analysis of the romanian economy

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  • 8/3/2019 Analysis of the Romanian Economy

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    Analysis of the Romanian economy, as a complete universe of companies

    and at some of the details about who does what type of business in this

    country.

    Q: How many companies are in Romania?

    A: In September 2011 in Romania were 934,000 companies. The total Romanian business

    market is therefore somewhat smaller than this, considering that not all those companies

    are actually doing business and some of them have actually stopped their activity in the end

    of 2010. As a matter of fact in 2010 only 612,000 companies submitted some form of fiscal

    declaration to the national authorities. The vast majority of these companies are

    microenterprises.

    Q: What is the main type of company present in Romania?

    A: The most frequent form of business is the Limited Liability Company. In terms of legal

    form of incorporation, 97% of all companies registered in Romania are Limited Liability

    companies, 2.3% are Shares Based companies, 0.7% is referring to other types of legal

    persons.

    Q: What was the impact of the financial crisis on the companies status and on their

    capability to remain functional?

    A: In September 2011 there were approximately 13,750 companies, 10% less than the

    previous year, that changed negatively their status: 4,300 companies fell under the law

    85/2006, other 2,800 entered in a liquidation status, 2,000 companies have been radiated

    and 2500 went into insolvency procedure and bankruptcy.

    Q: How much do the Romanian companies currently owe to the state budget?

    A: In Q3 of 2011, 33.30% of the companies registered debts to the state. Its interesting to

    note that 4.60% of all indebted companies owe more than 10,000 euro each, while 5.10% of

    them owe less than 250 euro each.

    Q: Which are the sectors with the largest number of registered companies?

    A: In Romania, out of all commercially active companies, the industry with the largest

    number of companies is that ofRetail sale in non-specialized stores with food, beverages or

    tobacco predominating (7.50%). Construction of residential and non-residential buildings

    (less than 3.60%) and Freight transport by road(less than 3.30%) are the followers on the

    list according to the number of registered companies.

    Q: Which are the counties with the largest number of active companies?

    A: Bucharest is highly disproportionate in terms of both number of companies and value of

    businesses. Approximately 151,000 companies are legally registered in all 6 districts of

    Bucharest (not counting Ilfov adjacent area) while in all other counties, the number of

    registered companies ranges from 29,240 to 4,260. The county seconding Bucharest is

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    Timis, located in the west part of the country. The county with the smallest number of

    companies is Teleorman.

    Sources: ICAP Romania