Bucharest, April 6, 2020 - BCR launches within Școala de Business (Business School) program a new business educational module: Intelligent solutions for entrepreneurs in times of crisis

The new module offers entrepreneurs advice from specialists on how they can optimize their cash flow in times of crisis, but also how the Romanian state can help them in such situations, through direct incentives or tax benefit packages.

The new module also complements the information already existing on the platform:

• The Financial Management lesson, provided by Iancu Guda (economist) provides information to entrepreneurs useful advice, especially during this period, such as Preparing a restructuring plan, Cash flow planning, Investment planning, as well as Limitations of rationality and the emotions of entrepreneurs
• The course named How to be a better entrepreneur created by the education partner of Școala de business project - iziBac start-up, specialized in digital educational solutions and platforms, which participated in BCR-InnovX Accelerator dedicated to technology companies

„A smart business is one that adapts to all the changes that take place in the market, whether it is a favorable context or we are talking about a crisis like the one we are going through now. Together with a mixed team of specialists in SMEs, taxation and law, we bring to the table our expertise of financial education to give them a helping hand through the new module on Școala de Business platform. This business education module complements our initiatives to support entrepreneurs in this period with installment deferral solutions, extended credit facilities and simplified flows for state support schemes”, says ”, Ionut Stanimir-Marketing Manager of BCR and Founder of BCR-InnovX Business Accelerator.

What type of advice will entrepreneurs find in the new module?

●       Permanently communicate with your business partners. Their financial situation is the basis of your income. Through permanent contact you will be more prepared as a team for what comes next.

●       Protect your team and remain in contact with them. Find the best options for your employees and explain to them clearly why you are making certain decisions. Be open and show understanding. Even if you have to make difficult decisions about them, chances are they will stay with you if you explain the situation to them clearly.

●       Monitor your expenses. Pay attention to the profits brought by each product or service. Carefully monitor your expenses and assign each one to a revenue-generating product or service.

●       Be careful with your inventory! They can become perishable goods during this period. You can even offer to deliver certain foods to their door, as an extra activity of your business. Thus, you help others, but you also help yourself.

●       Make a plan of what your business might look like, what you might need and the solutions you envisage in each of the two cases: the most likely scenario and the most pessimistic scenario you can think of.

The financial module is also available in an abridged version in .pdf format on: www.bcr.ro/scoaladebusiness

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Banca Comercială Română (BCR), a member of Erste Group, is one of the most important financial groups in Romania, including universal bank operations (retail, corporate & investment banking, treasury and capital markets) as well as leasing, private pensions and housing bank companies.

BCR provides a wide range of financial products and services, through a network of 19 business centers and 17 mobile offices dedicated to companies, as well as through a network of 430 retail branches, located in most localities in the country having more than 10,000 integrated BCR is the no. 1 bank in Romania on the banking transactions market, BCR customers benefiting from the largest ATM and MFM network almost 2,000 pieces of equipment, 14,500 POSs and full banking services provided by means of Internet banking, Mobile banking, Phone-banking and E-commerce.

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BCR Corporate Communication

Cătălin Ioniță, e-mail: catalin.ionita@bcr.ro, phone no: 0740.247.336

This information is also available on our website at: www.bcr.ro

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