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KeysFin barometer: Businessmen expect insolvency increases

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Romanian economy risks deepening of financial blocking, when the number of companies facing financial difficulties grows from one month to the other, according to an analysis made by KeysFin, which points out that the mirage of economic growth risks to block business relations in Romania.

KeysFin published on Tuesday the barometer “Insolvency in Romania. Causes, effects and prospects in 2018,” and draws an alarm signal about the danger of insolvencies.

107 of the over 150 businessmen interviewed for the Frames Media Network and KeysFin barometer, in an opinion poll about the investors’ perception on insolvencies, made for Sierra Quadrant, one of the main players in the insolvency market.

In the opinion poll made over June 15-20, businessmen declare there will be an increase of the number of insolvencies in the next period, on the background of the evolution of financial blocking in economy.

“Payment delays are growing,  and this situation strongly affects the small and middle company sector (90% of economy), especially companies with low financial safety degree, which live from one invoice to the other,” is one of the conclusions of the study.

According of data published by the National Office of the Trade Registrar (ONRC), 9,102 companies became insolvent, 8.73% more than last year. This tendency was maintained in the first 5 months of 2018, when the number of insolvent companies grew by 11.97% compared to the same period of 2017, reaching 3,686.

According to ONRC data, beyond the situation of insolvencies, 8,364 companies suspended their activity over January-May 2018 (on the rise by 30.81% compared to the same period of last year), of which 1,406 in May. Other 15,751 firms were dissolved in the first 5 months of 2018 (59.49% increase against 2017), and of them, 3,098 companies were dissolved in May.

The barometer was made by Frames Media Network & KeysFin over June 15-20, on a sample of 150 companies, small and large companies, Romanian and foreign firms in fields like IT, industry, human resources, constructions, tourism, telecommunications, agriculture, etc.

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