Romania, a country once shrouded in the veils of communism and dictatorship, has emerged over the years as a burgeoning economic force in Europe. With its picturesque landscapes, rich history, and increasingly cosmopolitan cities, it’s a country that offers more than meets the eye. But what really makes Romania stand out in the business landscape is its increasingly friendly investment environment. If you’ve ever considered opening a business in Romania, this is the article you need to read.
A Progressive Business Environment
- Ease of Doing Business: In recent years, Romania has made impressive strides in simplifying its bureaucratic systems, making it easier for entrepreneurs to start and operate businesses.
- Low Corporate Taxes: Compared to other European countries, Romania offers a very competitive 16% corporate tax rate. For small businesses with a turnover of less than €1 million, the rate is an even more attractive 3%.
- Skilled Workforce: With a well-educated populace and competitive labour costs, Romania provides an ideal setting for both startups and established companies to thrive.
Why Romania is a Magnet for Tech Companies
- Quality Infrastructure: Romania boasts some of the fastest internet speeds in the world. This is particularly attractive for tech companies that require robust and reliable connectivity.
- Talent Pool: Romanian universities are churning out a large number of IT and engineering graduates, presenting a ripe opportunity for tech companies to hire skilled labour at competitive rates.
- Government Incentives: Various grants and incentives are available for tech companies, especially those focusing on innovation and research.
Access to a Vast Market
Romania’s strategic location at the crossroads of Central, Eastern, and South-eastern Europe provides an invaluable gateway to a market of over 500 million people. The country is part of the European Union, facilitating trade and offering easier access to European markets.
Cultural Richness as an Added Perk
Romania’s rich cultural heritage and scenic beauty serve as a refreshing backdrop to the business hustle. From the Carpathian Mountains to Black Sea beaches, the country offers a wide array of leisure activities that can enhance your quality of life while running your business.
A Few Considerations
While Romania offers numerous advantages, entrepreneurs should also be aware of some challenges, such as:
- Language Barrier: Although English is widely understood, especially among the younger population, it’s not the native language. Learning some basic Romanian can go a long way.
- Regulatory Changes: Like any developing economy, regulations can change, and it’s essential to stay updated.
Final Thoughts
Romania offers a fertile ground for business investment with its progressive business environment, rich talent pool, and strategic location. For those looking to scale new heights in business, Romania stands out as an attractive option worth considering.
Opening a business in Romania is not just an opportunity to capitalize on a growing market but also to be part of a vibrant, emerging European power.
If you’re an entrepreneur eyeing Europe, Romania should be on your radar. With its unique blend of opportunities and culture, Romania is more than just a country—it’s a promising future for your business.
