Romania’s Government adopted a bill providing that small and medium-sized companies can access non-reimbursable funds of up to RON 50,000 (EUR 11,100) to promote their activity on external markets.

The money comes from the state budget. Every beneficiary can access maximum RON 50,000 per year, and maximum 500 beneficiaries will get funds annually.

The money can be used by companies to take part at international fairs taking place abroad, create their visual identity (slogans, brand), or create a website or a mobile app. Companies can also use the money for taking part in trainings on how to promote their activity.

“Internationalization is oxygen for many of the small and medium-sized Romanian companies,” said Florin Jianu, Minister for Business, Trade and Entrepreneurship. He explained that only 4.67% of the small and medium firms in Romania carry out export activities.

The Government also plans to adopt another program to support the creation of new companies. The program is called Start-up Nation Romania and may provide non-reimbursable funds worth up to RON 200,000 (EUR 44,000) to new businesses. The Government plans to finance some 10,000 startups through this program in 2017.

editor@romania-insider.com