The survey showed companies with turnovers below EUR50,000 were the most affected, with a debt ratio of 81%. Companies operating in retail had a debt ratio of 90%, while those in healthcare had debt ratios of 49% and micro-enterprises offering professional services had debt ratios of 52%.
Of the 525,000 micro-enterprises in Romania (turnover below RON0.5 million), 37% had negative own capital in 2018. Current debt, of less than a year, stood at RON122 billion and accounted for 60% of total debt.
Micro-enterprises had receivables totaling RON58.8 billion. The top two sectors with the highest receivables were constructions (nearly RON10 billion) and professional activities (RON7.4 billion).
For companies with turnovers of up to EUR50,000 euro, the average number of days that it takes a company to collect payment after a sale has been made stood at 228, while the average number of days a company takes to pay its bills and invoices stood at 538. For the entire micro-enterprise sector, it took an average 164 days to collect receivables and 341 days to pay invoices in 2018.
Taxes and social security contributions paid by micro-enterprises in Romania stood at RON4.2 billion in 2018.