Turning Pages, Facing Challenges: Unveiling Business Inactivity and SMEs' Challenges in Romania's Book Publishing Market

Abstract

Book publishing companies navigate the interplay between localization and globalization seamlessly, yet the cadence at which global dynamics infiltrate local markets unfolds at different rhythms. Using publicly available data about the performance of Romanian book publishers, this paper explores the local market and its dynamics from 2018 to 2021. The results indicate "an inactivity trend" among enterprises: more than 40% of companies could not generate a net profit, and more than 50% had no employees. The prevalence of SMEs (small and medium-sized enterprises) over big companies is an intrinsic characteristic of the Romanian market. Although compared to bigger companies, SMEs manage to translate sales into profitability, over 70% of small and medium-sized companies have a turnover below 60,000 Euros. The paper concludes by highlighting growth opportunities, such as tapping into the Romanian diaspora and exploring the correlation between book sales, university locations, and the role of academic institutions in shaping reading habits.