Bucharest — Romania recorded 12,427 new company registrations in May 2026 , a modest decline of 1.68% from April’s 12,639 registrations , and down 3.51% compared to May 2025 . While the headline figures suggest a cooling trend, a deeper look reveals a structural transformation in how Romanians are choosing to formalize their businesses.

SRLs Slip, PFAs Surge

The most notable development in May was the divergence between corporate entities and individual enterprises. Limited liability companies (SRLs) — traditionally the backbone of Romanian business formation — fell sharply to 6,964 registrations, down 14.48% year-over-year from 8,143 in May 2025 . This was the primary driver of the overall decline.

In contrast, Authorized Individual enterprises (PFAs) rose to 4,816 registrations, a 14.72% increase from 4,198 a year ago . Family businesses (II) also saw gains, climbing 13.35% to 552 registrations, while Individual businesses (IF) jumped 74.07% to 47 .

This pattern points to a shift toward lighter, lower-cost business structures. PFAs and family enterprises typically involve less regulatory overhead and lower initial capital requirements than SRLs, making them attractive for freelancers, consultants, and small-scale service providers.

Industry Trends: Transportation Slows, Manufacturing and Agriculture Surge

The industry data reveals a significant realignment of entrepreneurial activity.

Trade and transport — historically the two largest registration sectors — both saw substantial year-over-year declines. Wholesale and retail trade fell 18.16% to 1,789 registrations , while transport and storage dropped a striking 32.91% to 1,755, down from 2,616 in May 2025 . The transport sector’s decline is the most dramatic of any major industry and likely reflects market saturation after years of rapid growth, as well as rising operational costs.

Several industries posted strong gains:

• Agriculture, forestry and fishing surged 70.49% to 491 registrations
• Manufacturing jumped 51.62% to 702 registrations
• Financial intermediation and insurance rose 61.21% to 266
• Information and communications climbed 19.45% to 1,038
• Professional, scientific and technical activities grew 9.71% to 1,333

The strong manufacturing and agriculture numbers are particularly noteworthy, suggesting renewed interest in productive sectors after years dominated by services and commerce.

Bucharest Dominates, Smaller Counties Show Dynamism

Bucharest remains the undisputed hub of new business activity with 2,912 registrations — 23.4% of the national total . Ilfov followed at 828, Cluj at 602, and Timiș at 593 .

However, the fastest year-over-year growth came from smaller counties. Călărași led with a 57.35% surge to 107 registrations, followed by Giurgiu at 34.07% (122 registrations), Bistrița-Năsăud at 27.82% (170), and Buzău at 23.23% (191) . Several of these counties are primarily agricultural, which aligns with the broader uptick in agriculture-related registrations.

Business Lifecycle: Exceeded Registrations But The Gap Is Narrowing

May recorded 14,478 total business exits (suspensions, dissolutions, and deregistrations), outpacing the 12,427 new registrations and yielding a net loss of -2,051 businesses for the month . The registrations-to-exits ratio stood at 0.86, meaning roughly 86 new businesses were created for every 100 that exited .

However, the trend is improving. The health ratio trend indicator rose by 0.03 and the net growth trend showed a +390 improvement compared to previous months , suggesting the contraction may be easing.

Breaking down the exits, deregistrations accounted for the largest share at 8,468 (virtually flat year-over-year at +0.95%), followed by dissolutions at 4,595 (down 3.39%), and suspensions at 1,415 (down 16.42% year-over-year) . The notable decline in suspensions — where companies temporarily pause rather than permanently close — could signal that fewer businesses are struggling to stay afloat, or that struggling businesses are now moving directly to permanent closure.

Bucharest recorded the highest number of deregistrations at 1,553, followed by Cluj (470), Bihor (391), and Constanța (356) . The churn rate — business exits per 100 registrations — was highest in Bihor at 154.8% and lowest in Ilfov at 71.5% , reflecting wide regional variation in business stability.

The 12-Month View

The 12-month moving average for registrations now stands at 13,288, down slightly from 13,326 in the previous period , confirming a gradual softening of the registration trend over the last year.

Bottom Line

May 2026 presents a mixed picture for Romania’s business environment. Total registrations continue to edge lower, driven predominantly by a sharp drop in SRL formations. Yet the surge in PFA and individual enterprise registrations, coupled with strong growth in manufacturing, agriculture, and IT, indicates that entrepreneurial activity is not shrinking — it is transforming. The persistent gap between business creations and exits remains a concern, but the direction of key ecosystem health indicators suggests the worst of the contraction may be behind us.