Support Program for Young Entrepreneurs

Types of Legal Entities Available in Romania In Romania, entrepreneurs can choose from a wide range of legal forms to set up a business, depending on the specifics of their activity and objectives: • SRL (Limited Liability Company): This is the most popular legal form, due to the flexibility and protection offered to partners. It is ideal for a wide range of activities, from services and production to trade. • PFA (Authorized Natural Person): Suitable for self-employed activities and small businesses. To set up a PFA, the entrepreneur must have qualifications or experience in the chosen field. PFAs are limited to a maximum of 5 CAEN codes. • SA (Joint Stock Company): The right choice for large-scale businesses, especially those that involve attracting investors through the issuance of shares. • II (Individual Enterprise) and IF (Family Enterprise): These are legal forms suitable for small businesses with small-scale operations, being frequently used in agriculture or crafts. What Changed in 2024? Starting with January 2023, the SRL-D (Limited Liability Company – Beginner) is no longer available. Beginner entrepreneurs are encouraged to opt directly for SRLs, as the tax facilities associated with SRL-D have been eliminated. SRLs remain the most accessible legal form for starting a business. Online Company Formation: Notable Simplifications ONRC has modernized the company formation process. In 2024, entrepreneurs can complete the entire procedure online: • Checking the company name and reserving it. • Completing the articles of association and electronically signing the documents. • Submitting the electronic file, including proof of share capital and registered office. ONRC's digital platform now allows faster processing of files, reducing registration time to 3-5 business days. Costs Associated with Establishing a Company in 2024 The costs of establishing a company in Romania remain affordable, but may vary depending on the services chosen: 1. Minimum share capital: 1 Ron for an SRL. 2. Publication in the Official Gazette: Approximately 150-200 Ron. 3. Notary fees and other documents: Between 100 and 300 Ron. 4. Calling on specialized firms: Service packages start at 500 lei for basic establishment and can exceed 1,200 lei for complete solutions. For PFAs, the costs are lower, starting at 300 Ron. Steps to Establish a Company 1. Name Reservation: Check the availability of the desired name on the ONRC website and complete the reservation request. The process is free online. 2. Establishing CAEN Codes: Choose the codes that reflect the company's activities. LLCs can have an unlimited number of codes, unlike PFAs. 3. Registered Office: Make sure you have the necessary documents (commodity or rental contract). In 2024, coworkings can be used as temporary offices. 4. Articles of Association: Completed digitally, this document includes information about associates, administrators, registered office and the object of activity. 5. Deposit of Share Capital: Open a dedicated bank account and deposit the necessary share capital. Obtain proof of deposit. 6. Submit Documentation: Upload the documents to the ONRC portal, signed electronically. In the case of an LLC, the required documents include: • Registration application; • Articles of association; • Proof of deposit of share capital; • Signature specimen. How to Launch Your Business Successfully in 2024 Once the company is registered, follow the necessary steps to ensure a solid start: 1. Strategic Planning: Develop a detailed business plan that includes financial projections, marketing strategy and market analysis. 2. Digitalization: Investments in technology are essential. Create a professional website and use digital platforms to manage daily activities. 3. Legal Compliance: Make sure you comply with all tax and legal obligations. Adopt GDPR protection measures and risk insurance. 4. Marketing and Branding: Develop online promotion strategies, including social media and Google Ads campaigns. 5. Team Building: Attract talent by offering attractive benefits packages and a supportive work environment. Conclusion Starting a company in Romania in 2024 is more accessible and faster thanks to the digitalization of processes. Choosing the right legal form, proper planning and adapting to market requirements are essential steps to turn an idea into a successful business. For detailed information, visit ONRC.ro .

Are you an aspiring entrepreneur looking to turn your innovative ideas into successful ventures? Look no further than the Carpathian Valley Innovation Hub, a non-governmental organization (NGO) dedicated to supporting and nurturing the next generation of business leaders. One of the key offerings of the Carpathian Valley Innovation Hub is its Mentorship Program, which pairs entrepreneurs with seasoned mentors who provide guidance, advice, and valuable insights based on their own experiences. This personalized support can be invaluable for those navigating the complexities of starting and growing a business. In addition to mentorship, the organization also offers a series of Entrepreneurship Courses covering a wide range of topics essential for success in the business world. Whether you're looking to develop your marketing strategy, hone your financial skills, or fine-tune your pitch presentation, these courses provide the knowledge and tools you need to thrive. Networking Events hosted by the Carpathian Valley Innovation Hub offer opportunities for entrepreneurs to connect with like-minded individuals, potential collaborators, and industry experts. Building a strong network is crucial for expanding your reach, gaining new perspectives, and opening doors to exciting partnerships. For those in need of workspace, resources, and funding, the Incubation Support provided by the organization can be a game-changer. By offering access to essential resources and opportunities, the Carpathian Valley Innovation Hub helps entrepreneurs take their ideas to the next level and navigate the path to success. At the heart of the organization lies the Innovation Hub, a dynamic space equipped with cutting-edge tools, equipment, and expertise for prototyping and testing ideas. This state-of-the-art facility provides entrepreneurs with the resources they need to bring their concepts to life and turn them into market-ready products or services. Stay tuned to the Carpathian Valley Innovation Hub website for updates on upcoming events, success stories from fellow entrepreneurs, and valuable resources to support your journey towards entrepreneurial success. With the organization's comprehensive range of services and unwavering commitment to fostering innovation and creativity, the possibilities for growth and achievement are endless.

Are you an aspiring entrepreneur looking to kickstart your business idea? Look no further than the services offered by Carpathian Valley Innovation Hub. This non-governmental organization is dedicated to empowering entrepreneurs through a range of support services designed to nurture innovation and growth. One of the key offerings by Carpathian Valley Innovation Hub is their Mentorship Program. As an entrepreneur, having access to experienced mentors can provide invaluable guidance and insights to help steer your business in the right direction. Through this program, you can benefit from one-on-one support and advice from seasoned professionals in your industry. In addition to their Mentorship Program, Carpathian Valley Innovation Hub also offers Entrepreneurship Courses covering a wide variety of topics essential for business success. Whether you are looking to learn about marketing strategies, financial management, or business planning, these courses can equip you with the knowledge and skills needed to thrive in the competitive business world. Networking Events are another key aspect of the services provided by Carpathian Valley Innovation Hub. Building a strong network of connections is crucial for any entrepreneur, and these events offer the perfect opportunity to meet like-minded individuals, potential collaborators, and investors. By fostering a supportive community of entrepreneurs, these networking events can help you expand your reach and grow your business significantly. Furthermore, Carpathian Valley Innovation Hub offers Incubation Support to help entrepreneurs bring their ideas to life. This support includes access to workspace, resources, and funding opportunities to help turn your business concept into a reality. By providing a supportive environment for budding entrepreneurs, the organization enables individuals to focus on innovation and creativity without having to worry about logistical challenges. Additionally, the Innovation Hub at Carpathian Valley provides cutting-edge tools, equipment, and expertise for prototyping and testing ideas. Having access to state-of-the-art facilities can be instrumental in the product development process, allowing entrepreneurs to refine their ideas and bring them to market more efficiently. If you are looking to stay informed about upcoming events and success stories within the entrepreneurial community, Carpathian Valley Innovation Hub's website is the go-to platform. By regularly featuring upcoming events and highlighting success stories, the organization aims to inspire and motivate aspiring entrepreneurs on their journey to success. In conclusion, Carpathian Valley Innovation Hub is a beacon of support and empowerment for entrepreneurs looking to turn their business dreams into reality. With a comprehensive range of services tailored to meet the needs of budding entrepreneurs, the organization provides the necessary tools, guidance, and resources to help individuals succeed in the competitive business landscape. Whether you are in need of mentorship, training, networking opportunities, or incubation support, Carpathian Valley Innovation Hub has got you covered.

Are you an aspiring entrepreneur looking for support and guidance to turn your innovative ideas into successful ventures? Look no further than Carpathian Valley Innovation Hub. This non-governmental organization (NGO) offers a comprehensive range of services designed to nurture and support entrepreneurs in their journey towards success. One of the key offerings is the Mentorship Program, which pairs budding entrepreneurs with experienced mentors who provide valuable insights and guidance based on their own experiences. This mentorship can be invaluable in helping entrepreneurs navigate the challenges of starting and growing a business. In addition to mentorship, Carpathian Valley Innovation Hub also offers Entrepreneurship Courses that cover a wide range of topics essential for aspiring entrepreneurs. From business planning and marketing strategies to financial management and pitching to investors, these courses provide entrepreneurs with the knowledge and skills they need to succeed in the competitive business world. Networking Events are another key feature of the services offered by Carpathian Valley Innovation Hub. These events provide entrepreneurs with the opportunity to connect with like-minded individuals, potential collaborators, and investors. Building a strong network is crucial for the success of any business, and these events provide a platform for entrepreneurs to forge valuable connections that can help propel their ventures forward. For entrepreneurs who are in need of physical resources and support, Carpathian Valley Innovation Hub also offers Incubation Support. This includes access to workspace, resources, and even funding opportunities to help entrepreneurs bring their ideas to life. The organization understands the challenges that entrepreneurs face and is committed to providing them with the support they need to succeed. Furthermore, Carpathian Valley Innovation Hub boasts an Innovation Hub equipped with the latest tools, equipment, and expertise for prototyping and testing ideas. This state-of-the-art facility allows entrepreneurs to bring their concepts to life and refine them through experimentation and testing. If you're looking for a supportive and nurturing environment to bring your innovative ideas to fruition, look no further than Carpathian Valley Innovation Hub. Stay tuned to their website for information on upcoming events and success stories from entrepreneurs who have benefited from their services. With the right support and guidance, your entrepreneurial dreams can become a reality.