“Nearly half of the Romanian companies with real impact on the economy are facing difficulties, a trend which was maintained in the last four years,” according to the study, which was based on the analysis of 640,000 companies, of which only 3% have total assets exceeding EUR1 million and are not insolvent.
At the same time, a market survey ordered by CITR shows that 69 in 100 managers say the companies’ difficulties are rather triggered by bad management than by the economic context.
According to “Value of Failure” study, based on Eurostat data and financed by the European Commission, 92% of businessmen who experienced failure quit business, although experts say they are in the most favorable moment in terms of experience and have higher chances to succeed with a new business.
“The society and the business environment do not encourage an entrepreneur who failed the first time, although failure is definitely more valuable than passivity,” said Alexandru CITR coordinating associate.