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Impact of Developing SMEs in Eastern Europe - Research Project

University: Bath Spa University

  • Unit No: 10
  • Level: Post Graduate/University
  • Pages: 44 / Words 11010
  • Paper Type: Dissertation
  • Course Code: HND137
  • Downloads: 300
Question :
  • Research meeting
  • Research proposal
  • The research report includes an introduction, literature review, methods of research, results of it and the discussion.
Answer :

INTRODUCTION

The main purpose of conducting a research project is to identify the impact of developing small-medium size organisation in Eastern Europe after joining the European Union. This dissertation is based on different chapters which include an introduction, literature review, research methodology, results, data interpretation, conclusion and recommendation. In the introductory chapters, different information related to the research project includes such as aims, objectives, questions, the reason behind conducting research and many other important details. All these are essential and valuable for completing each and every activity of research in an appropriate and accurate manner. In the literature review, a 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 an 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. 

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 populated country 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 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. 

1.3 Aims and Objectives

Research aim can be called as a wide statement of desired results. It is a common intention for which overall research is going to be conducted. It fulfils the major purpose to reader behind conducting a research. In addition, research aim can also be called as a broad statement and focused on what is going to be achieved in the future (Burns, 2016). 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. 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 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

Research questions explore the various problems as well as issues related to the research. Their aim is to provide a brief explanation about a particular issue which must be addresses in an effective way. It tries to define a area of interest and not a declarative kind of statement (Doh and Kim, 2014). 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. 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 Santarelli, 2012). The following Gantt chart gives an effective explanation of the research’s activities as well as duration:

Activity per week

Rational of research:

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. 

Significance of Research: 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.

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. 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). There are about 30,000 stratus operating or running in Eastern Europe.

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 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.

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According to the David M Kirby, (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. 

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.

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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 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. 

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.

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 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 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.

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 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).

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 bbecasue it is a better and effective way of conducting research (ˆËœtef„Æ’nescu-Mih„Æ’il„Æ’, 2015).

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.

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.

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 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.

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.

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.

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.

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). In this research project, deductive research approach is more suitable because this gives a comprehension of various understanding of corporate social responsibility activities by means of empirical information. For this research, deductive approach will give the observation that are required in forming the opinion and views for the results in order to address all research objectives in an appropriate and proper manner.

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. 

The questionnaire is a best part of primary research that also considered or included for validity. 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.

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 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.

Participants: In this researcher project 30 respondents or participants are taken under consideration. This respondents are selected with the use of sampling method. There are different types of sampling method such as random, non-random and convenience sampling approach. Convenience sampling method gives a urgent and simple approach in order to identifying actual respondents or customers to the primary method of research (Burns, 2016). In simple word, 30 respondents were considered in the final questionnaire technique response with the participants identified via the convenience sampling approach. Characteristics of participants belongs to respondents such as friendly nature, participative etc. In this some respondents are refusals and Non-returns. In order to handle inaccurate behaviour of respondents, researcher try to ask simple questions to the

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 as it is cost-efficient, provide speedy results, so not require to be a scientist, no pressure and many other. All these are essential and valuable for the investigator to complete each and every activities in given time period.

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 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.

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 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).

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 aware 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

Q3) What are the relationship between new trends and developments happens in small 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

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

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

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

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?

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 aware about the development brought by new start-ups in Eastern Europe?

Frequency

Yes

20

No

10

Theme 1

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

15

Social development

15

Theme 2

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 and social 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

Theme 3

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

21

High standard of living 

9

Theme 4

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 21 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, the remaining 9 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.

Theme 5: Benefits gathered by Easter Europe after joining EU

Q5) What are the benefits gathered by Easter Europe after joining EU?

Frequency

Yes

20

No

10

 Theme 5

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

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

18

Lack of proper marketing strategy

12

 Theme 6

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 18 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, the remaining 12 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 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.

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

12

 Impact of culture over working style 

18

Theme 7

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 12 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, the remaining 18 respondents have different views as according to them Romania have observed impact of culture over working style due to lowering purchasing power of people.

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

15

Resources benefits

15

Theme 8

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 respondents are provide equal chances as economy of Romania provide two types of benefits such as social and resources. 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

16

Tax Incentives

14

Theme 9

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 16 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

Theme 10

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 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. 

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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).

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 success and growth within predetermined time period.

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.

Recommendations

From the above mentioned data, it can be recommended that She's have large impact on country growth and success. There are some recommendations to the country which are determined as under:

  • 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.
  • 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.

Students also like to read: Benefits of Reporting Systems

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