Bucharest, April 18th, 2018 – CITR Group launches today the Entrepreneurship Museum exhibition: 100 years of entrepreneurship in Romania. The exhibition, open for the public, will be hosted by Noblesse Palace (7 Sfinților Str.), between April 18th – 21st, and aims at highlighting the importance of Romanian entrepreneurship for the Romanian economy and to celebrate the domestic entrepreneurial spirit, while also honoring the Centennial.

• The exhibition showcases 30 entrepreneurial stories, from three historical periods of the past 100 years: 10 entrepreneurs from 1918 - 1945 (Founders section), 10 successful stories of the post-revolution Romania (Contemporary section) and another 10 entrepreneurs who rethought the rules of the game (New Generation section) 
• The names of the 30 entrepreneurs were selected by a Museum board, comprising representatives of CITR Group, and Dumitru Lăcătușu, Historical Consulting Center (curator of the Founders category), Sergiu Neguț, Maastricht School of Management Romania (curator of the Contemporary category) and Dora Surugiu-Kocsolade, The Entrepreneurship Academy (curator of the New Generation category). Some of the criteria to select the stories were leading by example, ethics in business, sustainability, involvement in the community and geographical representativeness 
• In addition to their stories, most of the entrepreneurs also lent to the Museum personal items bearing sentimental value for them or the business
• The museum is open for visitors between April 18th and 21st, from Monday to Friday, between 10:00 and 18:00, and Saturday, April 21st, between 11:00 and 20:00. The exhibition will also be hosted by other venues in Bucharest and other cities, in 2018
• The exhibition may be accessed on www.citr-group.ro/MuzeulAntreprenoriatului

CITR Group launched this project after conducting a series of studies among entrepreneurs in difficulty, which revealed the fears and challenges of entrepreneurs facing such hardship, as well as the fact that the Romanian economy rests on a frail foundation: only 4% of the local businesses have an impact on the economy (approx. 23,000 companies register assets worth over one million euros) and of them, already few, 50% are in difficulty

“The conclusion of CITR Group’s 20 years of experience in crisis management and working with entrepreneurs in distress is that entrepreneurship is, by excellence, about moments of difficulty, but particularly about the courage to admit it and to identify solutions, to see a way through obstacles. To make sure we have a healthy economy, we need local entrepreneurs as they generate an impact on the economy every day. The Entrepreneurship Museum: 100 years of entrepreneurship in Romania is dedicated to them, and we hope that the strength of these stories inspires both the entrepreneurs starting their journey, and those currently facing hardship", underlined Andrei Cionca, President CITR Group.

The names included in the Founders section (Ioan Mihail, Tiberiu Eremie, Dimitrie Leonida, Nicolae Malaxa, Dumitru Mociorniță, Petre Georgescu-Delfras, Max Auschnitt, Blaziu Guban, Nicolae Chrissoveloni, Francisc Neuman) were selected following a rigorous research of 17 archive funds.

 “One of the founding entrepreneurs started from scratch, grew up in poverty or foster families (Guban), while others, born in wealthy families, had the opportunity to study in well-known schools in England, Germany, Austria to only return to Romania and apply the business models acquired throughout their education, rather advanced for that period, which was a key factor for their success in business. Many of them were concerned about Romania’s progress and made a contribution to it – for example, Dimitrie Leonida, a public entrepreneur, Ioan Mihail, who promoted land ownership for farmers and donated his entire fortune to the state to be used for charity works. These figures also took interest in improving their collaborators and workers, by building private schools to train them, such as Dumitru Mociorniță. Today’s entrepreneurs could definitely learn from the experiences of inter-war businessmen and particularly from the manner in which some of them managed to overcome the hardship in their careers and even the nefarious consequences of the founders’ political involvement”, said Dumitru Lăcătușu, curator of the Founders section.

The Contemporary section included Dragoș Anastasiu, Florentin Banu, Doina Cepalis, Horia Ciorcilă, Dragoș and Adrian Pavăl, Felix Pătrășcanu, Ioan Popa, Iulian Stanciu, Dan Șucu and Florin and Măriuca Talpeș.

“Those who built their business after the revolution faced two major obstacles: the inflation in the ‘90s and the crisis of the year 2000. They surpassed these obstacles by applying innovative methods, counting on intuition more than on a formal business training. For example, Pavăl brothers invested and purchased lands in Moldavia area when no other similar company did so, Dragoș Anastasiu provided touristic buses at the request of customers, and Dan Șucu, during the crisis, created an exclusive financial product and tripled the renewal rate of collections", highlights Cosmin Alexandru, part of the team in charge of the Contemporary section of the exhibition.

The New Generation category includes Laurențiu Bănescu, Andrei Botescu and Alexandru Manda, Monica Cadogan, Ioan Iacob and Radu Constantinescu, Oana and Vlad Craioveanu, Răzvan Crișan, Mihaela Glăvan, Șerban Radu and Nicoleta Dumitru, Mihai Simiuc and Marius and Dan Ștefan.

“The businesses of the new generation of entrepreneurs are more than ever focused on people and the need for a life marked by quality rather than quantity. It is more about new ways/methods of living our lives and the quality of experiences than anything else. Mihai Simiuc brings back simple and clean food, ‘free of extravagance’ meant for short breaks, and the same concept is turned by Răzvan Crișan in a comprehensive experience that entails a complex design that stimulates all senses, for longer leisure times with the loved ones. Zăganu beer is no longer just a beer but a story: a story about past and tradition, about present – as we each decide to write it, as well as about future: how the journey of Romanian craft beer began", declared Dora Surugiu-Kocsolade, curator of the New generation section.

Entrepreneurship Museum: 100 years of entrepreneurship in Romania is part of the Second Chance initiative, through which CITR Group supports struggling businesses. This endeavor is based on the results of the annual study conducted by CITR group on impactful companies that reveal that the economy of Romania is laid on a narrow foundation: although we are registering the highest growth in the EU, at macro level, the revenues are concentrated in a small number of companies; 4% of the total domestic businesses account are the driver of this economy, while half of them are in a state of difficulty. The main reasons include entrepreneurial difficulties that were not prevented or treated and lead to fewer entrepreneurs: entrepreneurs are stigmatized after a failure, and 8 of 10 entrepreneurs are tempted to leave entrepreneurship after the first failure (as per numbers at European level).

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About CITR Group

CITR Group is the first group of companies in Romania specialized in customized remedies for companies in economic distress. CITR Group supports companies throughout their recovery process by providing reorganization, restructuring and investment solutions. The group has the resources to manage all business areas, both within and outside judicial procedures. The group’s mission is to anticipate the needs of entrepreneurs and constantly improve the services offered to companies, so that any economic hardship is transformed into a business opportunity. The CITR Group consists of CITR, CIT Restructuring and CIT Resources.

Press contact

Anca Topliceanu
anca.topliceanu@citr.ro   
0744.653.107