More companies choose to shut down, while fewer just halt activity

More companies decided to cancel their business activity in Romania in the first half of this year than in the same period of last year, according to data from the National Trade Registry (ONRC). There was a whooping six times increase in the number of firms which filed for voluntary cancellation of their business, to 118,000. The amount however also includes automatic cancellations. While the drastic measure of canceling activity altogether was chosen by more people, fewer chose to halt their activity on a temporary base. There were 42,000 temporary activity halts during the first half of the year, which was down 50 percent on the same period of last year. There were 902,000 firms registered in Romania at the end of June this year, our of which 264,000 registered individuals and 638,000 companies. The number of new company registration slightly dropped in this first half of the year, with only 58,600 new entries.