Business leaders in Romania are confident that their business will grow this year, as well as having faith in the overall positive trend of the economy, according to a new survey published by EY Romania.
The survey called “A New Vision of Growth” interviews 328 business leaders from various industries.
Approximately 40 percent of the leaders of companies interviewed as part of the survey are estimating significant double-digit growth of their business this year, between 10 percent and 31 percent. However, 27 percent of these companies estimate only a moderate growth in turnover, between 5 percent and 10 percent.
Also, 55 percent executives who answered in the survey are confident or very confident in the positive economic evolution of the country.
As far as the profit of their company is concerned, 35 percent of the interviewed business leaders estimate that it will grow by 10 percent this year and only 12 percent of them expect a decline in profitability in 2015.
The investments this year are also growing at a smaller pace, as the end of the year is closing in. Thus, only 27 percent of respondents forecast a 10 percent growth in investments, compared to 36 percent who believed that at the start of the year. Business leaders in production, constructions, real estate and transports are the most optimistic regarding this issue.
Like in the case of investments, estimations regarding team growth are also seeing a decline, compared to February 2015. However, 58 percent of respondents are still expecting growth in the number of employees, though smaller compared to the start of the year.
At the start of the year, 87 percent of the companies estimated that they would give a raise to their employees, and this percentage stays strong even now, as 80 percent of respondents believe there is still room for growth until the end of the year.
14 percent of respondents come from companies with a turnover higher than EUR 50 million, 10 percent from companies with a turnover between EUR 1 million and EUR 10 million while 38 percent from companies with less than EUR 1 million turnover.
72 percent of companies are Romania while the rest of 28 percent are subsidiaries of local companies. The survey was carried out between July 16 and August 17, 2015.