Most companies in Romania do not have a risk strategy for situations such as the coronavirus epidemic. This is shown by the results of a barometer made by the consulting company Frames at the order FACTORY 4.0 conference. According to the research results, over 70% of the 300 companies surveyed expect negative economic consequences, from supply problems to price increases and financial blockages.

The epidemic of COVID-19 represents an unprecedented test for the Romanian economy, which is largely unprepared for such a situation. Beyond the fact that the epidemic has led to the closure of many Chinese factories, the spread of coronavirus in Europe, in countries such as Italy, one of our main trading partners, is likely to generate significant bottlenecks in the economic chain.

According to the barometer Factory 4.0 & Frames, 72% of investors said they did not have a risk plan for such a situation, while only 11% said they had developed a business continuity plan.

Regarding the impact on business, 57% said that the epidemic, at present, affects the running of the business, but the important processes are not impacted. 17% said that the economic effects of COVID-19 block important business and production processes, and 9% stated that the impact is a major one. 17% said that the epidemic, for the moment, does not affect their business.

Asked what are the risks identified in the current situation, many of the investors pointed to the supply problems, the potential price increases and the financial blockade.