September 2025 Analysis Reveals Disturbing Churn Patterns Despite Strong Registration Numbers

Explosive Growth, But at What Cost?

Romania’s business landscape showed dramatic growth in September 2025, with **14,810 - a staggering 54.5% increase compared to September 2024. However, suggests either unsustainable growth or potentially concerning market dynamics.

The PFA Explosion: Freelance Economy or Desperation?

The most dramatic growth came from Individual Enterprises (PFA), which exploded by 117.5% year-over-year to 4,938. This massive surge in freelance and individual business activity raises questions about whether this represents genuine entrepreneurship or workers forced into precarious self-employment.

Limited Liability Companies (SRLs), the backbone of Romania’s formal business sector, grew by 33.9% to 9,343 registrations, but this growth pales in comparison to the freelance explosion.

Regional Concentration Creates Vulnerability

The business registration landscape remains dangerously concentrated, with **Bucharest alone accounting for 3,366.

The top 10 counties accounted for over 70% of all registrations, creating significant geographic vulnerability. While counties like Alba saw explosive growth of 146.5% and Dolj grew by 102.5%, this rapid expansion in smaller markets may not be sustainable.

The Exit Crisis: More Businesses Closing Than Ever

The most alarming data comes from business lifecycle events. In September 2025, Romania witnessed 12,951 business exits through suspensions, dissolutions,.

Business dissolutions skyrocketed by 73.85% compared to September 2024, while suspensions increased by 39.95% and deregistrations rose by 25.42%.

Industry Shifts Signal Economic Stress

The industry breakdown reveals concerning patterns. While wholesale and retail trade led with 18,223 registrations and transport/storage followed with 17,828, the year-over-year comparisons show significant volatility in key sectors.

The construction sector, traditionally a bellwether for economic health, showed 10,513 registrations, but the data suggests potential reclassification issues that could mask underlying weakness in this critical industry.

Net Growth: A Fragile Foundation

Despite the strong registration numbers, the net business growth was only **1,859, representing a health ratio of just 1.14 - barely above the break-even point.

This means for every 100 businesses that entered the market, approximately 88 exited - a dangerously high churn rate that suggests many new businesses may not survive their first year.

The Bottom Line

Romania’s September 2025 business registration data paints a picture of explosive but potentially fragile growth. While the headline numbers appear strong, the accelerating pace of business exits, combined with the concentration of activity in specific regions and entity types, suggests underlying economic stress.

The dramatic growth in individual enterprises and the high churn rate raise serious questions about the sustainability of this entrepreneurial boom. With business dissolutions increasing by nearly 75% year-over-year, the Romanian economy may be experiencing a “quantity over quality” problem that could have significant consequences in the coming months.

Data current as of October 1, 2025