Impetum Group invites entrepreneurs and top management of Romanian companies to contribute to the Confidex Q4 Study, the largest pro-business study in Romania, which aims to bring the business environment a holistic perspective on the evolution of the Romanian economy through the crisis. This perspective helps the business environment in making informed and therefore assumed business decisions, observing trends, calculating probabilities, but especially diminishing, as much as possible, the effects of the crisis.
Confidex, through its sample of entrepreneurs and top managers at national level, also measures the confidence that Romanian managers have in the current economy and creates explicit benchmarks for businesses.
The survey for Confidex Q4 is currently underway and examines the evolution of both companies and the economy as a whole, in the last quarter of 2020, compared to estimates from the beginning of the pandemic. It also tackles the forecasts of Romanian managers for the next three months of 2021. The results of the study will highlight the strategic directions of main economic sectors and companies with an impact on local and national markets in the upcoming months. Completing the CONFIDEX survey takes an average of 6 minutes and answers are confidential. The results will be published in February 2021.
The CONFIDEX study was launched in May 2020 in order to record step by step the effects that the coronavirus crisis has on the economy, and focuses on the elements that restore the business environment’s confidence in the economy. The conclusions of the Confidex Q3 study are available here and the conclusions of the CONFIDEX Q2 are here.
In the previous two editions:
- The feedback of over 900 entrepreneurs, CEOs or C-level managers from large companies was analyzed (75% have over 1 million euro turnover and 31% have over 5 million euro turnover);
- Companies come from the main contributing areas to GDP: agriculture, industry and energy, construction, trade, HoReCa, transport (incl. distribution, storage) and services;
- The study was supported by the Bucharest Stock Exchange, the Chamber of Commerce and Industry of Romania, Banca Transilvania, RBL, CEO Club and others;
- 4 debates were organized with entrepreneurs & CEOs with over 200,000 views, and a live debate with over 600 online participants;
- 2.5 million people have read and heard about CONFIDEX on various channels: social media, newspapers, radio, etc.
Some relevant conclusions from CONFIDEX Q3:
- The recovery after the crisis is longer (the economy will recover after 2 years) and turns into a dull U,
- Increasing concern for companies: 78% of managers say they are worried and very worried,
- The measures taken by managers are tougher in Q3 2020. The number of those who reduced marketing expenses (58%), postponed investments in IT (48%) and resorted to salary cuts (18%) and even layoffs (21%),
- 75% of managers believe that the unemployment rate will increase and can reach 8% – 9%, according to their forecasts,
- The crisis has the potential to be the catalyst for the change of strategy, but it changes the strategic approach of managers too little,
- Last but not least, the CONFIDEX index remains constant at 41, which shows a moderate level of confidence of managers, between the relaxation period during the summer and the present concern for the future.