THE ANALYSIS OF THE EVOLUTION OF THE LEASING MARKET IN ROMANIA -
In the current conditions existent in Romania, financing has become a necessity for the small and medium sized enterprises and for large companies. In the last years, our country has recorded significant growths for the weight, role and contribution of leasing for the business' development and expansion.
In this study we set to analyse the Romanian leasing market, the place of Romstal Leasing Company within this market, as well as the directions the company should head towards, given the present economic context. Romstal Leasing is one of the largest leasing companies in Romania, therefore, an in depth analysis of the products and the market of this company would be very relevant, giving us a whole perspective over the evolution of the Romanian leasing.
Keywords: Leasing Romania, leasing market, leasing companies
From an epistemological perspective, the paper is mostly circumscribed to the targeted fundamental research, the research methodology being mainly confined to the appropriate methods and techniques for collecting and processing empirical data and information, and to observing, ranking, correlating, organizing, comparing and analysing data, so that the approached theoretical relevancies may be substantiated. The information basis of the paper is represented by the results of the researches, of the conducted studies and other editorial sources exposed in periodical publications and in the monographs of foreign and local authors.
The first leasing company in Romania was founded in 1994 and was called Mister D Leasing Company. In our country, the first legal frameworks regarding leasing were phrased in 1995, and the first Leasing Law -
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The leasing market had a growing trend from one year to the next and leasing evolved to become an important player on the financial market. But the year 2008 marked a change for the leasing market. Raising the credits on the inter-
Until the middle of 2008, the leasing market in Romania faced a series of aspects or predictable trends. After this date, the leasing market felt the starting crisis. The economic crisis will cause small leasing companies to close their doors. In the current globalization context, the evolution of the conditions existent on the Romanian market will be definitely influenced by the evolution of the international parameters. A big growing potential is shown by the sanitation industry, collecting and recycling waste products, the infrastructure, constructions, the food industry and metal processing.
This general trend is also followed by Romstal Leasing Company. A slowing down of the car market in comparison to the previous years is noticed, and the hardware segment is receiving a more important in the company's portfolio. In any case, the growing rhythm of the company's market will be below the one recorded in 2007, and a drop in comparison to this year was also noticed in 2008. Currently, Romstal Leasing enjoys a good position within the leasing market, holding spot number nine.
The research conducted by experts, who work in marketing departments, proved that the most efficient course of action for 2009 is to "attack" the hardware segment. This is a very good decision, because the motorcar market is declining. The most financed hardware was the one used in constructions. In the future, we recommend approaching other segments, such as: medical equipment, equipment for the processing industry, for sanitation and for the processing of waste products.
Regarding the product seen as the most profitable on the leasing market during 2010. Claudiu Stanescu thinks that it is necessary for this product to be characterized by "a dynamic component, associated to a growing market. Let's hope that at the end of the year that just started, we will be able to rightfully assign this concept to at least one of the leasing products. Under current conditions, determined both by the existence of an oversupply for second-
In the context of the current crisis, we recommend high protection against the risks of financing. Many companies have problems and are unable to pay; furthermore, the leasing market faces many frauds. An additional attention should also be paid to the management of the present contracts that face different problems. These clients should be helped and supported in order to overcome this difficult time.
Another solution to hold out to the effects of the crisis would be to diversify the supply in the direction of the operational leasing, to have promotions on limited periods of time, but especially to provide quality services and to develop client loyalty.
Romstal Leasing Company must also be careful at the made investments. In a market where the level of the growth is low, the certainty of a profit or of maintaining a profit consists in cutting the costs. Romstal Leasing must cut down the exploitation costs and to turn its investments towards more profitable sectors.
Regarding the products portfolio, it must be managed very carefully. The attention must be turn towards the products that bring in money (vehicle leasing, commercial leasing, hardware leasing). The company can maintain the profitability rate in the context of the global crisis by diversifying the supply, but also by directing the businesses towards niche products, destined for the dynamic sectors of the economy. The niche segments can be equipments for the gas or oil industry. The real estate leasing should take a supporting role until the real estate market and the prices stabilize. At this time, approaching this segment would cause losses for the company.
From the given data, it can be noticed that Romstal Leasing Company wanted to draw in clients and to develop the business through client loyalty. The products and services of Romstal Leasing are complex and varied, because the company wants to reach a high degree of flexibility in order to provide the quality desired by its clients. Quality is an essential element for the products of the company. Through openness and client orientation, Romstal Leasing managed to develop long term relationships.
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***Guvern Ordonance no:51/1997 (modified), about leasing operation and leasing societies
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ANALIZA EWOLUCJI RYNKU LEASINGU W RUMUNII -
Warunki, jakie wystepuja obecnie w Rumunii przyczynily sie do koniecznosci finansowania malych i srednich przedsiebiorstw, a takze duzych firm. W ostatnich latach, w naszym kraju nastapil znaczacy wzrost wagi, roli oraz wkladu leasingu w rozwoj i ekspansje biznesu. W niniejszym badaniu analizie poddano rumunski rynek leasingowy, pozycje przedsiebiorstwa Romstal Leasing na tym rynku, a takze kierunki, jakie przedsiebiorstwo powinno obrac w kontekscie obecnej gospodarki. Romstal Leasing nalezy do najwiekszych przedsiebiorstw leasingowych w Rumunii, dlatego szczegolowa analiza produktow oraz rynku tego przedsiebiorstwa ma bardzo duze znaczenie i zapewnia calosciowa perspektywe ewolucji leasingu w Rumunii.