Foreigners are not afraid to open business in Bucharest. Investors from outside the borders present the Capital of Romania as a friendly city with the economic environment, a city in which it is worth to start a business. Moreover, they argue that there are a number of factors that encourage the development of businesses in our country.
Tomas Manjon is from Spain, specifically from Madrid, and together with two partners from the same country, he opened a business in Bucharest five years ago.
Meanwhile, the group built by the three Spaniards has grown and has come to include a company specialized in Property and Facility Management services, one focused on construction and a real estate developer.
The foreign investor did not accidentally choose the Romanian capital. Tomas told us that, before starting the business, he worked for several years in Bucharest and realized that he has several advantages in this city, advantages that can help him develop his business idea. „I knew the market, there are still many things to do, the market is less saturated than in Spain. There are fewer competitors compared to Spain, the competitors are smaller. In addition, there is an attractive tax regime and, in general, we thought it was easier to develop businesses from scratch. We are three Spanish entrepreneurs, two of us from Madrid (me and Diego Stuyck) and one from Elche, near Alicante (David Tortosa). We studied in our cities, where we started our professional life. Between 2007-2010, I came to Bucharest where I worked for Spanish companies and here I stayed”, mentions the Spanish businessman.
Foreigners are very well received
Tomas says that, at first glance, it’s relatively easy to start a company and start a business in Bucharest. In addition, foreigners are generally very well received.
However, there are many business stories written by Spanish investors that did not have a happy ending. „It is a market that has particularities that must be known. Things are going much slower than in other countries and all kinds of unforeseen problems are coming up. But with patience and hard work, problems can be overcome”, notes the investor.
In fact, the capital of Romania also has a strong asset. This is taxation, which is very attractive to Western European countries. „Many investors are attracted to this aspect,” points out Tomas Manjon.
A city in constant transformation
The businessman is delighted by the city in which he founded his business, because it is very dynamic and changes a lot every year. „I like it because there is still room for transformation. If we look at Bucharest in 2007, for example, we notice that it was very different. There have been more good things happening here than in other cities in the West, consolidated for decades. We, business people, do not like traffic and public transport. The subway is ok, but there are very few lines and stations. To be functional, you should be able to get anywhere in the city by subway, as in Madrid, for example. Here we cannot leave the car to travel only by the subway, it must be combined with the tram and/or trolley bus. But as I mentioned, the city has changed a lot in recent years. The city is much better illuminated, many of the extremely visible cables disappeared, the number of stray dogs on the streets decreased, important office centers appeared, several abandoned villas were rehabilitated, many of the facades of the buildings built were repaired during the communist period, and lawn appeared in public areas”, stresses Tomas.
Even if he does not have free time, because he works very hard to develop the business he founded, the Spanish investor has several favorite places in Bucharest, where he can go when he can. Among them he likes Herastrau Lake, but also the restaurants in the area. He also advises tourists not to miss a walk through Cișmigiu Park.
Tomas Manjon tells the story of another foreigner who left his native places to settle in Bucharest. The city attracted him from the time when he was offered the opportunity to work within some Spanish companies active in Romania. The fact that he founded a business together with his partners in the Romanian capital proves that Bucharest is a city where foreigners are well received and have the opportunity to implement their business ideas. „To attract more investors, Bucharest needs stronger promotion. It has many good conditions for investors but the vast majority of people in Western countries do not know,” concludes the businessman.