Zilele Biz, an event by Biz magazine, kicked off this week with the entrepreneurship panel, opened by Ömer Tetik, CEO of Banca Transilvania. We’ve also recapped the key takeaways on the BT Blog:

Romanian entrepreneurs have shown great resilience

• The first weeks of the pandemic were about resetting, about panic, but entrepreneurs quickly gathered their strength and their thoughts, and many of them succeeded. On the other hand, uncertainty, volatility and supply-chain issues amounted to a constant stress test.
• Usually this kind of test lasts a few days, whereas the pandemic was a marathon where we had to run at sprint speed. Even so, I feel Romanian entrepreneurs in particular showed remarkable resilience, proving that they are here to stay. The biggest financing need is supporting businesses through programmes such as IMM Invest.
• We need stability, predictability and a bit of guidance from government.

We’re glad BT was the first choice in the IMM Invest programme

• We’re pleased that Banca Transilvania was entrepreneurs’ first choice. We managed to rise to the challenge, even though it wasn’t easy to assess and grant thousands of loans in just a few weeks; our dynamism and BT’s entrepreneurial spirit helped. Instead of hiding, instead of staying home, we mobilised. All my colleagues, from front office to back office and management, worked overnight and through weekends, week after week. That’s how we delivered. It was a test of solidarity.
• The pandemic period was extremely condensed for everyone, us included. We learned more about our customers. At times like this, from bankers you want accessibility, visibility in terms of leadership, courage and encouragement. It’s no longer about the product, nor about profitability, but about surviving and growing together.

Branches and agencies: our strong suit

• At the bank, we feel our response time is a bit slower, but the spirit is there, our culture is there. Our branches and agencies make the difference. We stayed open throughout, and our customers had access to cash and to our branches and agencies whenever they needed.
• Banca Transilvania, founded by a group of entrepreneurs as a start-up, has been through all the stages of entrepreneurship, so we’ve tried to reflect that in the way we think.

Trends & outlook for 2022

• It’s a ‘perfect storm’ and it will remain so. There’s market volatility, issues in the energy space and monetary policy shifts, but for Romania this is a huge opportunity. We’re starting to roll out this major project, the PNRR, and we hope to receive and make the best use of EU funds.
• There are many issues originating in Asia in the supply of goods, and Romania can position itself well; the food industry is becoming much more important, and with our well-developed agriculture we have a major opportunity. There will be jitters, but also opportunities and plenty of adrenaline.
• GDP growth is an important indicator, but it doesn’t show people’s wellbeing. GDP can grow, just as in America, with three or four firms reaching trillions of dollars, while education levels and the healthcare system remain low for much of the population. I believe Romania’s aim should be balanced growth, with care for every citizen.

BT’s message to entrepreneurs

Entrepreneurs have shown resilience and tenacity, and those need to stay. We also wish them courage — plenty of it. We need to look after our teams, our people, and to learn the lessons this crisis has taught us.