Why Set Up a Company in Dubai?

Dubai remains one of the world’s most attractive hubs for entrepreneurs. With 100% foreign ownership now available across most business types and the continued absence of personal income tax, it’s a magnet for global founders. Add to that world-class infrastructure, direct trade access to Europe, Asia, and Africa, and a tech-forward economy—Dubai is more than a destination; it’s a launchpad.

Step 1: Choose Your Business Activity

Every business in Dubai must clearly define its core activity. Whether you’re launching a consulting firm, opening an online store, or establishing a logistics brand, your declared activity will shape the legal form and licensing you’ll need.

Some of the most in-demand activities in 2025 include e-commerce, fintech, import/export, and wellness services.

Step 2: Select the Right Jurisdiction

You have three main options for company formation in Dubai: mainland, free zone, and offshore. Each serves a distinct purpose and offers its own benefits.

Mainland companies are allowed unrestricted trade across the UAE and are eligible for government contracts. Since 2021, many sectors have permitted 100% foreign ownership without requiring a local sponsor.

Free zone companies offer tax holidays, 100% ownership, capital repatriation, and a fast-tracked setup process. They’re ideal for international trade and businesses that don’t need a local UAE market presence.

Offshore structures, like those in Ras Al Khaimah (RAK) or JAFZA, are best for asset protection or global investment holding, but cannot trade directly in the UAE.

Step 3: Choose a Legal Structure

Dubai offers a flexible menu of company structures. An LLC is common for most operational businesses, while Free Zone Establishments (FZEs) work well for solo founders. Branch offices are available for foreign entities looking to expand into the region. The choice impacts liability, compliance, and costs.

Step 4: Register a Trade Name

Your business name must be unique, align with local naming standards, and reflect your activity. You’ll register this name through the DED for mainland businesses or via the relevant free zone authority.

Step 5: Apply for Initial Approval

Once your name is secured, you’ll apply for initial approval by submitting shareholder documents and your business model. This stage confirms that your activity and business plan align with UAE regulations.

Step 6: Draft the MOA (Memorandum of Association)

This document defines your company’s ownership structure and management responsibilities. It’s required for LLCs and helps clarify partner roles.

Step 7: Choose an Office Space

You can opt for physical premises or a flexi-desk/virtual office, especially if you operate in a free zone. Some free zones offer bundled packages that include licensing, office space, and visa quotas.

Step 8: Get Final Approvals & Pay Fees

With your documents in place and office confirmed, you’ll submit everything for final government approval. This includes payment of licensing, registration, and immigration fees. Once completed, you’ll receive your official business license.

Step 9: Register for VAT (If Applicable)

If your annual turnover exceeds AED 375,000, VAT registration is mandatory. This process is handled through the Federal Tax Authority’s portal.

Step 10: Open a Corporate Bank Account

Opening a business account requires submitting your license, MOA, proof of office, and shareholder documents. Due to tightened regulations, UAE banks have strict compliance checks. A business consultant can help you navigate the process efficiently.

What Does It Cost to Set Up a Company in Dubai?

While exact figures vary by jurisdiction and business type, here’s what you should budget for in 2025:

Expect your business license to cost between $3,000 and $7,000, depending on the type of activity and whether you opt for a free zone or mainland structure. If you’re looking for a flexible package with minimal infrastructure needs, shared or flexi-desk offices in a free zone typically start at around $2,000 annually, increasing to $5,000 for more premium locations.

Trade name registration is relatively affordable, ranging between $150 and $300. You’ll also need to factor in residency visas and medicals, which usually cost between $1,000 and $1,500 per applicant, including the company’s owner or manager.

When it comes to corporate bank accounts, some banks charge a one-time onboarding fee up to $500, especially for foreign shareholders. Monthly account minimums may also apply.

Remember, these are core setup costs. Additional expenses, such as professional services, legal fees, customs codes, or extra visa quotas, could increase your budget.

Taxation for Companies in Dubai in 2025: What You Must Know

The UAE remains tax-friendly, but 2025 brings a few rules you must understand:

• Corporate tax of 9% applies to net profits above AED 375,000. If you operate in a qualifying free zone and follow compliance requirements, you may still benefit from a 0% rate.
• Personal income tax does not exist in the UAE.
• VAT at 5% applies to most goods and services and requires timely registration if you cross the revenue threshold.

Launch Your Company with Expert Help

Dubai offers incredible potential, but the process can feel overwhelming if you’re doing it solo. From selecting the right free zone to navigating unexpected documentation delays, having expert help makes all the difference.

We partner with the best local consultants who can fast-track your launch, avoid mistakes, and handle your paperwork, licensing, and bank account from start to finish.

Ready to launch your Dubai company?

Get a free consultation with our Dubai business setup experts and start your journey toward tax-optimized global business success.

The post How to Set Up a Zero-Tax Company in Dubai: A 2025 Complete Guide appeared first on Valahia.News.

As leave management is often done on paper, TIMEOFF GURU enters a market that will take advantage of the platform’s features.

Transforming Leave Management with TIMEOFF GURU

TIMEOFF GURU addresses managing employee time off, whether vacations or days off. It provides a comprehensive system that automates the entire leave management process. The software is a centralized hub for employees to submit leave requests, track remaining leave balances, and view company-wide vacation schedules.

This is so that anyone, from employees to management, can have a transparent view of the available days off and workforce for each period.

Managers benefit from simplified approval workflows, balanced staffing, and comprehensive reporting capabilities, enabling better leave forecasting and strategic planning​.

TIMEOFF GURU: Key Features and Benefits

TIMEOFF GURU offers multiple features that cater to the specific needs of modern businesses, this time in Romanian as well. Here are some benefits if you are still wondering why time off tracking software should be used instead of paperwork.

Enhanced Transparency: TIMEOFF GURU ensures a clear overview of employee leave balances and upcoming absences, empowering employees to manage their time off effectively.

Simplified Request Process: Employees can submit vacation requests electronically, eliminating the need for paper forms and endless email chains. This streamlines the process, saving valuable time.

Improved Approval Workflow: Managers can quickly view team schedules, assess staffing needs, and approve or deny requests with a few clicks, ensuring a smooth approval process.

Reduced Administrative Burden: The system automates repetitive tasks like calculating remaining balances and generating reports, freeing up HR and management time for more strategic initiatives.

Boosted Employee Morale: A streamlined and transparent leave management system empowers employees and shows that their well-being is valued, contributing to higher job satisfaction and productivity​.

Why Choose TIMEOFF GURU as a Romanian Company?

While we know that Romanian companies, small or medium, still use paper to request, get approved, and track time off, here are some reasons why all these companies should try this software for free.

• Multiple Leave Type Tracking: The software can track various types of leave, including sick leave, vacation days, and personal leave, all adapted to the Romanian legislation
• Customizable Workflows: Tailor the approval process to meet your organization’s needs.
• Integration Capabilities: Seamlessly integrate with existing systems in the HR departments or the company.
• Mobile Accessibility: Access the system and manage leave requests on the go with mobile apps for iOS and Android.

With extensive experience and a proven track record, TIMEOFF GURU has processed over half a million leave requests for over 1,000 organizations, serving over 50,000 users. The system’s robust security measures, including compliance with ISO standards for information security and IT services management, ensure your data is well-protected and handled with the utmost care​.

The good news is that TIMEOFF GURU is free for companies up to 10 users, while for more than 10 users a subscription of EUR 1 per employee is more than affordable for all the benefits mentioned above.

About TIMEOFF GURU

TIMEOFF GURU is a product of IBS Bulgaria that is dedicated to providing innovative solutions for efficient leave management. By embracing this modern approach, businesses can eliminate paper trails, reduce administrative costs, and create a more employee-centric work environment.

Businesses in Romania can now benefit from a modern, efficient, and transparent leave management solution.

The post TIMEOFF.GURU Launches e-Leave Management Platform in Romania appeared first on Valahia.News.

KFC CEE has the ambition to be the leading quick-service restaurant in the region, with an average of 100 stores slated to open annually. As the restaurants scale, KFC also grows its employee base, leveraging its S.T.A.R.T. Refugees Program to hire more than 2,500 refugees over the next three years. 

Maria Cacciapuoti, General Manager in Central Eastern Europe, leads the region’s operations with a focus on scaling a talented team and leveraging partnerships with 20 franchisees across 26 countries to maintain its status as a high-performing region.

About KFC

KFC is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created the Original Recipe more than 90 years ago, a list of 11 secret herbs and spices scratched out on the back of the door to his kitchen. Today, while honouring our heritage, we remain committed to modernizing the colonel’s vision by serving feel-good food at scale through inclusive, equitable and sustainable business practices. We continue to follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 29,000 restaurants in nearly 150 countries and territories worldwide.

The post KFC Opens in Romania 1,000th Restaurant in Central & Eastern Europe appeared first on Valahia.News.

A recent study by IFN analyzed why Romanians chose to apply for loans and what credit options Romanian entrepreneurs chose in anticipation of a possible crisis.

Suppose the anticipated crisis is like locking the door for some business owners. In that case, others see it as an opportunity and are looking for financing options now to get through the rather challenging phase that is likely to come next. Some business owners choose bank loans. But what should you do if you already have a loan, or if the bank where you opened the account has restrictions on credit that prevent you from getting one?

The study was conducted on 3,200 financing requests by Romanians over the summer. Cities like Bucharest, Cluj, and Iasi receive the most applications from Romanians, followed by Ploiesti, Timisoara, and Brasov. Constanta and Craiova come in last regarding the number of requests for non-bank loans among significant cities.

Based on the data, the following conclusions can be drawn about how and why Romanians borrow in advance of a financial crisis:

The types of credit that most Romanians apply for are:

• Loan for personal needs with a real estate guarantee of 31%
• Loan for legal entities with a real estate guarantee of 12%
• Credit for real estate projects 27%
• Credit for businesses in HoReCa 10% (hospitality industry)
• Entrepreneur Loan 11%
• Mortgage Loan 9%

Age of applicants – most applicants are between 35-44 years old:

• 18-24: 13.93%
• 25-34: 19.59%
• 35-44: 25.19%
• 45-54: 23.85%
• 55-64: 9.55%
• over 65: 7.88%

Amounts requested – a quarter of applicants request more than EUR 20,000:

• 40% applies for amounts up to EUR 10,000
• 35% applies for amounts up to EUR 20,000
• 25% applies for amounts over EUR 20,000

According to the study, in Romania, IFN issued loans totalling more than EUR 15 million by the end of 2021, with the most significant credit amount being EUR 3,000,000.

How Romanians apply for non-bank loans:

• 72% of Romanians use online
• 15% of Romanians go directly to the headquarters of the non-banking institution
• 7% apply by phone
• 6% apply through financial intermediation companies

Loan granting period:

• 85% of the loans granted were approved in 5 working days
• 15% of loans received approval up to 10 working days, depending on the complexity of the applicant’s situation

What type of interest rate do Romanians prefer:

• 90% prefer a fixed interest rate throughout the duration of the contract, while only 10% want a variable interest

Why do real estate developers borrow during this period:

• 63% of developers borrow to start a new real estate development project
• 37% is borrowed for the completion of the already started construction

The nature of the constructions for which real estate developers borrow:

• 70% of the developers who accessed a non-bank loan build residential blocks, and 30% complexes of individual houses

The post Romanian Entrepreneurs Prepare for Crisis appeared first on Valahia.News.

Lavinia Lazar, the owner of Carlette, gave an exclusive interview in which she revealed surprising details behind the curtain of a jewellery brand. Here’s the full video interview with the Carlette Jewellery owner:

Interview with Lavinia Lazar

Hello, everyone! We are starting our interview series with an exceptional guest. Her name is Lavinia Lazar. She’s a Romanian businesswoman who created the jewellery line called Carlette.
In this video, we will discuss her journey in creating this line, her challenges, and her future plans. Hi Lavina! Thank you so much for accepting our invitation. How are you?

Lavinia Lazar: Thank you very much for inviting me today. It’s an honour and a pleasure to discuss about Carlette, which is actually quite a strong passion of mine. And I’m looking forward to revealing to you and your audience some of the secrets of the Carlette story.

Recently, we have included you in our top 10 Romanian jewellery designers. What inspired you to start Carlette as a new jewellery brand?

Lavinia Lazar: Thank you very much. The presence, our presence, and Carlette’s presence in this top 10 of Romanian Jewellery is an honour and recognition for the effort of my team and our partners working in the success of our brand. Carlette was born out of a passion of mine since I was a child, a passion that was following me through all my career and for my personality and development, and during the pandemic, where everybody was settling down and calming, I have found the time as well as the resources actually to dedicate it to my passion, and I have started to create, to scribble the brand Carlette as well as the entire concept. To be more precise, to answer your question, one day, I was coming back from one of my business trips in London, and during the trip, I was actually scribbling on the piece of the airline’s napkin the entire concept of Carlette as well as not only the design actually, with the pieces with the Carlettes to the basic system as well, but also the logo and the brand and the entire concept behind Carlette.

But why Carlette? What is the meaning behind this name and logo?

Lavinia Lazar: I think, like any entrepreneur, they are trying to find the right name or the right colour of the brand that resonates with the emotion and each customer. Carlette has a personal story because my daughter is called Carla. From here, the emotion, I would say the innocence, the beauty of a child combined with my longtime passion and strong ambition created a name that it’s resonating with the I would say sensuality of jewellery, and also with the power of double t into the brand, which describes the personality of each of us, but also with the femininity that Carlette is bringing just by pronouncing the world itself. All these words that I’ve just described the brand and how I actually based the name on these pillars, they were defined and can also be discovered by your customers in the collection that we are heading today in the market.

What sets Carlette apart from other jewellery brands? What’s the uniqueness?

Lavinia Lazar: Carlette differentiates itself from our competitors and other jewellery brands through the innovation we are trying to bring into a mature market. The patented design we have had in Switzerland, not only for the Swiss market but also internationally, allows each of our customers to be part of the design before the final product is sent into the market. In other words, we are introducing not only an innovation in the design but also innovation into a business model, meaning that I’m saying that we are inviting the final customers to define and align with their personality features as well because Carlette allows you to extend, retract, add and subtract the Carlette pieces which are the interchangeable charms that we have created for all our customers, to adapt to the event that we have in every day, the mood and also to be versatile for the personality that we have and also for the style. It’s very hard to believe that the big designers currently ruling the market today consider that we have a single style from the day we are born to the day we die. So this style is also versatile and changes according to the events or according to the people that are coming into our lives. And this is why Carlette is an answer for all of us, and in my opinion, Carlette could also be a trend-setting in the jewellery market in future.

What does modular jewellery mean, and how does Carlette innovate in this field?

Lavinia Lazar: I love this question all the time because modular jewellery is exactly what describes Carlette. It is adding or retracting the piece we have created for our customers to change and add beauty to our jewellery pieces. Modularity means that we can adapt. We can adapt to the colours that we are wearing today, and we can adapt to the environment in which we’re going. It can bring the modular thinking and the modular facets of our personality reflected into the pieces of jewelry. So modularity for Carlette means the different personalities we have in the different situations we are in. It can also mean the lady or the woman itself, and the beauty inside beauty of each other that can wear a piece of jewellery without thinking that she needs to protect her pieces of jewellery from creams and perfumes or prevent allergy to some of the materials. The majority of Carlette is allowing each of us as we are, to wear the pieces of jewelry and create the design the way we feel it matches us.

What were the challenges of patenting a jewellery mechanism in Switzerland?

Lavinia Lazar: Wow, it was a big journey with many challenges. I had a bit of naive craziness to start doing and patenting the design into a world of watches or designs and jewelry pieces. But I really believed in the idea and the innovation itself. Because many women like me need this type of piece of jewelry where we have a base system to which we can then add, allowing us to be optimized in the budget, having an excellent quality that can resist over time and external, internal factors and also allowing us to be versatile and express our inner mood through the jewelry.

Would you encourage foreign investors to invest in the Romania market or rather in Swiss or other markets?

Lavinia Lazar: The Swiss market is supporting startup companies very much. A variety of funds and investors are looking for new ideas to create a development not only for us as a customer but also for the environment. So opening the company and investing in a company in Switzerland was not as difficult as I thought. Once the language barrier is crossed, the country and the countries we’re living in support us a lot. But on the other side, the Romanian market is so close to our hearts. We cannot just by leaving or because destiny is bringing us to another country or career or any other path, forget Romania. I cannot advise an investor to invest more in Switzerland or Romania. I think the opportunities do business are done by the return of investment, but also, it’s driven by the people you’re working with. So that’s, in my opinion, the criteria that can define a decision to invest in Switzerland, Romania or any other countries in Europe and outside Europe.

What celebrity from Romania or abroad would you like to see wearing your jewellery line?

Lavinia Lazar: Uh, that’s a nice question, and I hope I’m not making any enemies today. So I would like everybody, every celebrity, and every single woman to wake up in the morning and think about what kind of Carlette they would like to wear today and how versatile they would like to be. I have my personal preferences in terms of celebrities. Still, the celebrities that I would like to wear Carlette and identify with the Carlette girl concept is the type of person that is very playful inside and outside. It’s also young in spirit, and it’s also very modern, fashionable and has the courage to express itself and define itself and redefine itself every time of the day. There are many celebrities and many people that can do that. Still, I would definitely like to be represented by some of the Hollywood celebrities today, as well as our VIPs in Romania, who I believe has huge potential not just inside our borders but outside.

Would you encourage women who want to start a career as an entrepreneur?

Lavinia Lazar: I encourage everybody to go or walk on this path of being an entrepreneur and being an entrepreneur it’s a hard job. Entrepreneur means, of course, and everybody is describing as a key of success following your dreams, achieving what you have always wanted, following your passion, hard work, and we have many successful startups that today they also have security, and financial security as well. In my experience, which I’m very much at the beginning of being an entrepreneur, an entrepreneur needs to fit your personality as well. I don’t believe that everybody can become an entrepreneur. Everybody can maybe speak and have opinions of what an entrepreneur means.
But it’s quite a difficult path, I have to say, and it requires a lot of determination, ambition, experience and always the right people around you. In my opinion, you cannot be an entrepreneur by yourself. The team defines your success as an entrepreneur.

What plans do you have for the future?

Lavinia Lazar: We have big dreams, and our vision, the Carlette vision, is actually to extend our patented design outside of the jewellery market. We want to find the right investor who is supporting us and believes in our idea to help us get into the gadgets accessories, bags accessories, sunglasses accessories, and shoe accessories. Because our patent, modularity and versatility that we are bringing with Carlette can apply to all the areas that define the accessories world. And why not? I mean, the world is full of options. Maybe there are opportunities that I’m not even thinking of right now. So, our vision is to become the first choice of every woman in Europe, outside Europe, internationally, and worldwide when they wake up in the morning and they have difficulties choosing the right accessory that defines their mood and precisely when they have an active lifestyle that brings together also the challenges of daily life as a mom, as a business person, as a friend, as a supporter in all the facets of our personalities, and that’s our vision to scale up and to become a choice of each of us.

Great. Thank you so much again for accepting our invitation. And good luck with your expansion in the international market. I hope we will see us soon.

Lavinia Lazar: Thank you very much! We are expanding now in other countries besides Romania, Switzerland, Germany, Belgium, and France. We welcome all your audience and the participants today to check us where we are, follow us everywhere and join our journey. Thank you!

The post Interview with Lavinia Lazar – Owner of Carlette Jewellery appeared first on Valahia.News.

Carlette Jewellery was born at the initiative of strong women with an entrepreneurial spirit, but at the same time out of the desire to offer more sensuality to women who wear this brand of jewellery. Under the slogan “Be Sensual. Be Unforgiven. Be You”, Carlette Jewellery highlights the sensuality of women, but at the same time encourages them to discover their self-confidence and define their style.

Jewellery is a woman’s best friend, and we want to highlight the beauty and unique personality of each of us by adopting a simple, elegant and versatile style at the same time

Lavinia Lazăr, Creator of Carlette Jewellery

Carlette launches in Romania on March 8 to offer the ladies and gentlemen who will wear this brand of passionately executed jewellery a unique style, carefully created in Carlette’s workshops in Switzerland.

Carlette offers a wide range of collections: earrings, chains, bracelets and of course, the “carlette” talismans, which also give the brand name, which can be matched as each person wants, to create a unique, customized style.

The refinement and simplicity of the jewellery provide elegance to both everyday and workplace outfits, as well as glam costumes. Carlette comes today to complete the brilliance, elegance, performance and personal development of women in Romania.

Lavinia Lazăr, Creator of Carlette Jewellery

The Swiss brand Carlette Jewellery at the CONAF event

The Swiss jewellery brand Carlette Jewellery has chosen to be present for the first time in Romania at the event organized by CONAF, Gala “Women in Economy, Beyond Borders”, on March 8 at the Romanian Athenaeum. Because “The merits of the ladies who have changed and are changing Romania must be recognized”, Carlette Jewellery sponsors the awards offered. The gesture is motivated by the conviction that it is essential to recognize the importance of women in the Romanian economy and society and the importance of business partnerships internationally.

It is no coincidence that we chose to bring the Carlette brand to the Romanian jewellery market during this major event. We believe that women everywhere should be appreciated for their contribution to the economy and society. Women are capable, and their role in society will always be significant. That is why we support this initiative of the National Confederation for Women Entrepreneurship to celebrate women, and we have chosen to launch the exclusive Carlette Jewellery brand in a context that highlights the power and entrepreneurial spirit of women.

Anca Borza, country manager for Romania of the Carlette Jewellery

Innovation, quality and excellence in jewellery design – a unique patented mechanism

The Carlette jewellery brand has developed an innovative locking mechanism patented in Switzerland and the European Union. The screwdriver system allows you to easily combine, or change a Carlette charm, to create unique jewellery. The mechanism applies to both bracelets and necklaces. We can leave the bracelet or the chain only with the essential piece if we want a simple look, or we can choose a few Carlette pieces to match as we consider and create our style according to the interior condition. The Carlette mechanism was designed in the spirit of Swiss innovation and is a symbiosis between the precision of Swiss instruments and excellence in creating simple, attractive accessories suitable for any occasion.

The jewellery is made of stainless steel plated with rhodium and rose gold. The plating is done in six layers by the PVD method to protect the metal from scratches stains, make it resistant to active solutions and perfume, and give the jewellery its specific look. In addition, faceted stones give the pieces attractiveness, delicacy and a lovely shine.

Jewellery is a woman’s most precious accessory, and we have created unique collections to complement their outfits, regardless of the time of day. Women deserve to be in the spotlight, and Carlette will help them capture everyone’s attention. When you step into a room, all eyes will be on you, and your confidence when you wear Carlette will be seen in the attitude that everyone around you will notice,

Michelle Schmidt, Carlette’s customer experience manager.

About Carlette Jewellery

Carlette Jewellery is a Swiss brand that brings innovation and sensuality to all women who want to enjoy jewellery worn on any occasion.

Carlette Jewellery is driven by a desire to create beautiful things. It is gaining popularity worldwide because of the variety of combinations that can be made thanks to the one-of-a-kind, inventive mechanism. Carlette Jewellery collaborates with online clothing stores to complement the existing offer and customer loyalty by offering elegant, versatile and high-quality accessories.

The post Romanian Entrepreneur Registers Patent of Unique Mechanism for Jewellery in Switzerland appeared first on Valahia.News.

This opinion poll isn’t surprising, as the energy costs have skyrocketed lately. Therefore, over 34% of the entrepreneurs say that they will reduce the number of employees due to the increase in electricity and gas bills, and 8% will close their company, according to the survey conducted by CNIPMMR.

Half of the 2260 entrepreneurs interviewed said their energy bills increased by 50%, and some showed that more than double the usual amount. Only 0.41% indicated that their energy bill remained the same.

Regarding gas bills, 37% of the entrepreneurs declared that their bill amount increased by 50%, while 29% said they paid double. 20% said that the bill has more than doubled, and 5.4% stated that the gas bill did not increase or remain the same.

What measures do the Romanian entrepreneurs take to cope with the huge energy bills?

The purpose of this survey, conducted by CNIPMMR, was to identify the measures that entrepreneurs would take to reduce losses.

• 76% said they would reduce or postpone investments
• 44% said they would reduce the company’s activity,
• 38% said they would defer the acquisition of digitization programs.
• 35% said they would reduce the number of employees
• 8% said they would close the company.

According to CNIPMMR president Florin Jianu, the most important of the survey’s conclusions is that, unfortunately, almost one of ten companies will be forced to close in the next period following the increasing energy bills.

Suppose the prices of energy and gas bills will continue to rise. In that case, many more entrepreneurs will have to make difficult decisions such as dismissing employees to maintain the business on track or, in the worse case, to close. Either way, the outcome of this will leave many people unemployed. For all those who find it challenging to survive this difficult period, we compiled some advice in the following material: How to survive the economic crisis as an entrepreneur. Maybe this would help at least some entrepreneurs facing tough times ahead.

The post Opinion Poll: 1 in 3 Romanian Companies to Fire Employees following Huge Energy Bills appeared first on Valahia.News.

In February 2021, 40 billion more emails were sent more than in February 2020. Moreover, more than 46% of the global workforce is thinking of moving and more than 40% of the global workforce is thinking of changing their jobs.

“Collaboration trends in Microsoft Teams and Outlook suggest that our networks have contracted, but hybrid work will revive them. Meeting time has doubled globally, with more than 40  billions of emails sent in February this year  than the same month last year. Work has become more humane. Almost 40% of respondents say they feel more comfortable being at work than before the pandemic, and one in six respondents say he was more open to expressing emotional difficulties with a colleague this year “

Microsoft Work Trend Index report 2021

Given that 73% of employees surveyed want to continue working from home, the new labor market outlines seven hybrid work trends that entrepreneurs need to adapt to:

1. Flexible working models will be implemented in the long term; 
2. Leaders have lost direct contact with employees and need to connect to the new reality; 
3. High productivity masks employee exhaustion; 
4. Generation Z is at risk and needs a boost and a new source of energy; 
5. Increasingly limited collaboration endangers innovation capacity; 
6. Authenticity will boost employee productivity and well-being; 
7. In a world of hybrid work, talent is everywhere.

If the current labor market for employees comes with opportunities such as flexible working hours, the ability to work from anywhere and the advantage of finding a job that increasingly meets their needs, employers need to consider different strategies to help them to adapt to the new context. From creating a plan to keep employees up to date with flexible ways of working, to investing in workspaces and technologies that connect the digital to the physical, from combating digital exhaustion to rethinking the employee experience to stay competitive in order to attract the best and most diverse talents, all are aspects not to be neglected.

One thing is certain: the IT market is constantly growing

The software industry in Romania is one of the key industries for the country’s economy. With a turnover representing more than 5% of the country’s GDP, the software industry grows every year both in terms of revenue and staff. With an increase in the number of employees of over 43% in the last 5 years, those 130,000 Romanians working in the IT field are not enough to cover the needs. Romania ranks first in the EU in the shortage of employees in this field, the need being estimated at tens of thousands of specialists, according to professional associations.

The Coronavirus pandemic led to an immediate and urgent need to digitize many key areas in Romania, so that IT companies had the opportunity to quickly develop and deliver relevant software solutions. From the development of e-commerce sites, with the percentage of online shopping growing by at least 36% in 2020, to the digitization of key services, such as the banking industry, local software developers have successfully met market demands.

Digital nomad in Romania – a new trend on the labor market

Romania has one of the fastest technological growth in the whole of Central and Eastern Europe. With very low internet costs, but with very good quality services, a digital nomad will always find Romania as the perfect place to carry out the activity.

“With only EUR 8 a month for broadband and around EUR 300 monthly rent for a bedroom apartment, Romania is considered to be a very attractive destination for the digital nomads worldwide. They could help us find good IT developers or digital marketers who are willing to work in a creative environment, in a country which is affordable to live in, but also is a member of the European Union.” 

Catalin ADAM, TUYA Digital

The evolution of the labor market in the coming years will depend strictly on everyone’s ability to adapt to new trends. Whether we choose to move to less crowded areas and work entirely remotely, or we choose to stay in crowded cities and go to the office, both employers and employees need to take the time to adapt to the changes.

Will companies get back to their corporate offices after the pandemic is over? Will employees adapt to the new demands of their employers? Are we living a capital change in the way we work and live on this planet?

Disregard of what will be, one thing is for sure: nowadays and in the future, the power to adapt to changes is the key for success for both companies and individuals.

The post Microsoft Work Trend Index Report 2021: How Pandemic Changed the Way We Work appeared first on Valahia.News.

Some of you might find this article too optimistic. Some might consider your situation too difficult to cope with. Some say 25 million jobs will be lost worldwide during this crisis. Disregard of the case, this article encourages you, as an entrepreneur, to go on or, in the worst case scenario, to pause your activity for a few months. This crisis will be over and the good times will return.

Economic context during COVID-19 measures

The governments from all over the world took drastic measures for combating the virus. Among these measures, some which hit the national economies very hard: closing the restaurants and pubs, beauty salons and public gyms, forbidding public activities and even closing down entire cities. A disaster for the economy.

On top of this, authorities all over the world recommended or even ordered their citizens to stay at home, in an attempt to combat the spread of Coronavirus.

All these lead to a big hit taken by all the small businesses which depend on the people’s presence for continuing their activity, such as the restaurants, gyms or cosmetic salons. These entrepreneurial initiatives can’t survive without customers, and now their customers are isolated and quarantined at home.

On the other hand, there are companies who depend on other companies, and the bankruptcy or even the economic difficulties of a company determines, on a supply-and-demand chain, problems for lots of others.

What should you do in this situation?

5 Advices for the entreprenerus to follow during COVID-19 economic crisis

1. Don’t panic

First off, don’t panic, don’t despair. It is very important to take decisions rationally. Besides protecting yourself from getting infected, you also have to protect your business from bankruptcy.

Calm down. Try and think about the measures to be taken in a rational manner.

Whether you decide to go on for a period, to see if you can survive, whether you think about closing temporarily, it’s important your decision is not influenced by fear or panic. If you are an entrepreneur, you are a survivor. You will pass over this as you did over most of the obstacles you met along your way.

2. Plan everything for at least the future 3 months

The pandemic is to be over in a few months, might they be 3 or 6. The China’s example is the best one: they got rid of the virus in a few months, by taking the most drastic measures ever. This allows them now to start working again, after closing almost all the economic activities in the last 3 months.

Of course, depending from country to country, the economic crisis generated by Coronavirus might took longer to end. UK is one of the European countries which took the necessary isolation measures later than other countries, which might mean it will take them longer to defeat Coronavirus spread and to get their economy back on track.

Still, in most of the countries, if the necessary measures are taken in due time, everything will be over in 3-6 months. Again, China is the best example to confirm this.

So, plan everything for the next 3 months. Don’t close permanently, close temporarily or, if possible, go online.

3. Evaluate your business model and look for opportunities

You might have a restaurant which was ordered to shut down. It doesn’t mean it ceased to exist as a business. You can adapt. Deliver at home.

You might have a store selling dog food. Your clients won’t go to your shop anymore, but you can move your business online. Run Facebook ads, target the right audience and get online or phone orders. Deliver at home.

You might have a marketing agency providing digital marketing for your clients. Talk to your clients, see what’s their perspective. See what you can do for them during this period. Some might close temporarily, some might close their doors definitely, but some might try and continue their business during these months. Offer your services to those who need them most and thus you can get more clients.

Anyway, get back to the point 2: plan your business ahead as the crisis is going to end in the future 3 months.

Very important: keep close relations with your clients. They’re going to get back to you after the Coronavirus pandemic is over.

4. Keep investing in marketing

Keep communicating with your customers or with your potential customers. Whether you choose to move online or to start delivering at home for your clients, tell them. Create a Facebook post and announce that. Run some Google ads.Make sure your services or products are visible for those who stay at home.

We don’t advise you to increase your marketing budget, but for sure you need to adopt a marketing during recession strategy. The guys from TUYA Digital think this is the best tactic to adopt during recession. We can’t argue with this opinion, but this can be applied only in certain cases. If the Government close your business, there’s nothing more you can do about it, but re-invent yourself.

Henry Ford said “A man who stops advertising to save money, is like a man who stops a clock to save time.” So, keep investing in marketing, keep advertising your products.

Of course, this advice might not apply to some of you. Some might consider closing the business and re-start marketing after the crisis is over. Some might not have enough capital to run ads. So this depends from situation to situation.

5. Take care of your employees

Your employees are, along with your clients. the best assets of your company. Make sure they’re both OK.

Especially, when it comes to your employees, you are the one responsible for their health and wealth. Make sure they work from home to avoid getting infected or, if they can’t, make sure they know how to protect themselves from getting infected.

Also, if they are to be sent at home temporarily, make sure you offer them all the advantages possible in this case. This is from country to country, but governments took some measures to help entrepreneurs during this hard times. In some cases, there might be a state help scheme for those whose businesses suffer from Coronavirus crisis, or there might be a help to pay your employees a certain amount of their regular salary.

Check with your national authorities to see what kind of help they offer for employers or employees.

Instead of conclusion

The health crisis might be over in the next 3 months, if we look at what happened in China. The economic crisis might be over in the next 6 months, if entrepreneurs like you will re-open their business after the pandemic is over.

If you can keep your business alive during this period, do it. If you can’t, make sure you close it temporarily and offer your employees economic compensations.

Stay safe and be confident in your future!

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