REDUCING REGIONAL ECONOMIC GAPS IN ROMANIA BY PROMOTING INNOVATIVE ENTREPRENEURSHIP: A PROPOSAL FOR ACTIONS

Innovative entrepreneurship is a key aspect of the business environment in both the European Union and Romania. The implementation of appropriate support measures can foster economic growth, technological advancement, and job creation, ultimately contributing to regional and national economic prosperity. The provision of adequate support can act as a catalyst for economic growth, technological advancement, and job creation, ultimately contributing to progress on both regional and national levels. Encouraging and nurturing innovative local entrepreneurs in Romania presents a strategic opportunity to foster regional economic diversification and drive sustainable development. To ensure effective support, efforts should focus on facilitating resource access, fostering inter-sectoral collaboration, and promoting entrepreneurial skill development. Effective support for innovation in Romania should prioritise facilitating resource access, fostering inter-sectoral collaboration, and promoting entrepreneurial education. Policies aimed at reducing regional economic disparities in Romania should place a strong emphasis on infrastructure development and widespread access to technology. The literature provides empirical evidence supporting the significance of these factors in stimulating regional economic growth and provides examples of nations that have been effective in this area. Effective policy implementation necessitates a collaborative approach, fostering coordination between central and regional governments while engaging the private sector.