As many as of 79,251 new companies were established in Romania in the first six months of 2017, up 31.23 percent from H1 2016, of which over 15,000 in June alone, according to a press statement released on Wednesday by the National Council of Romania’s Privately-Owned Small and Medium-Sized Enterprises (CNIPMMR).
Data with the National Companies Registry, a total of 15,877 companies were set up in June, the month when a Start-Up Nation programme was launched.
Most companies are LLCs -12,809, certified individual traders – 1,847 and individual enterprises – 972.
The top five counties where most of the companies were set up were: Bucharest – 11,472 new companies, 19.34 percent more than in H1 2016; Cluj – 5,145 new companies, 62.71 percent more than in H1 2016; Timis – 3,588 new companies, 26.83 percent more than in H1 2016; Bihor – 3,291 registrations , 49.18 percent more than in H1 2016; Ilfov – 3,169 new companies, 32.15 percent more than in H1 2016.
The business areas with the highest number of the registrations were wholesale and retail trade (15,543 companies), agriculture, forestry and fishing (10,605) and manufacturing (8,117).
The fewest companies were set up in public administration and defence, public social security, just 12 companies in H1 2017.
“When we started the Start-Up Nation, one of the main objectives was to increase the number of newly established companies. The June results show an unprecedented increase, which confirms the entrepreneurial appetite in Romania. It also needs other similar programmes to develop the national entrepreneurial ecosystem,” according to CNIPMMR Chairman Florin Jianu, a former SMEs minister.
Application submission for the Start-Up Nation programme was open between June 15 and July 14. The main requirement for participation was the establishment date to be after January 31, 2017.