Tiberiu Urdareanu, founder of UTI group, with 154m-euro turnoverand over 1,500 employees, states the future capitalists will be thecreative ones, set to generate turnovers of hundreds of millioneuros "with three laptops".
Urdareanu, 56, a former employee at the Defence Ministry before'89, states the principles of capitalism have been forgotten in thepast years, but that the current global crisis will bring back tothe spotlight the conditions for the development of a business:profit reinvestment and careful money spending.
"(...) Now, with three laptops and five brains one can set up acorporation because development will be based on creativity,"believes Urdareanu, who took to doing business in 1990, first byselling computers, in high demand at that time.
He considers that the exclusively consumption-based development ofthe economy has led to major slippages.
UTI is a major provider of IT solutions and security on thedomestic market, a Romanian-held company, the one that createdBucharest's traffic management system and introduced the automatedtaxation system in Bucharest's buses.
Urdareanu in 1990 set up Infcon lucrative association, with threeshareholders, who contributed three wages at the share capital.Infcon's first office was Urdareanu family's house and theysubsequently rented out a location, when the business expanded. "(...) Foreign firms started spotting domestic market opportunitiesand we couldn't fight the large players and hence we changeddirection by chance (...)" Alarm systems imported from Israelcoincided with the respective direction change.
Infcon subsequently also started installing security systems.
The association was then turned into a limited liability companyunder the UTI brand, and Urdareanu became the company's soleshareholder.
In 1998 Urdareanu shifted to engineering and project management.Now, despite the crisis, the business is less hurt as it is morediversified. Still, the group's turnover will drop by around 22%this year, to 125m euros, while the operating income will rise.
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