A number of 1,409 companies were in the process of being set-up in May.

The rate of setting-up startups slowed starting March, when just 96 such companies were founded, compared with 268 in January and 226 in February.

At the end of May, most startups had been established in Bucharest (6,319), Cluj (5,512) and Timis (2,652), the data showed. These three regions have held the top spots every year starting 2011, when this type of business was launched on the local market.

The fewest startups were founded in counties Covasna (159), Calarasi (198) and Mehedinti (249).

A SRL-D-type firm is a company founded by a shareholder who starts a business for the first time, gets a series of facilities when founding the company and can even access financing of maximum EUR10,000 from the state, being obliged to create at least two jobs.

The government launched Start-Up Nation in March 2017, a government program encouraging the creation of small and medium-sized companies (SMEs) offering non-reimbursable financing of RON200,000 per project, which led to a major slowdown in SRL-D set-ups.