Law no. 62/2014 for amending and supplementing Law no. 346/2004 on stimulating the establishment and development of small and medium enterprises was published in the Official Gazette of Romania no. 328, Part I, of May 6, 2014.
This law sets out amendments as concerns the scope of Law no. 346/2004 for the purposes of introducing associations and foundations, agricultural co-operatives and agricultural companies conducting economic activities in the regulatory scope.
The government and public authorities will have a more active role as concerns the area of SMEs by initiating and implementing certain actions for ensuring the continuous development of the educational system for promoting culture and entrepreneurial skills. This law also addresses the matter concerning the financing of small and medium enterprises, providing a list of national programs intended for their financing, to be conducted by the central public authority competent in the field of SMEs until 2020.
According to the amendments introduced by Law no. 62/2014, the draft laws initiated in the field of small and medium enterprises will be subjected to a “SME Test” having as main objective the ascertaining of the effects of the proposed law on small and medium enterprises