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Barometer: The business climate in Romania has a predominantly optimistic but cautious attitude towards the economic evolution
The results of the Business Evolution Barometer 2024 reveal a clear picture of the business climate in Romania, indicating a predominantly optimistic, but cautious, attitude towards the prospects of economic developments this year.
Although 61% of respondents anticipate an increase in turnover, 27% predict a decrease, and 12% estimate that it will remain constant, showing that economic uncertainties determine moderation in development planning.
In terms of profit, 64% of participants forecast an increase, with a significant proportion (20%) expecting an increase of 10%-20%, reflecting an optimistic view. At the same time, only 23% anticipate a decrease in profit, and 13% believe that it will remain at the current level, signaling a dose of caution in the face of economic challenges.
The comparative analysis by region highlights local differences in confidence in the positive evolution of the economy: cities such as Suceava (44% confident) and Craiova (38%) are among the most optimistic, while Satu Mare is more skeptical, with only 18% confident.
In terms of growth strategies, expanding into new local markets was essential for 67% of companies in Bacau and 37% in Suceava, while in Constanta, opening new distribution channels was a priority for 39% of respondents.
Business Evolution is the conference road show organized for over 16 years by Doingbusiness.ro for the development of the business environment in Romania and which promotes solutions and ideas, coming from the most performing companies, their leaders and specialists. The mission of Business Evolution is to explore solutions and resources for the sustainable development of companies in the context of current challenges. The topics of debate often include financing and digitalization of companies, the use of AI in sales and marketing, strategies and tactics for increasing sales or motivating employees, adapting to the constantly changing requirements of customers and the market.
For the 2024 Business Evolution Barometer study, responses were collected from entrepreneurs and business people who participated in the Business Evolution conferences organized by Doingbusiness.ro in 2024 in: Craiova (April 3), Suceava (April 24), Satu Mare (June 11), Bacau (September 25) and Constanta (October 15).
Almost 800 managers and entrepreneurs from companies with a turnover between 250 thousand euros and over 500 million euros participated in these events. To carry out the research, responses to a questionnaire consisting of 12 questions were collected. The 677 responses collected came mainly from respondents from urban areas.
Demographic data are detailed at the end of this report. The data provides a clear picture of the evolution of turnover, profit, number of employees and other important aspects of the local business environment in the municipalities where the conferences took place, as well as in neighboring counties. The comparative analysis highlights the particularities of each region and provides perspectives for 2024