Quarterly Analysis: August-October 2025

Romania’s business registration landscape demonstrated robust growth throughout the third quarter of 2025, with significant year-over-year increases across all three months. The quarter was characterized by a notable shift toward individual entrepreneurship and continued strength in key service sectors.

Quarterly Performance Overview

The third quarter of 2025 showed consistent momentum, with total registrations reaching 42,119 across the three-month period . This represents substantial growth compared to the same period in 2024, when registrations totaled 29,576.

The quarter began with August showing the strongest year-over-year growth at 116.24% , followed by September at 54.51% , and October at 7.96% .

Entity Type Evolution: The PFA Revolution

The most significant trend of the quarter was the dramatic surge in PFA (Authorized Physical Person) registrations. In October alone, PFA registrations reached 5,935 , representing a 67.37% increase compared to October 2024 .

This pattern was consistent throughout the quarter:

• August: 3,415 PFA registrations, up 177.64% year-over-year
• September: 4,938 PFA registrations, up 117.53% year-over-year

Meanwhile, SRL (Limited Liability Company) registrations showed more modest growth, with October actually recording a 12.51% decline compared to the same month last year .

Industry Sector Performance

The transportation and storage sector emerged as the dominant industry in October 2025, with 21,492 registrations , representing a 60.33% increase over October 2024 .

Other strong performers included:

• Wholesale and retail trade: 20,294 registrations
• Professional, scientific and technical activities: 12,179 registrations
• Construction: 11,761 registrations
• Other service activities: 11,108 registrations

The manufacturing sector showed healthy growth with 5,952 registrations, up 37.24% year-over-year, while hotels and restaurants recorded 6,248 registrations, a 24.91% increase.

Regional Distribution

Bucharest continued to lead in business registrations with 3,510 in October , representing a 32.1% increase over October 2024. Ilfov County followed with 1,024 registrations, up 29.62%.

Notable growth was observed in coastal and border regions, with Constanța showing a 42.66% increase and Harghita recording a remarkable 60.87% growth rate.

Business Ecosystem Health

The business ecosystem showed positive health indicators in October 2025, with registrations exceeding business exits. The net growth of 3,041 companies and a health ratio of 1.24 indicate a growing business environment.

Business exits totaled 12,833 in October , with deregistrations showing a significant 26.44% decrease compared to October 2024 .

Quarterly Assessment

The third quarter of 2025 demonstrated strong, sustainable growth in Romania’s business registration landscape. The shift toward individual entrepreneurship through PFA structures suggests evolving business preferences, possibly influenced by regulatory changes or economic conditions favoring smaller, more flexible business models.

The consistent performance across the quarter, with October’s 12-month moving average reaching 12,250 , indicates stable underlying demand for business formation. The transportation sector’s dominance reflects ongoing logistics and supply chain development, while continued strength in professional services and construction points to broad-based economic activity.

Compared to the same quarter in 2024, the 42.4% overall increase in registrations demonstrates significant momentum in Romania’s entrepreneurial ecosystem, with particularly strong performance in individual business formations and key service sectors.