Romania’s business registry recorded 12,427 new company registrations in May 2026 , a modest year-over-year decline of 3.51% compared to 12,879 in May 2025 . While registrations dipped, a deeper story emerges when we examine business exits — the lifecycle events that reveal how many companies are leaving the market.

Fewer Exits Than April, but Still Outpacing New Entries

A total of 14,478 businesses exited the registry through suspensions, dissolutions, or deregistrations in May . That resulted in a net loss of 2,051 businesses for the month and a health ratio — the number of registrations for every business exit — of 0.86 . In other words, for every 100 businesses that exited, only 86 new ones registered.

This is a marginal improvement from April 2026, which saw a health ratio of 0.81 and a net loss of 3,018 businesses . The trend direction is also encouraging: the health ratio trend indicator rose by 0.03 month-over-month, and the net growth trend improved by 390 businesses .

The churn rate — measuring exits as a percentage of registrations — stood at 116.5% , meaning exits still significantly outnumber entries. However, this is down sharply from 123.88% in April , indicating that the gap between entries and exits is narrowing.

Deregistrations Dominate Lifecycle Events

Breaking down the exits:

• Deregistrations (permanent removal from the register): 8,468 — the largest category, accounting for 58.5% of all exits
• Dissolutions (legal winding down of companies): 4,595 — roughly flat compared to 4,756 a year earlier, down 3.39% YoY
• Suspensions (temporary halting of operations): 1,415 — down 16.42% from 1,693 in May 2025, the sharpest decline among lifecycle events

The drop in suspensions is a notable positive signal: fewer businesses are hitting the pause button compared to last year. Meanwhile, deregistrations ticked up slightly by 0.95% YoY , suggesting that the cleanup of the register continues at a steady pace.

A Notable Shift in Entity Types

A significant structural shift is visible in the types of businesses being founded. SRL (limited liability company) registrations fell sharply to 6,964 in May 2026, down 14.48% from 8,143 a year earlier . In contrast:

• PFA (authorized sole proprietorships) rose to 4,816, up 14.72% YoY
• II (individual enterprises) grew 13.35% to 552

This shift from corporate entities (SRLs) toward simpler, individually-owned structures may reflect entrepreneurs opting for lower-cost, less administratively burdensome entry points into the market — a trend worth watching in the months ahead.

Sector-Level Winners and Losers

Industry-level data reveals a sharply divergent landscape. Among the sectors that experienced the strongest year-over-year registration growth:

Sector	May 2026	May 2025	Change
Agriculture, forestry & fishing	491	288	+70.49%
Financial intermediation & insurance	266	165	+61.21%
Manufacturing	702	463	+51.62%
Entertainment & recreation	425	330	+28.79%
IT & communications	1,038	869	+19.45%

Agriculture’s leap is particularly striking and may reflect the seasonal nature of the sector as spring planting activities drive new formalization. Manufacturing’s 51.62% jump is a notable bright spot for the industrial base.

On the other end of the spectrum, several sectors saw sharp declines:

Sector	May 2026	May 2025	Change
Transport & storage	1,755	2,616	-32.91%
Real estate transactions	326	447	-27.07%
Health & social assistance	201	249	-19.28%
Wholesale & retail trade	1,789	2,186	-18.16%
Hotels & restaurants	599	647	-7.42%

The transport sector’s dramatic decline stands out. After several years of strong registration growth fueled by e-commerce and logistics demand, the sector appears to be consolidating. Trade and hospitality also show contraction — a pattern consistent with a maturing business cycle after pandemic-era booms.

Regional Churn: București Stable, Bihor Under Pressure

At the county level, the churn picture varies considerably. București recorded the most registrations (2,912) but also the most exits (2,765), yielding a relatively moderate churn rate of 94.95% — meaning exits nearly match entries but don’t overwhelm them .

Ilfov had the lowest churn rate among major counties at 71.5%, with 828 registrations against 592 exits . This reflects the continued pull of the Bucharest-Ilfov metropolitan area as a dynamic business hub.

At the other extreme, Bihor posted the highest churn rate at 154.8% — with 396 registrations overwhelmed by 613 exits . Cluj (139.53%) and Dolj (130.45%) also saw churn rates well above the national average, suggesting localized business environment pressures.

12-Month Trend: A Cooling Picture

The 12-month moving average of monthly registrations stood at 13,288 for May 2026, down from 13,326 in April and moderating from the higher levels seen earlier in the year . The actual May figure of 12,427 sits below this moving average, reinforcing the sense of a cooling registration environment.

Comparing to a Year Ago: Marginal Deterioration

In May 2025, Romania recorded a health ratio of 0.87 and net growth of -1,958 . May 2026’s health ratio of 0.86 and net growth of -2,051 are slightly worse, though the gap is marginal. The churn rate a year ago was 115.2% — nearly identical to this May’s 116.5%.

The key difference lies in the composition: suspensions are down sharply (-16.42% YoY), while deregistrations are slightly up (+0.95%). This pattern could indicate that businesses that might have temporarily suspended operations in the past are now being permanently removed from the register instead — a more definitive cleaning of the business registry.

Assessment: A Strained but Stabilizing Ecosystem

The Romanian business ecosystem continues to operate under churn conditions — more businesses exit each month than enter — but the trajectory shows signs of stabilization. The narrowing of the churn rate from 123.88% in April to 116.5% in May, combined with the improving health ratio trend and declining suspensions, suggests conditions are not deteriorating further.

The structural shift away from SRL formations toward PFA and individual enterprise registrations is a notable development that merits continued observation. It may reflect changing entrepreneurial preferences, regulatory influences, or economic caution — sole proprietorships carry lower fixed costs and less regulatory burden, making them a rational choice in an uncertain environment.

With the 12-month moving average still declining gently and several major sectors (transport, trade, real estate) seeing reduced registration volumes, the overall signal is one of moderate caution — not crisis, but not robust expansion either. The business ecosystem is contracting modestly, consolidating in certain sectors, and showing resilience in others.