5 Great Business Ideas to Invest in 2024 in Romania [And, How to Launch One]

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5 Great Business Ideas to Invest in 2024 in Romania [And, How to Launch One]

The fiscal system has been changed once again, but this doesn’t make Romania less attractive. So, if you want to make some good businesses then you should consider Romania because it is still worth it, especially if we talk about an online business idea. 

Are you looking for the best business ideas for 2024, but unable to get it? Which is the best option? Don’t worry, we’re here to give you the best advice. Excited? So let’s get right into it with the best business ideas to invest in 2024 in Romania, and of course, how you can launch it.

First of all, Romania is still a great business environment and that’s why

I know that the ultimate fiscal changes are bigger than never, but there is also great news. Romania is still a great business environment and that’s why. 

The fiscal taxes are not growing so drastically, so you can register your new company here, and here are two reasons for this:

  • The microenterprise is still working and you will pay 1% or 3%, depending on your business activity. For example, if you have an IT company, you will pay 3% of your business income. You can check the conditions in one of our previous videos, I will link it here.
  • Also, the dividends will be taxed like before, only 8%. This is a great thing because there was a rumor that it should be increased. But for now, it’s fixed as it is.

Now, don’t waste time, let’s see which are the best business ideas to invest in 2024 in Romania.

5 Great Business Ideas to Invest in 2024 in Romania

To make more money you need to invest more money, work, or time, right? What if I tell you that you can do your business without investing too much money? Here are the best business ideas to invest in 2024 in Romania. What do you want to try?

#1 Print on demand

What do people think when they want to make a present for someone else? They want something pretty, but affordable and not the last thing, they want to be something memorable. So, here comes this wonderful idea to offer a personalized gift. 

And when there is a need, there is a business idea, right? And here we have our first business idea to start next year in Romania: a print-on-demand shop.

If you’re on the hunt for promising online business ideas but also, want to try something offline, then print-on-demand business is certainly worth your attention. In this business model, you craft designs for items like phone cases or t-shirts. But here’s the twist: you’re not doing the printing. This business is about customization because everyday items become blank canvases and your designs breathe life into them. 

Also, this is a cheap business idea, you will need a low investment to start, but definitely, I will definitely have a boom from the beginning.

#2 Video production

Another great business idea is coming from the services area. 

In the last few years, people have changed their preferences. From the blogs, they were starting to prefer the video content. Now, with more and more videos being watched than ever before, there’s certainly a need for people who can record, edit, cut, and publish videos. Therefore, starting a video production company might turn out to be a lucrative business idea for you. 

Are you interested in this type of business? Let’s see what you need for this type of business:

  • the initial investment for this venture: includes a basic lighting set, wireless microphones, one to two cameras (and lenses), and editing software
  • but also, will be better if you can be a great content provider that means you will also need some inspiration 

How can you grow? You can offer to produce video content for companies’ YouTube channels, manage graduation and wedding videography, and more. While there’s no restriction to the types of projects you can do, specializing in a niche makes it easy to stand out in a busy marketplace. 

#3 Online shop

Yes, this is still a great business idea even in 2024. So, if you want a profitable business, but with minimum investment you have come to the right place. An online shop is the solution, but this is not the whole thing. The real surprise is about what to sell. Simple! You take into account the avid need of Romanians for shopping, for a good image, to look good, but combine this with the fact that the economy is not going in a good direction, and Romanians’ budgets are getting tighter. Therefore, you sell second-hand clothes online.

If you take a look at the market, you will notice that many physical stores with this type of activity have opened everywhere, only in the online environment there is still a lot of space for you to appear with your own brand, without much effort, because it is a pretty weak competition. 

Moreover, this business idea is great not only for the opportunity but also because it does not require a large investment. 

What you will need:

  • a website
  • a laptop
  • and inspiration to find the customers.

Yes, you don’t need a warehouse, in fact, you can start selling directly from the stock you have made, which you don’t need to display in a space that needs to be rented. You can, at first, send orders from home and keep the clothes in one of the rooms, until the business brings you a consistent enough profit that you want to have a special warehouse.

Also, in the beginning, you don’t need to have employees, you can do all the jobs. 

Pay attention here: If you want to register a SRL for this business, then you will need a labor contract for you. You can opt for PFA, but unfortunately, you will pay more taxes so I don’t recommend it.

#4 Developing AI-based chatbots

If you are passionate about progress and technology, then this idea is perfect for you: Developing AI-based chatbots.

AI has become more and more a big part of our lives, especially in business. As we can see, many businesses have adopted the AI chatbot for customer support and personalized customer interactions. Emag is one of the best examples.

So, what do you think about this idea, can it be profitable for you? Let’s see why I think developing AI-powered chatbots is a great idea for startups in 2024. AI-based chatbots 

  1. have a growing demand
  2. they offer scalability and efficiency
  3. and also, cost savings (By automating routine customer interactions, companies can divert human resources to more complex tasks while chatbots handle repetitive requests).

What you will need? 

  1. A business plan
  2. A great technology team
  3. And, the initial investment. You can attract some investors, there are a lot of technology and AI-passionate people who can invest money in such a great business.

#5 IT Companies and Software Development Businesses

Even if the fiscal changes affect the IT sector, it is still a great business option and it feels like it still needs more people to satisfy the demand. 

So, as I like to say it, good ideas always stay in style, and an IT business is one of them. 

Why should you consider it?

  1. First of all, there is a great demand on the market, people are hungry for the next best app, for the next product.
  2. Although you can work remotely and for multiple clients simultaneously.
  3. You can attract investors who can give you the money to develop more IT business solutions
  4. This idea doesn’t require a big investment, at least, it doesn’t need so much money. Rather, it will need great professionals, and Romania has a lot of them.
  5. You can specialize your business in various niches, including but not limited to:
  • Web development
  • Mobile app development
  • Cloud computing
  • Cybersecurity
  • Data Analytics
  • Artificial intelligence
  • Software testing
  • Blockchain technology
  • Internet of Things (IoT)
  • Enterprise resource planning (ERP).

So, do you want to start a small business today? Here is how to Launch One

There you have it—a list of the best 5 small business ideas that will make you money in 2024. To give yourself the best chance of success, focus on one idea at a time until you find one that aligns with your abilities. Thousands of entrepreneurs have implemented these business ideas to make money, so you can be sure that you’re putting your time and effort into something viable and proven. 

But now, let’s see what you will need to launch one of these:

  1. First of all, you will need to decide about the business idea
  2. The next step is the investment. Yes, I know that there are some people who tell you that there are also some businesses that don’t provide any investment. This is not true, there exist businesses with low investment, like these, but not with Zero.
  3. After you have the money, you can start with the registration process. Being a non-resident the bureaucracy can be very exhausting for you. So I recommend you to get to a specialist to help you with the process. 
  4. Also, even if you register an SRL or PFA, you will need an accountant, so don’t forget about it, he is the one who will take care of your fiscal affairs.  

And now, the last thing, get started with your new business in Romania, and let’s make the economy expand, and your wallet too.

Autor: Viviana Popa, Consultant MBV Tax

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