Until the escalation of prices for energy and consumer goods, and consequently inflation, most of the issues were centered around the labor force.
Along with prices, financing costs have also increased, creating a spiral that has had a challenging operational impact for companies. The implementation of alternative solutions has been accelerated, and even self-generation facilities have been created. On the other hand, competition has ceased to be a real problem, leading to the testing of collaborations and consolidations in various segments to ensure business continuity.
Therefore, strategy, action, and vision have resulted in making quick decisions to curb additional costs. In 2022, operational costs undoubtedly became the most significant issue for SMEs in the CEE-SEE region.
Analyzing the data from the region reveals the following hierarchy of problems encountered by firms:
- Increasing operational costs
- Skilled workforce
- Manager availability
- Demand
- Regulation
- Competition
- Access to financing
Other data concerning the situation in the region is as follows*:
- The main sources of funding are as follows: credit lines, overdrafts, leasing, factoring, securities, shares, grants.
- SMEs in Romania predominantly used internal sources, commercial credit, and leasing.
- Currently, commercial credit accounts for approximately 20%, with a tendency to increase, and it is directly correlated with the market size. In comparison, in Poland, it stands at around 34%.
*The data is obtained from monitoring carried out by the European Commission and the European Central Bank.
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