Signs of economic revival? Fewer Romanian companies suspend activity in January

Fewer Romanian companies suspended their activity in January this year compared to the same month in 2010, which could be one of the signs of incipient economic revival. The number of companies that stopped activity went down by 55.7 percent, to around 2,600, compared to the same month last year, according to the National Trade Registry (ONRC). The biggest number of companies having suspended activity was in Bucharest (295), followed by Prahova – 125 and Arad, 122. The number of companies having asked for voluntary cancellation reduced by 68 percent, to 280. Moreover, more new companies were created in January – 7,545, compared to 7,403 companies registered in January last year. As many as 66,000 companies suspended activity in Romania last year- down 60 percent on the year before, while 21,000 became insolvent. The cost for suspending the activity of a firm in Romania stays between RON 500 and RON 1,500 (EUR 117 and EUR 352). This option is mostly chosen as it allows the re-start of activity when market conditions re-become favorable, while the shutdown is permanent. editor@romania-insider.com