RSS
Romanian IT companies, the best represented sector in the Deloitte Technology Fast 50 Central Europe
The Romanian leading companies in the technology sector saw their revenues grow by an average 400 percent over the past five years, with IT being the best represented sector in this ranking, Deloitte Romania country managing partner Ahmed Hassan told a specialist conference on Monday.
"Romania is on the list of the countries with a developed technology. The technology companies that saw the fastest growth in terms of revenues advanced by an average of 400 percent in the past five years. Most entrants are from the IT development sector. The Romanian companies that entered the Fast 50 ranking had innovation as a strong point. They are headed by entrepreneurs who invested their own funds and also had ideas. People are the biggest challenge, after all. In my opinion, the bigger players who will come to Romania will do so for the people here. Big players are looking for skilled people," said Hassan.
According to data presented today by the Deloitte Romania representative, more than half of the Romanian CEOs said they plan to allocate more money for R & D in the next two years.
"Some 52 percent of company executives intend to allot money for research and development (R & D). Romania didn't have very good results in this area. Romanian companies have the least R & D spending in comparison with other EU countries. The main reason is the absence of Government incentives for this segment. Things will change provided that the Government offers a tax break for R & D," was Ahmed Hassan's advice.
According to Deloitte Romania recent statistics, Romania ranks third in the Deloitte Technology Fast 50 Central Europe - a program that recognises and profiles fast growing technology companies in the region - with six entrants, based on revenue growth obtained over a five-year period. Five of the entrants are software developers and one is an Internet company.
The representatives of the Romanian companies present in the Deloitte ranking said the main challenges they had to face are the decapitalisation of the Romanian industry and the local market's lack of maturity, but on the other hand, they admitted that they didn't use the existing tax incentives, focusing on business growth rather than on revenue and cost optimization.
The average growth of the companies present in the Fast 50 ranking rose to 698 percent from 671 percent in 2013. However, the advance is far below the average of 1,026 percent seen in 2012. Ten countries contributed to the Fast 50 ranking this year: Poland (with 17 companies), Hungary (ten), Romania (six), Croatia (four), the Czech Republic, Lithuania and Slovakia (each with three companies), Serbia (two), Bulgaria and Estonia (one company each).
Of the 50 companies, 26 are there for the first time, ten advanced in the rankings, and 14 went down. This time again, the ranking is dominated by software companies (26), followed by Internet companies (12) and telecommunications / networking businesses (six).