Half of Romanian companies secured financing through European programs or state aid schemes
Just over half of Romanian companies (51%) have secured financing through European programs or state aid schemes, according to a survey conducted by EY.
Roughly 60% of companies that previously accessed state aid schemes and European funds reported annual revenues of over EUR 10 million, while only 13% reported revenues of less than EUR 1 million, the survey found.
Manufacturing companies are the most active in accessing these funds. The second most active sector is the energy sector, with 63% of respondents from this sector stating they had accessed state aid schemes and European funds.
"State aid schemes and European funds are essential for supporting Romanian companies in the face of current economic challenges. These financial mechanisms provide stability, stimulate innovation and sustainable development, and contribute to increased competitiveness in local and international markets. Investments in digitalization and green technologies are fundamental for ensuring a sustainable and resilient economy," said Sebastian Popescu, Partner and Coordinator of the Grants and Incentives Consulting Service Line at EY Romania, cited by ZIarul Financiar.
Romanian companies prefer to use European funds as an external source of financing. Of the companies participating in the EY study, 61% accessed European funds granted through national authorities (54%) or directly from the European Commission (7%), while only 39% accessed national funds.
The survey also revealed that smaller companies access European funds provided through national authorities to a much greater extent compared to larger companies.
Regarding the purpose of investments, two main directions stand out: digitalization and innovation, alongside green investments. Only 9% of the companies participating in the EY study mentioned that they had no investment plans in these areas.
The EY Romania survey analyzed five aid schemes, namely the one for major investments in the economy; the scheme for the manufacturing industry; the scheme for the production of construction materials; and the scheme for the food industry, named Investalim.
A total of 28% of surveyed companies were unaware of these financial mechanisms. The most recognized aid scheme was the state aid scheme for major investments in the economy, granted by the Ministry of Finance, and acknowledged by 30% of the surveyed companies. The remaining schemes had a recognition rate of under 20% each.
(Photo source: Arlawka Aungtun | Dreamstime.com)
