Romanian businessmen, investors, managers and employees with positions of responsibility in most economic fields look with caution at the prospects of the economy, in the context of the accentuation of the financial problems caused by the COVID pandemic.

About 67% of managers surveyed in a barometer commissioned by Sierra Quadrant focus on business restructuring.

The COVID 19 pandemic significantly affected the Romanian business environment, one fragile altogether, with over 90% of poorly capitalized companies, many of them in the survival zone, without medium and long term financial resources.

According to the results of a barometer conducted by the consulting company Frames commissioned by Sierra Quadrant, between September 10-20, most of the 1,850 respondents are concerned about the prospects of the businesses they represent.

Asked to what extent the pandemic affected their business, 72% said that the economic challenges posed by COVID affected them to a large extent, 21% to some extent, while only 7% said they are “immune” to the negative effects of the crisis.

Most respondents (59%) complained about the decrease of the business by over 50 percent. 13% faced a decrease in business between 20 – 50%, and 18% marked a decrease in revenues of up to 20%. Only 7% said that their turnover was not affected, while 12% avoided answering.

According to the Sierra Quadrant barometer, when asked what measures they have taken or want to take to protect their business in the context of the pandemic, 67% indicated “business restructuring” as the main measure, while only 16% said no will take further action. 17% avoided giving an answer.

The main restructuring measures targeted by managers are aimed at reconfiguring offers (43%), reducing supplier credit (29%), reducing operating expenses (23%), staff reductions (16%) and digitalizing companies’ activities (12%).