Overview of Government Support
Government support in regards to running a business in Romania is one of the most nuanced topics in registering and maintaining a business here.
Being a member of the European Union, Romania benefits from a significant inflow of funds from the EU development funds, and social funds, of over 29.2 billion EUR, however with absorption being under the EU average at about 60%, 10% points lower.
While this may seem like bad news initially, where there's a will, there's a way. This is the case for many business fields that the EU wants to support in Romania, such as agriculture, energy, and industry.
This means you can directly benefit from non-refundable government funding, independent of your country of origin (Even if you're North Korean, Swedish, or from Ghana), as long as your Romanian company wins and respects the project plans proposed to the EU.
The cherry on the cake is that you don't even need to be the winning party. Companies receive significant funds to allocate to digitalization in their fields, giving ample opportunity to digital enterprises that build websites, online platforms, and marketing companies to get them accessible and known by the general public.
European Funds Structure
Green Transition - 15.32 Billion EUR allocated
The majority of the allocation of European funds in Romania in 2023, at over 52.5%, meaning over 15.32 billion dollars, follows the general strategic plan of the EU to ensure energetic independence and transition to green energy.
This means a lot of jobs, and opportunities for entrepreneurs working in fields from manufacturing to energy itself. So, if you're an expert electrician or know your way around the energy field, running a digital business in this sector shows significant promise in Romania.
Digital transformation - 1.89 Billion EUR allocated
The second largest allocation sector, at about 1.9 billion EUR, is the "digital transformation" of Romania, meaning, adopting technology to improve efficiency in all sectors. This involves creating websites, building platforms to automate tasks, and making the transition to a modern, technologically capable country.
From setting up a delivery system for a pizza place using WordPress to creating complex industrial automation tools, digital entrepreneurs can certainly reap the benefits of the influx of funding opportunities.
Governmental Sector Funds - 11.97 Billion EUR allocated
Approximatively 12 billion EUR were allocated in order to facilitate improving the governmental sector, from building sustainable infrastructure, to facilitating access to key resources, including working on e-Residency programs and more.
While this doesn't directly affect private enterprises, the government must auction off any project that has any financial value, and any company, independent of shareholder structure (with foreign shareholders), in most fields.
Auctioning off is simple, can be done from anywhere, and provides huge opportunities. With government entities paying 100,000 EUR for WordPress installations, there surely is a project that will fit you :)
National Programs
While the EU covers a vast majority of the funds allocated to growing the region, the Government also implements key programs to facilitate entrepreneurs in starting and modernizing their businesses.
From allocating money to the entrepreneurial field through grants, the SRL-D program, which gives you 10,000 EUR in non-refundable money and tax reductions if you decide to start your first company, to various projects to facilitate youngsters in starting a business.
Free registration for students
If you're a student at a university in Romania (although the law doesn't deny you this right for foreign universities either), you can be excused from paying the 30 EUR official monitor publishing fee, notary fees, as well as other fees when starting your business.
While this is not a huge incentive, with the savings not being more than $50 for most people, it's never a bad idea to save some money, am I right?
For that matter, Incorpo.ro does provide that for students, and we're planning to start a programme to subsidize the entire cost of registration, including QES signature issuance, to help students enterprise in the digital field.
Start-up Nation
Start-up nation was an attempt of Romania to facilitate