EY: Most Romanian startup entrepreneurs earn less than EUR 1,000 per month

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Almost three quarters of the Romanian startup entrepreneurs earn less than EUR 1,000 per month, while 38 percent have incomes below EUR 500, reveals a study on the Romanian startups conducted by EY Romania and Impact Hub and presented on Tuesday during a press conference.

Barometer analyzes the answers of 301 founders of a startup in Romania regarding the development status of the five EY pillars of supporting entrepreneurship – taxation and regulation, access to finance, coordinated aid, culture and entrepreneurial education.

The survey shows that the startup entrepreneur has 25 – 35 years old, works 10 hours per day, is at the first entrepreneurial initiative and attends at least once a week a networking event

“71 percent of the startup entrepreneurs earn less than EUR 1,000 per month, 38 percent – less than EUR 500. Half of them are running a startup with less than a year of activity. 54 percent are associated with at least one founder in the business, and 61 percent are at the first entrepreneurial initiative. They work ten hours a day on average to grow the business,” EY barometer reads.

Most startups have one founder, but there are situations where the company was founded by more than three entrepreneurs (5 percent).

According to Eurofound study, Romanian employees have worked most in 2014, compared to the EU employees, the number of working hours reaching 41 per week. Although most of them spend 10 hours at the office, while 27 percent of entrepreneurs are working even 18 hours every day.

The business position most often cited as the most interesting for entrepreneurs is the ‘general manager’, followed by ‘marketing’ and ‘PR’ at the other pole being ‘financial accounting’ and the ‘HR (human resources)’ positions.

EY notes that the entrepreneurs in the IT industry are in a lesser extent at first entrepreneurial initiative (48 percent), most of them (52 percent) are at least at the second initiative. Education is the industry in which the startups number created by junior entrepreneurs equals those of senior entrepreneurs. Most startups of junior entrepreneurs are in the creative industries (71 percent).

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