Entrepreneurs are calling the shots

Romanian entrepreneurship has grown in recent years, indicating that the Romanian economy has begun to mature. Entrepreneurs are the ones who „are setting the clock“ in the economy, as they identify business opportunities, find solutions to overcome difficulties, create jobs and they are important contributors to the state budget.

Entrepreneurs are the innovators. But they have a fundamental need: stability and predictability of the legal framework, especially the fiscal area. Overnight changes of fiscal rules make entrepreneurs reluctant to invest and inefficient, forcing them to abandon business ideas and projects already developed. The administrative burden and the quality of the business environment are other precious things for entrepreneurs.

A quick diagnosis of the ease of doing business in Romania shows that the state should be more ambitious in supporting the business environment and increasing the competitiveness of Romanian companies.

This could put an end to the current trend of exporting successful businesses to countries with supporting network, such as business incubators and easy access to all kinds of resources. Thus, Romania ranks 45th out of 190 countries at the ease of doing business, according to the World Bank‘s „Doing Business“ aggregate index. Out of the 10 evaluated domains, the weakest results are recorded for dealing construction permits (150 out of 190 countries!) and getting electricyt (147). Starting a business (64), protecting minority shareholders (57), insolvency procedures (51) are other critical areas for Romanian entrepreneurs. The best areas are easiness of trading accross border (1), enforcing contracts (17), getting credit (20), paying taxes (42) and registering properties (45).

The state should urgently change the attitude towards the private, to pay attention to its needs and to place entrepreneurs in the middle of the system. Improving competitiveness is the solution for healthy and sustainable growth.