Top 3+3 business destinations

24.11.2018   |  Business Travel

The famous business publication Forbes provides, on its website, an updated list of friendly countries towards entrepreneurs and other businessmen. I have visited a few of these countries, reason for which I’m taking the liberty to nuance the comments of Forbes, as follows: 

Top 3 Developed Economies

  • United Kingdom. It is a well-known global financial center and Forbes rates it as being the third European economy after Germany and France. With or without Brexit, British economy is strong because agriculture and extractive industries are strong and Brexit will change fewer things than one might think.
    My advice: Find time also for museums if you go to London. I have never seen things more organized and easy to grasp than there. For students, entrance is free. You can make donations at the British Museum or the National Gallery. As much as you can.
  • New Zeeland. It is far, but has had economic growth for decades on end. A few dozens of years, it was a mainly agricultural economy depending on the British Empire, but the New-Zealanders have managed to solve the problem in the meanwhile. As the engines of the economy run smoothly, you would need serious resources to start a business. On the other hand, as far as red tape is concerned, everything would go just fine.
    My advice: Take some time for the local culture and nature. If you don’t understand the role and influence of the Maori tribes on the New Zeeland’s economy, you have lost a lot both personally and financially.
  • The Netherlands. Everybody knows that it is a country where you can indulge yourself, but by far fewer people know that it is the sixth strongest economy in the European Union with a great deal of exports. Officially, the Netherlands undergoes an austerity period, regulated by public policies. As compared to Romania, this configuration is by far more promising.
    My advice: If you get to Amsterdam, visit Rjksmuseum. You don’t have to be art lovers. Just try and see how bourgeoisie, that is business, is born. 

Top 3 Less Known Countries

  • Estonia. You may know that the country had joined the European Union three years before Romania, in 2004. It is even more likely that you have heard that it is a highly computerized country. In terms of business, this means that many Romanians move their businesses there and pay taxes also there, by the so-called e-residency. The process can be easily initiated here.
    My advice: In general, use all the online facilities regarding the bureaucracy and the related aspects. You will save serious money, which you would otherwise spend on lawyer, accountant, paper and printer. I have never been to Estonia, but if you want to make a comparison, just pay an invoice via the Romanian Post. There the conversations are still conducted in ROL (Romanian Old Lei).
  • United Arab Emirates. I have already written in detail about the economy in Dubai and the rest of the Emirates. The business facilities are numerous, but the legislative framework is somehow volatile. In any case, the Emirates are a territory in which money circulates. All you need is know exactly what you want.
    My advice: Apart from malls and the like, we don’t deal with an exceptional tourist destination. Look for medium comfort, because the average is very high in the Emirates. Avoid extravagant spending, because these are more than welcome in the Gulf.
  • Romania. As a native of this place, I only note the presence of my country in the Forbes top, ranking 43rd at the date of this analysis. The good news is that we are ahead of Bulgaria, Thailand or Turkey. The economic picture presented by Forbes is far from pretty. Still, if we have a look as if at a mirror, we have reasons to believe it is not that bad.
    My advice: My advice wouldn’t be useful in the given context. Still, I like doing business and pay taxes in Romania. If I were a foreign investor, I would be cautious enough to rely on a good local team in respect of the support departments, from Legal to Human Resources. We all know the rest.
Octavian Pătrașcu  |   24.11.2018   |  Business Travel

How I take the decision to invest in a startup

25.02.2019   |  Startup
An investor receives far more funding requests than the ones he can actually get involved in. Even the proposals that include a good pitch and business plan have to go through a screening procedure in which the potential investor obtains his necessary clarifications. We do have such procedures in our companies and they’re not secret – but, instead, they are highly relevant about any investor’s expectations and steps that entrepreneurs have to follow through. This is the reason I’ve chosen to present our procedure in brief. (more…)
Read full article

Alternative Investments (I): Art, Gold, Wine

04.02.2019   |  Capital Market
If the investments in shares, bonds or bank deposits seem boring to you, then you should have a look at the so called alternative investment market, which can be very roughly described as being everything that does not fall under the categories above. Maybe, in this case, you will be surprised to see that success is even more problematic here than on the classic markets. (more…)
Read full article

Latest Articles
In Tech

24.11.2018   |   Tech

10 technological trends in 2019

The top 10 technological trends of 2019 include, according to consulting company Gartner, exotic notions, such as “digital germs” or the software programmed by the artificial intelligence. The top also includes relatively better known technologies, such as Blockchain or quantum computing.  (more…)
Read full article
24.11.2018   |   Tech

The most interesting tech startups

LinkedIn updated at the beginning of this fall the top of the most interesting startups in 2018. As expected, the top is dominated by tech companies. I’ll analyze in brief of few of them. (more…)
Read full article

Latest Articles
In Capital Market

04.02.2019   |   Capital Ma...

Alternative Investments (I): Art, Gold, Wine

If the investments in shares, bonds or bank deposits seem boring to you, then you should have a look at the so called alternative investment market, which can be very roughly described as being everything that does not fall under the categories above. Maybe, in this case, you will be surprised to see that success is even more problematic here than on the classic markets. (more…)
Read full article
15.12.2018   |   Capital Ma...

Capital market in 2019

JP Morgan published, at the end of October, a forecast regarding the capital market in 2019. If the general macroeconomic picture is positive, there are, however, certain developments that investors should consider. Here are some important tendencies and my opinion on them.  (more…)
Read full article

Latest Articles
In Business Travel

21.01.2019   |   Business T...

Romania seen through foreign investor eyes

I am a Romanian businessman, but I consider myself lucky for being born in a time when business became borderless. In other words, I’ve been interacting with non-Romanian partners for almost 10 years. So, since this text is in English, you are surely interested in a short list of my foreign partners’ perceptions of Romania. Warning: most positive things have a downside.  (more…)
Read full article
26.11.2018   |   Business T...

Japanese Business Dictionary

Last summer, Japan and the European Union signed a historic free trade agreement, regarding food products, cars and long lasting development products, among other things. There is a new ambassador in Bucharest and we do no longer need a visa for the short term trips to Tokyo or Osaka. Most certainly, Japan is a country full of opportunities and I have started by sorting out the famous problem of Japanese business etiquette. Here are a few recommendations I've verified from several sources:  (more…)
Read full article