Romania registered the highest annual economic growth in the European Union in the fourth quarter of 2016, according to Eurostat. This performance couldn’t have been reached without the investments coming from international companies that discovered here a very good environment for their businesses.
Even though a recent study of Eurostat shows that Romania has the highest growth of labor hourly cost in the fourth quarter of 2016 in the European Union, according to a study made by the financial group ING, Romania and Bulgaria are the countries from the Central and Eastern Europe that offer very profitable workforce for investors. Beside the fact that they are affordable, the workers from these countries are also handy.
But the workforce in Romania is not only cost-effective. World Economic Forum issued a report where placed Romania on 10th position in a top of Europe’s entrepreneurial hotspots. The report Europe’s Hidden Entrepreneurs: Entrepreneurial Employee Activity and Competitiveness in Europe looked at two forms of entrepreneurship: one beyond the typical start-up – intrapreneurship – and another named total early stage entrepreneurial activity.
The report defines intrapreneurs as entrepreneurs that don’t choose to start their own business using their ideas, but prefer to implement them within the companies they work for. They are called EEAs, which stands for entrepreneurial employee activity. The others are called TEA and are represented by people aged between 18 and 64 either actively trying to start a new business, or managing a business that is less than three-and-a-half years old, in which they have an ownership stake.
In Europe, a greater proportion of entrepreneurship is expressed as EEA than anywhere else in the world: 40% of entrepreneurial individuals are EEA entrepreneurs, compared with 29% in the United States.
The top makes an overall ranking, combining these two types of entrepreneurs, and places Romania on the 10th position.
So the employees in Romania are not only cheap, but very loyal and committed, being able to offer their ideas for improvements and innovation to the employers.