BRD SG Study: Costs, Motivation, and Main Barrier for Romanian Entrepreneurs

* 51% of Romanian entrepreneurs see sustainability as a way to reduce costs, but the same percentage considers implementation too expensive.   BRD Groupe Société Générale, founding partner of the Climate Change Summit, launches the first study that analyzes the perceptions of Romanian entrepreneurs on the opportunities and challenges of the transition to sustainable business models. The study is launched in the context of the Climate Change Summit 2025 – the most important event in Central and Eastern Europe dedicated to climate action, organized in Bucharest between October 21 and 25. Through this initiative, BRD consolidates its role as a facilitator of the green transition and offers a concrete perspective on how Romanian entrepreneurs relate to sustainability – what motivates them, what blocks them, how they perceive the costs of sustainability, the benefits and access to financing. The research, conducted on micro-enterprises and SMEs, outlines an entrepreneurial culture in which sustainability is approached cautiously — for most entrepreneurs, sustainability remains an economic decision, evaluated primarily in terms of costs and immediate returns, rather than a long-term transformational strategy.   “The study results show that sustainability is often seen as a cost or obligation, not as an opportunity. We believe it is time to change this perspective: sustainability means resilience and efficiency, not just compliance. As a bank, we want to open a real conversation with companies and demonstrate, through concrete solutions, that investments in sustainability can generate savings, reduce risks, and create long-term competitive advantages,” said Anca Nutiu, Executive Director Retail, BRD Groupe Société Générale.     For 51% of entrepreneurs, the main reason to integrate sustainability principles into their business is “reducing operational costs” (e.g., energy efficiency, resource optimization). However, the same argument also becomes a barrier: 51% of entrepreneurs are unable to transition to a sustainable business model due to “high implementation costs.” Thus, sustainability is desirable for its positive economic impact but avoided for its upfront price.   Access to financing should help correct this imbalance but does not fully compensate: for 39% of entrepreneurs, “limited access to finance” is a barrier to developing a sustainable business. At the same time, obstacles such as “lack of internal resources to manage the transition process” (53%) or “lack of expertise or knowledge in sustainability” (39%) limit SMEs from identifying opportunities.   Entrepreneurs’ motivations for integrating sustainability into business are predominantly pragmatic, oriented toward optimization, resilience, or market change management, rather than reputation or brand positioning. Operational efficiency is the main motivator, followed by “preparing for compliance with current and future regulations” (28%). “Personal values” motivate 25% of entrepreneurs, while “retaining existing clients” and “better access to finance” both motivate 24%. At the opposite end, only 15% mention “reputation”, and only 20% see sustainability as a form of “differentiation from competition.”   Entrepreneurs’ main perception of sustainability starts from the market, not the business: half (53%) believe “sustainable products don’t sell because they are too expensive for consumers.” This perception is reflected in their own decisions: if the market is unwilling to pay for sustainability, entrepreneurs do not view it as an investment but rather as an expense without return. Half of respondents believe “sustainability certifications are too costly and do not bring real business benefits”, and that “transforming a business into a sustainable one involves greater financial effort than the benefits generated.” In addition to this pragmatism, limiting beliefs persist: 50% believe “circular business models are only feasible in a few industries,” and 49% consider “sustainability financing tools are designed exclusively for large companies.” The study highlights a perceived inequity in access to finance, particularly among young and local businesses: 52% of companies under 10 years old share this perception (vs. 46% of mature companies), and the same percentage applies to predominantly local companies (52% vs. 44% of nationally active companies). Sustainability is thus perceived as a process reserved for those with resources.   The research also reveals uncertainty and polarization among entrepreneurs. Perceptions related to time and risk are almost evenly split: 37% believe sustainable processes “take too long to be worthwhile,” while 39% disagree. Similarly, 38% see sustainability investments as “too risky,” compared with 41% who consider them manageable.   Sustainability is a familiar concept in the entrepreneurial environment — 78% of respondents say they have heard of “sustainable business.” However, familiarity does not equal clarity. Only 24% of entrepreneurs know the difference between sustainability and ESG — a sign that while the concept is recognized at a declarative level, few understand its practical logic. Paradoxically, this gap increases with company age: mature companies appear less connected to global compliance language, with 46% of firms over 10 years equating sustainability with ESG, compared to only 28% of younger firms.   Company age strongly influences how entrepreneurs approach sustainability: for mature companies (>10 years), sustainability means compliance with regulations; for younger companies ( Entrepreneurs with younger businesses associate sustainability with the opportunity to gain a competitive advantage. Their motivations are primarily commercial: reducing operational costs (54%), differentiating from competition (24%), innovation opportunities (27%), or attracting investment (24%).   In contrast, companies older than 10 years focus more on preparing for compliance with current and future regulations (28%). They feel fewer access barriers: only 49% of mature businesses consider prices discourage consumers (vs. 58% of younger businesses), and only 46% believe sustainability financing is reserved for large companies (vs. 52% of younger businesses). For them, sustainability is less a source of differentiation and more a standard operating practice.   63% of entrepreneurs believe sustainability will become a mandatory factor for all businesses in Romania within the next ten years. However, almost 4 in 10 (38%) see it as a distant or unlikely prospect. This division shows a fragmented market in terms of urgency perception: for some, sustainability is an inevitable condition of the future; for others, it remains an ideal still too far from daily business reality. The study aligns with BRD’s strategic direction to support the business environment’s transition to a sustainable economic model and to better understand the real challenges entrepreneurs face in this process. The research results confirm the need for accessibility, clarity, and concrete support in adopting sustainable practices — a need that BRD addresses through dedicated initiatives for the business community. Through programs such as District BRD for SMEs and sustainability-linked credit, BRD provides entrepreneurs with real tools for progress: from mentorship and consultancy to financing solutions that reward sustainable performance.