Recently, Romania has been ranked among the top countries to start an online business. Online businesses are on the rise in today’s market, and any country investing in this sector is making huge profits.
Romania has been ranked in the first half (39 out of 99 countries) in a top ranking the countries where starting and sustaining online businesses is successful . A study shows countries that support online business will be responsible for generating global sales totalling $6.542 trillion by 2023.
It goes without saying that setting online businesses comes with benefits also for the connected sectors. For example, Denmark, a country where online businesses are blooming, developed a strong infrastructure consisting in a sizeable number of servers that are capable to easily sustain a developing online business environment. According to existing info, Denmark has 277,000 internet servers per 1 million people and it is the second country in the world in terms of internet users.
Switzerland comes next due to its top score for GNI per capita. The Netherlands are not far behind due to its high internet speed supporting online business. The US has 87% of its population using the internet for multiple purposes.
Norway and Sweden have most of their populations using the internet to make online purchases of various goods and paying bills. Singapore enjoys 229.42 Mbps internet speed, the only country that exceeds the average 200 Mbps. Germany, Canada and Luxembourg are also among the top-tier countries to do good in online businesses.
Many of the 99 countries where starting of an online business can be made in a friendly environment are located in Europe. However, entrepreneurs in these countries have to pay high taxes to sustain their businesses, and that doesn’t apply only to the online ones. Internet coverage and speed are among the main factors contributing to the growth of online businesses in these countries.
Like in any other country with investments in online, starting an online business in Romania involves both good and bad experiences. Due to their online expertise, Romanian companies are today accessing markets that were difficult to reach in the past and are using online marketing to identify their target markets and implement strategies to reach them, in order to grow.
Same as in other countries, collecting customers data during the shopping process proved to be helpful for Romanian e-tail platforms and helps evaluating the volumes of merchandise demanded by the market. Price tracking software weren’t forgotten and are heavily used, Romanian online businesses trying to always offer better prices then their competitors, which creates a healthy competitional environment. Although the online took off due to Covid 19, there are still obstacles remaining in the customer – company relation, with customers still distrusting the online shops.
Despite the hic-ups of the economic system, mainly due to political instability, Romanian entrepreneurs managed to build businesses that are online and that became successful, which explains how the country reached on the 39th position in the mentioned study. Top etailers and digital platforms that have actively contributed to boosting Romanian online business sector are emag.ro, olx.ro, altex.ro or elefant.ro, just to mention the top etailers.