外文翻譯---中小企業(yè)融資來源：概述-企業(yè)融資-文庫吧
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【正文】 conomics and Business Administration（ 羅馬安吉拉 “ 亞歷山伊萬 斯科特 ” 雅西大學(xué)經(jīng)濟(jì)與工商管理系 ） ② 名稱： Oradea university:Economic science, in 2020 a spool of Issue 1（奧拉迪亞大學(xué)：經(jīng)濟(jì) 科學(xué)， 2020年第一卷第一期） ③ 頁碼： 22，； 431437 SMES39。 SECTOR ACCESS TO FINANCE: AN OVERVIEW Roman Angela “Alexandru Ioan Cuza” University of Iasi Faculty of Economics and Business Administration Through their contribution to the creation of added value and new jobs, the small and medium enterprises (SMEs) have a significant role in the economic and social development of a country. However, these enterprises are facing numerous obstacles that limit their performance, growth and development. Among the difficulties faced by SMEs, the access to finance is often reported as a major obstacle to the deployment and expansion of their activity. The paper aims to highlight the difficulties faced by SMEs in securing financing resources, emphasizing the differences between countries and also between SMEs and large enterprises. Knowing the difficulties in SMEs financing is essential for policy makers in order to design and implement appropriate measures, which will help to improve the access to financing for these enterprises. Thus, another issue addressed, synthetically, in this paper aims the measures taken by public authorities in order to support the access to financing for SMEs. Key words: Small and Medium Enterprises, access to finance, financing constraints, bank financing, support measures JEL code classification: G30, G32, O16 1. Introduction In all countries, small and medium enterprises are a significant source of economic growth and jobs creation. Furthermore, these enterprises, through their dynamism and flexibility, are an engine of innovation and growth. Based on these considerations, it is easy to understand the crucial importance that the easy access to funding has, taking into account that it can support the creation of new businesses, the innovation process as well as the growth and the development of the existing businesses, which in turn boost the economic growth of a country. The paper is structured as follows: the first part contains the introduction remarks regarding theimportance and relevance of the approached theme。 the second part is dedicated to a literature review which summarises the main researches undertaken so far on this theme。 the third part highlights the major difficulties in SMEs financing, and the fourth part of the paper reflects, mainly, the difficulties reported by the entrepreneurs in dealing with banks and the measures that need to be taken in order to improve the access to financing for these enterprises. The study ends with conclusions. The research methodology used in this paper starts with a literature review in order to highlight the importance of the subject addressed in our research. The analysis conducted in this paper is based on data and statistics provided mainly by the World Bank surveys, by certain empirical studies and by the National Council of Small and Medium Sized Private Enterprises in Romania. Based on the methodology used, the paper indicates the difficulties in SMEs financing and the crucial importance of enhancing the public authorities concerns regarding their alleviation, especially by adopting measures focused on increasing financial development. The limited availability and even lack of statistical data regarding the SMEs financing situation from various countries, including Romania, impose certain limits to the researches in the field, which can be overe as policy makers realize the vital importance of developing and monitoring specific indicators regarding the financing of this type of enterprises. 2. Literature review regarding the access to finance for SMEs The access to finance for SMEs represents a topic of great interest for the academic literature, as witnessed by the large number of studies addressing such a problem. Numerous studies based on various surveys highlight that access to finance is one of the most important obstacles in the way of enterprises’ growth and development, especially in the case of small and medium enterprises. The study realised by Beck, DemirgucKunt, Laeven and Maksimovic (2020) reflects, based on a survey that has included firms from 80 countries, the fundamental factors to which depends the enterprises’ access to finance. Thus, the study highlights the relationship between the access to finance for enterprises and their characteristics, such as age, size and propriety structure. From this perspective, the authors find that young firms of small size as we
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