Three choices for Romanian firms ready to internationalize in 2024

Romanian firms are beginning to create export growth strategies, and some businesses are planning production facilities or cross-border acquisitions. There is no single benchmark of win, but the design of regional enterprises also depends on state support and private or public educational programs. A mix of new programs for internationalization, revived schemes, and educational ventures answer Romanian entrepreneurs who want to go international today.

New programs for exporters

Specifically, Romania’s main objective in the export strategy must be to balance the trade balance. Any government has the leverage needed to enhance and increase exports of domestic capital. Still, currently, the programs open to supporting the export of companies with domestic capital in Romania are limited.

One new scheme is the Innovation program that aims to support the realization of inventions, to support the export activities of SMEs operating in trade and services, with a turnover of fewer than 1 million euros, which operates in the export industry, non -polluting. Within the new scheme, it will be possible to finance activities that stimulate Romanian exports or support international transactions and local investments abroad. For one year, an absolute ceiling of the guarantees that can be granted within the Program of 1 billion lei is proposed. The budget of the state targets more than 1,835 companies. It is one of the newest four new guarantee programs in priority areas for the Romanian economy. The programs are state aid schemes under which guarantees and grants granted will cover part of the costs of financing the loans contracted by the beneficiaries.

Restored schemes

Finally, export promotion and internationalization programs have been unblocked. After a year in which the programs were blocked, members from the Working Group of the Export Council can join the Export Promotion Program – EPP and the Internationalization Program.

Romanian companies will be able to access de minimis aid totaling 15 million lei (approx. 3 million euros) from the state budget, go to international fairs and exhibitions, or participate in online events for a fee through the program to support the internationalization of Romanian economic operators.

Educational ventures for future exporters

International expansion is validation for an entrepreneurial company that wants to take the step to a multinational. Many companies that have expanded globally have participated in programs dedicated to internationalization in other countries. In Romania, the number is limited.

Accelerators of this type are programs dedicated to companies already doing business abroad or wanting to expand their product through internationalization activities. For example, there are local accelerators that offer support, mentoring, expertise, and networking access for Romanian companies to internationalize on a specific target market. These accelerators aim at both non-tech and technology companies that aim to grow into a new country through an educational curriculum.

Romanian companies need practical training for internationalization: for example, entrepreneurs want to understand how we choose the target market we export. Equally, companies participate in mentoring about understanding international needs and the economic legislative specificities of the countries of interest.

Access to the Enterprise Europe Network (EEN)

Dedicated consulting by carrying out a market analysis for internationalization, access to the Enterprise Europe Network (EEN), access to international funding, and participation in networking and information events are four opportunities available this fall to you as an entrepreneur through the PROSME program, held and implemented by MSP.

From my experience over the past year, access to the Enterprise Europe Network (EEN) can provide significant support in your internationalization process. Here’s how EEN can help specifically on the internationalization side. First, by identifying market opportunities: through myself and my fellow PROSME consultants, EEN can provide you with detailed information about foreign markets relevant to your products or services. That way, you can decide which countries to expand into.

Secondly, EEN can help you in your search for business partners. Specifically, you will find potential local or international partners, such as distributors, agents, producers, or co-production partners, who can help you expand into new markets.

Third, you have easier access to business networks: EEN can connect you to international events, fairs, and conferences where you can meet potential business partners, clients, or foreign investors.

Claudiu Vrînceanu – EEN adviser

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