CONTEXT

In a local economy where, in certain areas, foreign concerns make the law, Romanian business manages not only to fight in many cases on an equal footing with the big global players, but also to surpass them in some niches. And Romanians look for, at least declaratively, out of nostalgia, patriotism or greater confidence in taste/quality, “Made in Romania” products, even if on the market they are still “hidden, sometimes,” “under the shelf” of foreign brands. Consumers who choose domestic products often discover that they are – if not better – at least as good as other foreign brands, ultimately the impact on the local industry as a whole is extremely positive. However, the pandemic also affected Romanian brands, suddenly put in a position not only to fight with the financial strength of foreign players, but also with the financial strength of the smaller market. Some brands saw themselves in the situation of being sold to foreign investors, the owners trying to rebuild a new business or withdrawing from the business. Other businesses end up being run by entrepreneurs who have reached retirement age and are looking for solutions to make the transfer within the family, to the children, if they are interested in continuing the family business. However, Romanian entrepreneurs sometimes manage to impose their brands not only on the local market, but also to expand to foreign markets. More and more recent examples of success, of brands that stood out through innovation, show that, for certain tech fields, the chances of internationalization are high.

DISSCUSIONS TOPICS:

• How can a Romanian brand be maintained and developed on the market?
• What is specifically needed from the state to support local business?
• What are the financing difficulties for local entrepreneurs and what solutions are available in the market?
• How do local brands deal with technological challenges and the need for rapid digitization?
• The difficulty of attracting and retaining talent in a labor market with many challenges.
• Financial challenges for local entrepreneurs in an economic context marked by inflation, bottlenecks in supply chains, increased costs of energy and raw materials.
• Do Romanian brands also need a strong country brand?
• How can you get out of the local market to establish yourself in other countries?
• How can you convince the buyer that tradition is sometimes at least as important as marketing?
• How can a brand make a difference and how can you build it?

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