Almost 50% of the entrepreneurs financed themselves when they started their businesses, using the money saved when they were hired, according to the results of the iVox survey presented in Iasi, during the regional conference "The Businesses, from A to Financing". The survey was conducted between 28 April and 15 May 2014. Only 12,4% of the companies that participated in the survey turned to financing from the bank and 9% of the respondents benefitted of the help of a business angel, partner or investment fund, while almost a third of the people that have started a business turned to their parents, relatives or friends for money. 419 respondents participated in the online survey, persons that manage or have companies with a turnover up to 500.000 euro/year.

Almost three quarters of the Romanian entrepreneurs that answered say that the taxes represent the main obstacle in their business faced up to the present. At the same time, half of them mentioned that the bureaucracy when starting a business and the difficult economic environment that offer few development opportunities, represent obstacles in the business development.

"Most Romanians point at the fiscal policy in Romania as a big obstacle in the development of their businesses. These would want from the authorities a friendly fiscal environment and a decrease in the bureaucracy. The financing of the businesses represents an important issue on the entrepreneurs agenda and Banca Românească comes to their help with products dedicated to everybody's needs, such as investment loans, credit lines or letters of bank guarantee", stated Bogdan Caraghiaur, Manager of SBB Department.

When asked what type of financing they would need from the bank, over 40% of the respondents stated that they would need an investment loan, a third mentioned a credit line and over a quarter said that they would want a loan for the co-financing of European projects.

The entrepreneurs say that, related to a bank financing, they would be mostly tempted by an advantageous interest rate (70,7%), the lack of commissions (66,2%) or additional facilities, such as a better interest rate for deposits, more sophisticated products, legal assistance (34,3%).

Over a third of the participants in the survey already have 5 years of experience in business, 2 of 10 respondents have 3 to 5 years of experience, while almost 3 respondents of 10 are at the beginning of entrepreneurship, with a 1 to 3 years of experience.

Most Romanian entrepreneurs, namely over 71%, have started a business because they wanted to improve a service of good they had used at a moment in life. Over 20% have started a business by taking over an idea from parents, relatives or friends.

Banca Românească offers products and services dedicated to small businesses and SMEs. In 2014, for the SMEs financing, the bank allocated a 50 million EUR budget.

The bank comes to meet the SME s financing needs through customised lending products and structures dedicated to this category of clients. "We are always trying to find the best financing solution for each applicant, benefiting of the flexibility and dynamism in the relation with our clients", explains Cosmin Călin, Executive Director Corporate Unit, Banca Românească.

At the beginning of the year, Banca Românească was among the first credit institutions that signed and obtained for their clients guarantees in the Program to guarantee the loans for small and medium enterprises (OUG 92/2013). As well, the bank signed a partnership agreement with the Agency of Payments and Interventions for Agriculture (APIA), through which the beneficiaries of subsidies can obtain loans for the working capital financing.

An increased importance is given to the process of the European funds absorption, Banca Românească offering a package of products meant to finance the projects that benefit of such funds, covering all stages since the issuance of the comfort letter and of the bank guarantee letter for the advance repayment to pre-financing, co-financing and assurance of the working capital necessary to operate the investments or VAT financing.