Wednesday, 21 October 2015
Opening a business in Romania
The good news: Romania has a Chamber of Commerce and Industry, and it not only has an English version to its website, but it seems to be updated fairly regularly (that is MASSIVE in Romania - kudos to the team behind it!). Here's the link: http://ccir.ro/en
The bad news: Romania also has a dedicated Department of Small and Medium Enterprises. You might think that that's good news with a lot of valuable resources for you, but that's where the bad news comes in. You guessed it: English does not exist, according to this website. http://www.aippimm.ro/
Ok, so it's the typical mixed bag. Curiously, I also discovered a very useful business overview with a stack of additional resources on the Romanian Embassy in India and New York's official minisites. Take your pick: http://newdelhi.mae.ro/en/romania/319 or http://newyork.mae.ro/en/romania/319
As a parting thought, I'll leave you with this fact from the above two sites: "97% of all Romanian companies are SMEs." Certainly it's quick to see even in Bucharest that there bitterly few big-name franchises like you'd be swamped with in any other major city. That leaves a LOT more room for entrepreneurship, and a LOT more competition for you. Good luck!