The number of new companies registered in Romania went down by 19% last year, to 101,600, which is the lowest level since 2008. In 2013, almost 125,000 new firms were recorded in the country, according to the Trade Registry’s Office (ONRC).

The steepest decline was in the agriculture sector, where only 4,100 new companies were set up in 2014, down from 21,700 in 2013. This was mainly because the Romanian authorities lifted the restrictions for foreigners who wanted to buy properties in Romania. Until last year, foreigners could not buy land as individuals in Romania, so they had to set up firms for this.

The number of new enterprises also significantly declined in the professional and scientific activities sector, in construction, in manufacturing and the hotels and restaurants sector.

On the other hand, 3% more new firms registered in the commerce and retail sector, about 10% more in IT&C and 19% more in education.

editor@romania-insider.com