February 2021 marks a year since the onset of the SARS-CoV-2 pandemic in Romania, a year in which the entrepreneurial environment suffered considerable losses. Thus, according to the data provided by the https://termene.ro/ platform, in 2020 no less than 8,985 companies from Romania went into insolvency. 68,212 companies requested the issuance of the state certificate of emergency for the suspension of activities (from various fields, from HoReCa, tourism, transport to entertainment and cultural activities), and 53,638 companies were deregistered. Also, 21,603 companies used the SME INVEST lending program to support the activity. 1.1 million people risk losing their jobs and becoming unemployed because they are employed in the 300,000 companies with high and very high risk of insolvency.
But, in 2020, 111,373 new companies were established. What is the chance of survival of those in financial difficulty and how can those recently launched on the market succeed in the long term, in an entrepreneurial environment of crisis, explains Remus Bălan, Program Manager of Business Mentors, who launches a module on February 17 new and useful to entrepreneurs, in order to certify themselves as Business Mentors and to teach others: “Revenue and Expenditure Budget” (BVC). “One of the major causes for which we live this situation today is the lack of creating a coherent budget of revenues and expenditures. Such an essential step in creating a business offers not only success, but also a vital financial shelter in case of such crisis situations as the one we are going through. In addition, although we are talking about over 100,000 new companies that appeared in the year of the pandemic, the chances for them to survive and prosper are very low without a clear business plan and without learning how to balance the income and expenditure ”.
Remus Bălan explains that, according to studies conducted in normal periods of the economy and a developing market, one in three companies does not survive the first year, and after 5 years, less than 10% of new companies remain in the market, of which have activity. Of these, about 70-80% stagnate at a level of survival and can not grow, can not scale, and this affects not only the company, but also the business environment in general. “All the more so now, in such a time of uncertainty, we need a rigorous control of money in the company, and this can be learned. That’s why we created, within the Business Mentors program, a certified and special module dedicated only to this topic: “Revenue and Expenditure Budget”.
In turn, the entrepreneur and business mentor Cristian Onețiu, who since March 2020 had the initiative to create the first free webinar, held nationwide in order to inform and restructure the business environment, but also to create a strong business community, says about the module BVC that it is a great learning opportunity for entrepreneurs. And, most importantly, involvement. Because those who will certify themselves as Business Mentors specializing in the budget of income and expenses can further help other entrepreneurs to increase their chances of success and predictable profit. “From February 17, we launch BVC with a new structure, developed exactly on this unprecedented reality of the market, with practical, concrete information adapted to the current needs of our fellow entrepreneurs. In addition, entrepreneurs do not have much confidence in non-practitioner consultants, so this module created especially for practitioners will give them not only the opportunity to complete their practical experience with the theoretical one, but also the opportunity to teach and in this way he can really help other colleagues. For more details go to https://businessmentors.ro/, we have a few more places available ”.
What does the “Business and Expenses Budget” module of the Business Mentors program offer?
• Uniqueness: BVC brings a paradigm shift from accounting and tax instruments to management tools. From the language and the accounting approach, to the language and the entrepreneurial approach – an essential aspect that offers the transition from the image of the fiscal situation of the past to the financial planning in the future.
• Tips & Tricks on key topics that explain: financial vocabulary for entrepreneurs, how a company can permanently create a positive cash flow, Margin (margin) vs Markup (commercial addition), how to build a financial Dashboard to extract the most important business figures from an entrepreneurial point of view, how much do sales increase in order to be able to offer a discount or which aspect is more important: the increase in price or the increase in sales volume?
• Practical component – explained principles and exercises: in addition to the theoretical part, the program also contains a series of exercises and scenarios for acquiring information.
• Certification: all those who follow this online program, not only can immediately and successfully implement the information in their own businesses, but also receive certification to become mentors for other entrepreneurs.
Those who are interested in enrolling in the new module “Revenue and Expenditure Budget”, from February 17, can access https://businessmentors.ro/ for more details.