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Study: 78% of the Romanian managers and entrepreneurs consider that the main opportunity for companies are European funds

The companies have high hopes for European funds, so that 78% of the managers and entrepreneurs consider that the main opportunity for the companies are European funds, and the best placed industries in the context of the crisis of Covid-19 are IT&C, pharma and e-commerce, shows the study Termene.ro, platform with updated info about the financial and judicial data of the companies in Romania. 

The objective of the study ‘ Covid -19, where to?’ is to better understand the situation and the needs of the companies in Romania. The next positions according to the companies as opportunities are access to private financing, access to specialists and acquisition of other companies.

From the perspective of business opportunities in the context of the Covid-19 crisis, 39% of the entrepreneurs and managers think the IT&C sector is the industry best positioned on short and medium term in Romania, being followed by pharma ( 30% of the interviewees) and e-commerce (26%).

The governmental officials promised a series of solutions for the financing of the businesses which lost their potential for growth due to the covid-19 crisis. For example, the companies in the hospitality industry were promised that the financing programme through governmental grants will become operational in October, as more than 30% of the industry cannot start activity again due to the lack of financial flows and reduced demand.

The question ‘ what influenced your operations over the last six months most, in the context of covid-19 crisis?’ had the following answers: 46% of the companies managers chose ‘ reduced demand’. For 21% of the companies, the biggest pressure was due to home isolation during lock-down and 17% were influenced by lack of financial resources.

The study Termene.ro was made after the first six months of pandemics, context which influenced the evolution of the Romanian economy.The figures in the most recent Termene.ro analysis show that, in 2019 the economic growth is by 20% higher than in 2017 and by approximately 50% higher than in 2015 and 2016. 

At present, the macro-economic  situation produced by the covid-19 pandemics makes any estimate referring to economic contraction very difficult to achieve. However, optimistically, over 50% of the interviewees of the study Termene.ro said that the stability of the business was very little affected (23%) and little affected (27.8%) by the delays of bills payment by clients. As a whole, the situation is balanced: for 30% of the interviewees the stability of the business is affected  in an average measure, while for almost 20% of the companies, the influence of the crisis is high and very high’ the study shows.

As regards expectations on a short term, less than 20% of the company managers are confident or very confident that things will recover economically this autumn, as compared to February 2020. 

At national level, the companies affected by the pandemics could require Certificate for emergency (CSU) as follows: CSU type 1 for the companies which stopped totally or partially their activity as a result of the decisions issued by the authorities during the emergency state; CSU type 2 for the companies which diminished their collection/income in March or April 2020 by over 25% as compared to January and February 2020. 

Up to 15th September ( the deadline for certificate request) there were over 60,000 certificates for the emergency situation, meaning almost one fifth of the turnover obtained at national level in 2019.

Thus, at least one fifth of the income generated by the Romanian companies (319 billion lei obtained in 2019) was highly affected by the macro-economic situation of 2020 and there is the risk of significant reductions.