Some 17,251 new companies were set up in Romania in the first two months of this year, down 11.3% over the same period of 2016, according to the Trade Registry’s Office (ONRC).

The number of new limited liability companies, called SRL in Romania, went down by 18% year-on-year to over 11,650. They represented two-thirds (67.6%) of the new firms established in the first two months of the year.

Meanwhile, the number of self-employed persons, called PFA in Romania, increased by 8.2% year-on-year to over 3,540.

Bucharest ranked first among the cities and counties in Romania, with 2,638 registrations during this period, down 17.9% year-on-year. Most of the newly established companies are active in retail, namely 4,168 companies.

Almost 106,000 new firms were set up in Romania last year, down 6.4% compared to 2015.

The Government aims to encourage Romanians to set up new companies via a state program called Start-up Nation. The program will grant up to RON 200,000 (EUR 44,400) non-reimbursable financing to all entrepreneurs who set up new companies and hire at least two people. It may start at the beginning of May.

editor@romania-insider.com