CITR: Half of Romanian companies with real impact in the economy face challenges

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Nearly half of domestic companies with real impact in the economy are facing a difficult situation, a trend maintained in the last four years, CITR Group study shows, a press release informs.

The study was conducted taking into account approximately 640,000 companies, of which only 3 percent have total assets of over EUR 1 million and are not insolvent.

At the same time, a CITR market analysis made on a sample of almost 100 entrepreneurs of companies with impact on Romanian business, from seven regions, shows that 69 percent of their managers blame the poor and inefficient management for company’s activity difficulty, rather than the economic context (orders decrease, lower customers number, contracting markets).

Thus, according to Eurostat’s “Value of Failure” study, financed by the European Commission, 92 percent of business people, who have gone through a failure, give up entrepreneurship, although they are in the most appropriate experience moment and have a better chance of success with a new business. according to experts.

“Under these conditions, when half of Romanian companies with impact in local GDP are facing difficulties and the market does not generate so many entrepreneurs on how many fail, we look passively at a great loss for our economy. The business environment does not encourage the entrepreneur who failed first, although failure is definitely more valuable than passivity,” Alexandru Tanase, coordinator associate CITR stated.

According to CITR, the failure is still seen as a life sentence in Romania. The entrepreneur is stigmatized and immediately isolated, instead of supporting for recovery. In EU, however, he is seen as a huge resource that businessman, after he managed to overcame a difficult moment and he has the power to start from scratch.

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