The oldest family businesses in Romania are only quarter-century old

The oldest family businesses in Romania have a history of just over 25 years, due to the social and political context, and many of them face their first major test, namely passing control to the next generation of leaders, according to EY Romania. “However, we can also see in the successful Romanian family businesses the specific characteristics necessary for long-term development: openness to innovation and adaptation to the local and world market realities,” says Gabriel Sincu, the coordinator of EY Romania’s consultancy division for family businesses. According to EY, Romanian family businesses are more open to accessing external financing, either by listing their shares on the capital market or by drawing investment funds as minority shareholders. “The digital economy area is a huge incubator for young entrepreneurs who will lay the foundations of the future successful family businesses in Romania,” Sincu believes. editor@romania-insider.com