romania after Eastern Europe becoming
the part of EU?
A) Impact of Currency
B) Impact of culture over working style
C) Increment of government support in Industrial activities
Q8) What are the advantages associated with the economy of Romania from which positive
benefits gathered by small and medium businesses?
A) Social benefits
B) Resources
C) Diversified Culture
Q9) What is the best route to start business in Romania?
A) Corporate Benefits
B) Tax Incentives
C) R&D Incentives
Q10) What is the impact of Brixit over SMEs?
21

A) Positive
B) Negative
Q11) Suggest different ways through which SMEs develop their business in Eastern Europe
after joining to the European Union.
It is another important and essential part in which different number of respondents are
give their opinion and about the research topic. Thus, it is more effective and essential way for
the researcher to identify accurate response of respondents in an appropriate and accurate
manner.
Theme 1: Awareness about the development brought by new start-ups in Eastern Europe
Q1) Are you have knowledge about the
development brought by new start-ups in
Eastern Europe?
Frequency
Yes 20
No 10
20
10
Yes
No
22

Interpretation: From the above mentioned graph, it can be concluded that concept of
development of the new start-ups in Eastern Europe. In this 20 out of 30 respondents are agree
and 10 out of 30 respondents are not agree. Beside this, 10 respondents are say that they are not
aware about the benefits, impact of startup on specific country.
Theme 2: Influence of Small organisation on growth and Productivity of Romania
Q2) What are the influence of Small
organisation on growth and Productivity of
Romania?
Frequency
Economical development 10
Social development 10
Infrastructure Development 10
10
10
10
Economical development
Social development
Infrastructure Development
23

Interpretation: From the above mentioned information it can be determined that small
business enterprise has more impact on the productivity and growth of Romania in a direct
manner. In this respondents are give equal chances to the economical, social and infrastructure
development of country. Small business development is essential for the country because it
increase economic growth and job creation easily. SMEs also impact on social development of
country by providing job opportunities to the uneducated people. Thus, it will also effect on
country growth and profitability in a direct manner.
Theme 3: Relationship between new trends and developments happens in small businesses in
Romania?
Q3) What are the relationship between new
trends and developments happens in small
businesses in Romania?
Frequency
Positive 20
Negative 10
24

20
10
Positive
Negative
Interpretation: It is clearly seen from the above graph that there is a relationship between
new trends and development in small business organisations in Romania. 30 respondents has
been taken whose views and opinions are taken into consideration while conducting research.
Out of 30 respondents, there are 20 respondents who thinks that there is positive relationship
between new trends and developments in small business in Romania as they have clearly said
that training programs enhances the skills and capabilities of employees which makes them more
capable to achieve competitive opportunities that may arises due to new market trends. On the
other hand, remaining 10 respondents doesn't agree with the same as they have views that new
trends increases cost of company which lower their financial position in competitive market.
Theme 4: Different benefits associated with development of new start-up
Q4) What are the different benefits associated
with development of new start-up regarding
improvement of Social aspect in Eastern
Europe?
Frequency
Creation of job opportunities 15
High standard of living 7
25

Hike in per capital income 8
15
7
8
Creation of job opportunities
High standard of living
Hike in per capital income
Interpretation: It is clearly observed from the above graph that there are several benefits
that can be received by the Eastern Europe due to development of new start-ups. Out of the
selected 30 respondents, there are 15 respondents who have clear views that having large number
of start-ups contributes maximum support in the development of Eastern Europe as according to
them, numerous start-ups generates huge number of employment opportunities which improves
the standard of living of people and increase their livelihood. It considers the needs and
requirements of lower income group and accordingly provides quality products and services at a
reasonable prices which can be easily afforded by them. On the other hand, 7 respondents thinks
that development of new start-ups doesn't contribute much towards the society in Eastern Europe
as they have clearly said that small business exploit the interest and lifestyle of people through
providing low quality products in market. It argues that without giving information about their
offerings, they harm the interest and rights of consumers. Along with this, development of new
startup help a people by increasing living of standard whereas remaining 8 respondents have
clear opinion as it will help an individual by hike in per capital income.
26

Theme 5: Benefits gathered by Easter Europe after joining EU
Q5) If Easter Europe collected different
benefits after joining EU??
Frequency
Yes 20
No 10
20
10
Yes
No
Interpretation:
It is clearly identified from the above graph that there are several benefits that can be
arrived by Eastern Europe after joining EU. Among 30 respondents, there are 20 respondents
who agreed with the same as they have clear view that Eastern Europe have received various
benefits after joining European Union out of which the major advantage is receiving financial
help which increases their capabilities to relay all its debts and liabilities to their creditors. On
the other hand, the remaining 10 respondents have different views as they thinks that European
doesn't receive any benefits after joining European Union.
Theme 6: Major issues which are faced by small organisations while they going to setup their
business in Eastern Europe
27

Q6) What are the major issues which are faced
by small organisations while they going to
setup their business in Eastern Europe?
Frequency
Lack of finances 12
Lack of proper marketing strategy 10
Manpower 8
12
10
8
Lack of finances
Lack of proper marketing
strategy
Manpower
Interpretation: It is clearly identified from the above graph that there number of issues
which can restrict small business organisation to enter into market of Eastern Europe. Out of the
30 respondents, there are 12 respondents who think that the major issues which can brings
difficulties towards new small business to enter into European market is having lack of financial
resources. They have clearly said that it is much difficult for new small start-ups to raise funds
from different sources such as Banks, investors etc. due to having less creditability and trust. On
the other hand, 10 respondents considered technology as main issue which can restrict small
start-ups to enter into market. According to them, Lack of proper marketing strategy may affect
28

their decisions of entering into market as the small business always tried to brings maximum
return on their investment with an effective marketing strategy due to having lack of market
knowledge and trends will brings more difficulties towards them to enter into European market.
Along with this, remaining 8 respondents considered manpower as one of the main problem
which can restrict development of small start-ups to enter into market.
Theme 7: Economic and social changes are happen in Romania after Eastern Europe
becoming the part of EU
Q7) What economic and social changes are
happen in Romania after Eastern Europe
becoming the part of EU?
Frequency
Impact of Currency 13
Impact of culture over working style 10
Increment of government support in Industrial
activities
7
13
10
7
Impact of Currency
Impact of culture over working
style
Increment of government
support in Industrial activities
Interpretation: It has been identified from the above graph that there are huge impact
observed in various aspects after the Eastern Europe. Out of the 30 respondents, there are 13
29

respondents who thinks that Romania has observed changes in their currency as the country faces
financial crisis due to heavy borrowings from Western Banks and easy access to foreign currency
denominated loans. According to them, payment of debts, Eastern European currencies are
falling continuous. On the other hand, 10 respondents have different views as according to them
Romania have observed impact of culture over working style due to lowering purchasing power
of people. Along with this, 7 respondents have opinion as Increment of government support in
Industrial activities is major change in economic and social development of Romania.
Theme 8: Advantages associated with the economy of Romania from which positive benefits
gathered by small and medium businesses
Q8) What are the advantages associated with
the economy of Romania from which positive
benefits gathered by small and medium
businesses?
Frequency
Social benefits 10
Resources benefits 13
Diversified Culture 7
30

10
13
7
Social benefits
Resources benefits
Diversified Culture
Interpretation: As per the above mentioned data it can be concluded that there are
different advantages and benefits associated with the economy of country which positive welfare
gathered by small and medium businesses. Beside this 10 out of 30 respondents have view as it
help in social benefits, 13 respondents are think as it will help by providing resources benefits,
and remaining 7 respondents are said as diversified culture is main benefit. Under social
benefits, SMEs give large number of job chances to the unemployed people. Some benefits such
as absence of major trade union movements, agreements between the representative unions and
governments etc. On the other hand, under resources benefits different advantages includes such
as competitive salaries, highly knowledgeable labour force, with better skill to foreign languages.
Theme 9: Best route to start business in Romania
Q9) What is the best route to start business in
Romania?
Frequency
Corporate Benefits 10
Tax Incentives 14
R&D Incentives 6
31

10
14
6
Corporate Benefits
Tax Incentives
R&D Incentives
Interpretation: As per the above mentioned information it can be determined that there
are best route and main reason to start business operation in Romania. In this 10 out of 30
respondents are agree as it provide corporate benefits to the SMEs. Romanian organisations are
establish as limited liability firm which pay the same flat, from a tax perspective, 16% corporate
rate and many other business structures. It means owners of SMEs establishing in Romania
advantage from few structural benefits including the chances of hindered present foreign
ownership, comparatively low opening capital needs. On the other hand, small business in
Romania also provide them different incentives such as foreign tax credits, exemption for
reinvested profits, local tax exemption and many other.
Theme 10: Impact of Brixit over SMEs
Q10) What is the impact of Brixit over SMEs? Frequency
Positive 9
Negative 21
32

9
21
Positive
Negative
Interpretation: From the above sated information it can be determined that Brexit also
highly impacted on Small-businesses enterprise in a direct manner. In the United Kingdom, there
are few 5.7m small business organisation, which account for approx 99% of private organisation
and about 60 percent of total United Kingdom private sector employment. Such type of business
also account for seventy three percent of entire net private sector job development in the United
Kingdom, developing approx 2mJobs since 2010. Beside this, 9 out of 30 respondents are agree
as it effects over SMEs in positive manner. On the other hand, 21 out of 30 respondents are say
as it effects on company in a negative manner. After Brixit, large number of people are loss their
jobs which effects on SMEs in a negative and direct manner.
Conclusion and Discussion and Recommendations
Conclusion:
From the above mentioned information, it can be concluded that impact of developing
small-medium size enterprise in Eastern Europe after joining to the European Union. In this half
of the population are agree as development of small business in specific country highly effect on
its growth and development. As per the above information gathered by questionnaire is more
than half of the population are aware about the development and growth brought by start-ups in
Easter Europe. Small and medium size business has more effect on productivity and growth of
33

Romania which is agreed by the total respondents. Along with this new trends and development
happens SMEs which highly and positively impact on them, in this 20 out of 30 respondents are
agree which is essential and important for the success of country. Apart from this, Small business
organisation provide different opportunities to the unemployed people and develop high living
stranded of society. Thus, it proof as small business organisation is beneficial for the
development and success of country within predetermined time period. There are different
problems which are faced by SMEs wile they going to establish their business operations in
Eastern Europe. In this main issue is lack of finance and improper marketing strategy. In this
economic and social changes are happen in country after Eastern Europe. In this maximum
number of people are agree as it highly effects on culture over working style. There are various
advantages associated with the country economic from which benefits collected by SMEs. Social
and resources benefits are main which will highly effect on business operations and its activities
in a direct manner. Beside this, there are two essential rout for the SMEs to start their business
operations in Romania such as corporate benefits and tax incentives. At last. Brixit is also impact
on small business growth and success because in this crisis different number of organisations are
not able to provide job to the people.
Discussion
It is a part of literature review and primary source of data collection in which different
number of authors and respondents are give their opinion about the research topic.
Influence of development of new start-ups in Eastern Europe
Startup is highly impact on Eastern Europe by providing different number of job
opportunities to the unemployed people. This business is also significant and beneficial for the
growth and development of economic because to develop more chances of job to the uneducated
people who are living in same country (Babajide, 2012). New start-ups is essential and effective
for growth and development of country by providing job opportunities to those people who are
living in Romania. Development of new start-ups is also influence on people by increasing their
living stranded and hiking their per capital income.
Impact of Small organisation on growth and Productivity of Romania
Small organisation is highly impacted on productivity and growth of Romania in different
and direct manner. It is essential and beneficial for the nation to maximise customer base and
reduce unemployment rate. Thus it is effective and essential for the country to maximise their
34

success and growth within predetermined time period. Small scale organisation are important
because it supports in maximising employment and economic development of Romania. It
improves the growth and success of the nation by increasing urban and rural growth.
Relationship between new trend and development in Romania and growth of small business
Technology is identify as a new trend which is develop in the country and highly
essential for the small business (Obeng, Robson and Haugh, 2014). Technology help them to
easily promote their services and products to the customers as well as retain long run
sustainability at marketplace. This will also support an enterprise to achieve better outcomes and
results in given time duration. Therefore, technology help an organisation to maximise customer
base and achieve their long term goals and objectives easily. New trends and development help a
country by increasing living standard, increasing employment and maximising per capital
income. All these are major benefits that show new trends and development has positive relation
with growth and success of small business.
Recommendations
From the above mentioned data, it can be recommended that SMEs have large impact on
country growth and success. There are some recommendations to the country which are
determined as under:
 Small-businesses or startup organisation should use different types of communication and
promotional channel with purpose to increase customer base.
 Government should make accurate rules and regulation which will help on SMEs to do
their business in systematic manner.
 SMEs should follow hire knowledge and talented workforce which will help them in
enhancing its success and growth at marketplace.
 Proper implication of government's rules and regulation will also support small size
organisation to retain strong position in market.
 Small-businesses should provide large number of job opportunities which will help a
Romania by improving its social and economic development.
 Small-businesses enterprise should try to follow different ways through which they can
easily expand their business operations in Romania.
 Economic of the country should provide different advantages to the small medium
organisation such as technology benefit, social benefits and many other.
35

 To overcome issue about capital and marketing strategy. Both are essential and valuable
for the small business to promote their products or services to the customers. Thus, it is
beneficial for the success and development of SMEs in Romania.
 Small-businesses should try to follow different rules and regulation of that country where
they decide to enlarge their operations and activities within predetermined time period.
Thus, it is more significant and beneficial for the development and progress of SMEs to
retain long run sustainability in marketplace.
 SMEs should try to provide different opportunities and chances to the uneducated and
unemployed people.
 Small business should use different technology to promote their goods and services to the
customers in quick manner.
36

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