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ERASMUS+ KA219 ”LEARNING PLATFORM: Young people entrepreneurship skill development possibilities” 2015 – 2018 SURVEY – The current status of entrepreneurial environment in ROMANIA June – July 2016

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Page 1: ERASMUS+ KA219 ”LEARNING PLATFORM: Young people entrepreneurship skill development … · 2016-08-21 · ERASMUS+ KA219 ”LEARNING PLATFORM: Young people entrepreneurship skill

ERASMUS+ KA219 ”LEARNING PLATFORM: Young people

entrepreneurship skill development possibilities” 2015 – 2018

SURVEY – The current status of

entrepreneurial environment in ROMANIA

June – July 2016

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ERASMUS+ KA219 ”LEARNING PLATFORM: Young people entrepreneurship skill development possibilities” 2015 – 2018

SURVEY – THE CURRENT STATUS OF ENTREPRENEURIAL ENVIRONMENT IN ROMANIA

2

THE SURVEY

This survey is prepared within European Union Erasmus + KA219 “Learning

platform- Young people entrepreneurship skill development possibilities”

(Project Nr. 2015-1-LV01-KA219-013417) project which is carried out among the

countries “Latvia, Spain, Croatia, Romania and Turkey”. It aims to investigate the

current status of entrepreneurial environment in ______(your country).

Please give 1-5 different scores (1-never/2-rarely/3-sometimes/4-often/5-

always) according to your recognition on each issue.

We thank you in advance for completing the questionnaire.

Name Surname:

____________________

Company

Name:_____________________

Business Sphere:

_____________________

Number of

employees:____________________

Foundation Year of the Company

_______________

5- always 4- often 3-sometimes

2 -rarely 1- never

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A. Financial support 5 4 3 2 1

A01 There is sufficient equity funding available for new companies.

A02 There is sufficient debt funding available for new companies.

A03 There are sufficient government subsidies available for new companies.

A04 There is sufficient funding available from private individuals (other than founders) for new companies.

A05 There is sufficient venture capitalist funding available for new companies.

A06 There is sufficient funding available through initial public offerings for new companies.

B. Government policies 5 4 3 2 1

B01 Government policies consistently favor new companies.

B02 The support for new companies is a high priority for national policy.

B03 The support for new companies is a high priority for local policy.

B04 New companies can get most of the required permits and licenses in about a week.

B05 The amount of taxes is NOT a burden for new companies

B06 Taxes and other government regulations are applied to new companies in a predictable and consistent way

B07 Government policies aimed at supporting new companies are effective

C.Government programs 5 4 3 2 1

C01 A wide range of government assistance for new companies can be obtained through contact with a single agency

C02 Science parks and business incubators provide effective support for new companies

C03 There are an adequate number of government programs for new businesses

C04 The people working for government agencies are competent and effective in supporting new companies

C05 Almost anyone who needs help from a government program for a new business can find what they need

C06 Government programs aimed at supporting new companies are effective

D. Research and development transfer 5 4 3 2 1

D01 New technology, science, and other knowledge are efficiently transferred from universities and public research centers to new companies

D02 New companies have just as much access to new research and technology as large, established companies.

D03 New companies can afford the latest technology.

D04 There are adequate government subsidies for new companies to acquire new technology

D05 The science and technology base efficiently supports the creation of world-class new technology-based ventures in at least one area

D06 There is good support available for engineers and scientists to have their ideas commercialized through new companies

E. Commercial and professional infrastructure 5 4 3 2 1

E01 There are enough subcontractors, suppliers, and consultants to support new companies.

E02 New companies can afford the cost of using subcontractors, suppliers, and consultants.

E03 It is easy for new companies to get good subcontractors, suppliers, and consultants

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E04 It is easy for new companies to get good, professional legal and accounting services

E05 It is easy for new companies to get good banking services (checking accounts, foreign exchange transactions, letters of credit, and the like).

F. Access to physical infrastructure 5 4 3 2 1

F01 The physical infrastructure (i.e. roads, utilities, communications and waste disposal) provides good support for new companies

F02 It is not too expensive for a new firm to get good access to communications (phone, Internet, etc)

F03 A new company can get good access to communications (telephone, internet, etc) in about a week.

F04 New companies can afford the cost of basic utilities (i.e. gas, water, electricity, and sewer).

F05 New companies can get good access to utilities (i.e. gas, water, electricity and sewer) in about a month.

G. Market openness 5 4 3 2 1

G01 The markets for consumer goods and services change dramatically from year to year

G02 The markets for business-to-business goods and services change dramatically from year to year

G03 New companies can easily enter new markets.

G04 New companies can afford the cost of market entry.

G05 New companies can enter markets without being unfairly blocked by established companies.

H. Cultural and social norms 5 4 3 2 1

H01 The national culture is highly supportive of individual success achieved through own personal efforts

H02 The national culture emphasizes self-sufficiency, autonomy, and personal initiative

H03 The national culture encourages entrepreneurial risk-taking

H04 The national culture encourages creativity and innovativeness

H05 The national culture emphasizes the responsibility that the individual (rather than the collective) has in managing his or her own life

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THE COMPANIES FROM VALCEA COUNTY

INVOLVED IN THE SURVEY

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FINANCIAL SUPPORT

Conclusion:

There are not sufficient funding for new companies (most of the

answers are under 3)

0

0,5

1

1,5

2

2,5

3

3,5

A01 A02 A03 A04 A05 A06

FINANCIAL SUPPORT

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GOVERNMENT POLICIES

Conclusion:

All the answers are scored under 3, as we can see in the chart, which

mean that the government policies need to be improved. The support

for new companies is not a national policy, not a local policy. The

bureaucracy is still a problem for entrepreneurs (new companies get

most of the required permits and licenses in a long time). The taxes for

new companies are big. The government policies should support more

the new companies.

0

0,5

1

1,5

2

2,5

3

3,5

B01 B02 B03 B04 B05 B06 B07

GOVERNMENT POLICIES

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GOVERNMENT PROGRAMS

Conclusion:

Even if there are government programs, there are not enough known

and used for the new companies. Most of the government programs

aimed at supporting new companies are not effective.

0

0,5

1

1,5

2

2,5

3

C01 C02 C03 C04 C05 C06

GOVERNMENT PROGRAMS

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RESEARCH AND DEVELOPMENT TRANSFER

Conclusion:

The larger companies have more access to new research and

technology then smaller and new companies.

0

0,5

1

1,5

2

2,5

D01 D02 D03 D04 D05 D06

RESEARCH AND DEVELOPMENT TRANSFER

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COMMERCIAL AND PROFESSIONAL INFRASTRUCTURE

Conclusion:

The professional legal and accounting services for new companies are

good, it is also easy for new companies to get good banking services.

0

1

2

3

4

5

E01 E02 E03 E04 E05

COMMERCIAL AND PROFESSIONAL

INFRASTRUCTURE

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ACCESS TO PHYSICAL INFRASTRUCTURE

Conclusion:

The roads and utilities don’t provide enough support for new

companies, but the access to communication is very easy, we have

good telephone, internet services and at good prices.

0

0,5

1

1,5

2

2,5

3

3,5

4

4,5

F01 F02 F03 F04 F05

ACCESS TO PHYSICAL INFRASTRUCTURE

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MARKET OPENNESS

Conclusion:

For the new companies it is not easy to enter new markets and

sometimes the new companies are unfairly blocked by established

companies.

The changes of the markets for consumer goods and services and the

markets for business to business goods and services are not very evident.

0

0,5

1

1,5

2

2,5

3

G01 G02 G03 G04 G05

MARKET OPENNESS

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CULTURAL AND SOCIAL NORMS

Conclusion:

The national culture encourages entrepreneurial risk and

innovativeness in some situations, but not always.

0

0,5

1

1,5

2

2,5

3

H01 H02 H03 H04 H05

CULTURAL AND SOCIAL NORMS

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MORE CONCLUSIONS

http://www.ey.com/RO/en/Home/PR-2015_ESO-15_13-May-15

EY Romania's "Entrepreneurs Speak Out "– Entrepreneurship Barometer 2015

62% of entrepreneurs believe that entrepreneurial education has improved in Romania in the last year, compared to 58% in the 2014 edition of the study

Access to funding is difficult or very difficult for 82% of entrepreneurs 50% of respondents say that fiscal issues are the greatest obstacle in developing a

business in Romania 65% of entrepreneurs believe that business failure is shun by society

34% of Romanian entrepreneurs who answered the EY Entrepreneurs Speak Out – The Romanian Entrepreneurship Barometer 2015 survey expect Romania to provide a friendly environment for business development in a medium-term (5-10 years), while 21%It expects this to happen in a shorter time (3-5 years).

If 55% of entrepreneurs indicate a time span of up to 10 years, 19% of entrepreneurs are much more pessimistic. The latter consider that Romania needs at least 30 years to become a pro-business environment.

The study Entrepreneurs speak out - Romanian Entrepreneurship Barometer, now in its third edition, is an annual barometer conducted by EY Romania, which measures perceptions of Romanian entrepreneurs on five pillars essential for the development of entrepreneurship: access to funding, regulation and taxation, entrepreneurial culture, education and coordinated support provided by associations specialized in supporting entrepreneurship.

For this edition 369 entrepreneurs and businessmen from Romania answered the survey, between 9 January - 24 February 2015.

Fiscal issues - the most important obstacle for entrepreneurs

Almost 50% of respondents indicate fiscal issues, such as regulatory unpredictability, taxation complexity and level of taxes as the biggest obstacle in creating and developing a business in Romania.

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Also, the analysis of the words used by entrepreneurs to indicate the most important obstacles to business development, shows that deficiency marks their activity, be it lack of fiscal predictability, skilled human resources, local and central administrations’ support to entrepreneurs, lack of business incubators or financial resources.

Education and entrepreneurship - the only pillar with a major positive development

Like the previous edition of the study, of the five pillars that support the development of entrepreneurship, entrepreneurial education and training is the only factor for most entrepreneurs perceived as having a positive evolution: 62% of entrepreneurs believe that this factor has improved in Romania in the last year compared to 58% in the 2014 edition.

On the other hand, 42% of respondents indicated an improvement of entrepreneurial culture. 37% believe that the assistance provided by organizations specializing in the development of entrepreneurship has experienced a positive development and 30% that access to funding has improved. Only 20% of respondents believe that regulation and taxation have experienced a positive development in 2014.

Top 5 government measures that impact entrepreneurship

In the view of Romanian entrepreneurs, the top 5 government measures that would support Romanian business short-term development are: reducing the tax burden and providing fiscal incentives (45%), reducing bureaucracy and simplifying legislation, especially the Tax Code (15%), providing State guarantees for loans, especially for start-ups (8%), improve collaboration and communication between the public and private environment (7%) and stability of the fiscal environment (5%).

Access to finance - still a major problem

82% of respondents considered access to finance difficult or very difficult, down 6 percentage points from the previous edition of the survey. Top 3 funding instruments with impact for entrepreneurial companies are bank loans, EU funds and microfinance.

Regarding areas of government action, Romanian entrepreneurs consider the following as the most suitable measures to improve access to funding for business:

Fiscal incentives for investments in small companies (26%) Provide loan guarantees (20%) Reduced taxation of capital gains (18%)

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Business failure is shun

Fear of failure remains one of the significant barriers to approaching entrepreneurship. A percentage of 65% of entrepreneurs believe that business failure is shun by the Romanian society, being perceived as a barrier for future business projects (37%), a failure in career (17%) or indicate the lack of skills needed to be an entrepreneur (11%). Only for 29% of entrepreneurs business failure is a learning opportunity.

Entrepreneurship programs in universities

Specific programs for entrepreneurial education (56% of responses) are the most representative for Romanian entrepreneurs in improving the perception of entrepreneurship as a career choice among young people. In second place, with 22% in options and showing increase over last year, ranged government programs that support entrepreneurship.

At the same time, entrepreneurs provide mentoring to those at the start of their career: 68% offer mentoring to start-up entrepreneurs in an organized or informal framework.

Business incubators and accelerators will play the most important role in the development of entrepreneurship

Among the forms of coordinated support offered by associations and specialized institutions, entrepreneurs consider business incubators and accelerators as having the most important long-term role in the development of entrepreneurship, followed by government programs for start-ups. In Romania, these programs are coordinated by the Entrepreneurial Policies and Programs Implementation for SMEs Directive within the Ministry of Energy, SMEs and Business Environment.

"Entrepreneurship is one of the major forces that are changing the world as we know it, manifesting itself increasingly stronger in countries with entrepreneurial tradition, but also in emerging countries. Entrepreneurship is changing in itself too, more and more young people establishing their own company. Almost 50% of global entrepreneurs are between 25-44 years. Also, young people between 25-34 are the most entrepreneurial group. The challenge for Romanian entrepreneurs, also young ones, is to keep pace with these rapid developments taking place worldwide. The same challenge is equally met by public institutions. Regulatory issues (taxation complexity, bureaucracy, lack of fiscal predictability) are the most pressing issues for Romanian SMEs, in comparison to increase of customer base, which is the most important issue for SMEs in the European Union," said Bogdan Ion , Country Managing Partner, EY Romania.

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"We proposed that through the annual achievement of this study to contribute to a better understanding of the environment in which Romanian companies originate and develop: what is successful or taking on a good course and what does not work so well for entrepreneurs. Thus, we hope to help business people be more informed, while other stakeholders (public institutions, business incubators and accelerators, funders, educators, etc.) receive an overview of the Romanian business environment, which would assist them in determining future actions aimed at supporting entrepreneurs," said Alexandru Lupea, Partner and Strategic Growth Markets Assurance Leader, EY Romania.

About the study Entrepreneurs Speak Out: The Romanian Entrepreneurship Barometer 2015

EY Romania’s study assessing the perception of Romanian entrepreneurs on the local business environment is based on an online survey examining the perceptions of 369 Romanian entrepreneurs, analysis of quantitative economic and social indicators, findings from round tables held with entrepreneurs and analysis of more than 100 best practices and government initiatives on G20 countries and Romania. Of the respondents included in the survey, 49% own businesses under EUR 1 million, 31% businesses between EUR 1-5 million, 10% between EUR 5-15 million and 10% revenues exceeding EUR 15 million. Most respondents came from Bucharest (39%), Cluj (8%), Brasov (7%) and Timis (7%).

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This study was realized with the help of students and teachers from:

COLEGIUL ENERGETIC, RÂMNICU VÂLCEA, ROMANIA

And entrepreneurs from VALCEA COUNTY

This project has been funded with support from the European Commission. This

publication reflects the views only of the author and the European Commission

cannot be held responsible for any information presented here.