After we witnessed the fall of comunism, the development of the consumming market, the EU membership experience, the development of a services market as a result of the almost disappearance of the industry, the financial crisis in 2009 and the development of e-commerce in the last two years, 2020 is another year to remember. Covid-19 is the most written word in the press news and the contamination panic struck all politicians in the world, who locked down the economies and badly affected social life.
The Romanian market was severely hit due to the fragile economical situation after promoting consumption and no encouraging measures for local production. The crisis showed huge problems hidden so far by each political party that won elections – health and educational systems have almost collapsed – and the unefficient mass of state clerks with huge sallaries compared to the private sector showed the management of the country should change rapidly to counteract also the protectionism of the Western European countries that changed the law so they will be able to cash all taxes for the business initiated on their territories.
What’s next? The good thing is that we finally understood we need road infrastructure and Romania started to invest lots of the financial resources available in 2019 in roads. Unfortunately, it is a bit late and there are not much money left. But at least it seems to be a will to build. We also hope Port of Constantza will take benefit of the change wave and there will be more money for the harbour development, railway around it and a mentality change in how the business is managed in the port.
And, because transport run in Romania for European customers is no longer possible without settling a fiscal office in Western Europe and without paying the taxes on business and on labor in these countries, probably lots of transport companies will rediscover the internal market and will decrease the number of the driver-owners which appear and disappear by a thousand every year. For sure the quality of transport will increase and the prices also.
E-commerce will explode in 2021 after lots of small businesses did their lessons in 2020 and invested heavily in being online. Therefore we will see in 2021 lots of new e-commerce platforms, new couriers and lots of small and big companies developed around the big players of today.
And, because each of our catalogues include financial analysis, we predict that 2021 will bring big changes in the financial ranking we look at every year. With an automotive segment wich collapsed in 2020, lots of big players in automotive business will end the year with smaller figures than before, but with new business lines, which helped them to survive and offer a good basis for the further development.
There are new business raised around medical supply and vaccines distribution, some exploding and some confronting with difficulties because there are pioneering business and some do not have the necessary experience for such activities. There will be, definitely, an interesting time to live. Keep an eye on us! We took, gladly, the challenge to move our business online and being faster, but as proffessional as before with the information offered to you.
Let’s face the challenges together!