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Evolution of Romanian economy heavily depends on ability of business environment to find financing for development

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The evolution of the Romanian economy in the unpredictable and difficult context of the current crises heavily depends on the ability of the business environment to resist, to reinvent itself and to find financing for development, Cristina Chiriac, president of the National Association of Entrepreneurs (ANAA), said ahead of the start, in two days, of the first international venture capital forum in Romania - Romanian Venture Forum, informs a press release sent to AGERPRES.

"The evolution of the Romanian economy in the unpredictable and difficult context of the current crises heavily depends on the ability of the business environment to resist, to reinvent itself and to find financing for development. For startups, attracting venture capital that provides funds for innovation is a solution that must be introduced on the development agenda. The somewhat traditional sources of financing, loans from banks, government funds, European grants are difficult to access at the beginning of the journey, but attracting alternative investments is not a simple exercise either," considers Cristina Chiriac.

According to the cited source, the most acute problem remains the financing of this development. Romania' budget has a limited capacity to support small and medium-sized businesses. At the same time, accessing European funds is a difficult exercise for entrepreneurs and inflationary pressures have increased the cost of credit and narrowed access to loans for many businesses.

The National Association of Entrepreneurs welcomes the presence at this Forum of foreign venture capital funds, which can stimulate through investments both the emergence of new market leaders and the development of a culture of startups that understand their potential, look for alternative financing solutions and refine the management of the transformation of ideas into businesses, Cristina Chiriac emphasized.

The Romanian Venture Forum is initiated by the National Association of Entrepreneurs (ANAA), in partnership with CONAF - the National Confederation for Female Entrepreneurship, supported by the Bucharest National Opera, Catalyst Romania, ROPEA (Romanian Private Investment Association, ed.n.), WINGATE-project and Belgrade Venture Forum, sponsored by OMV Petrom and Banca Transilvania.

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