Provident Financial Romania, through its “Invizibilii” initiative, is launching ASCENDENT, a new program dedicated to entrepreneurs who are turning their passion into high-potential businesses. Developed in collaboration with Highflyers-VSFA, a project of Romanian Business Leaders (RBL), the initiative targets small, traditional businesses.
ASCENDENT focuses on a critical yet often overlooked category in Romania’s entrepreneurial landscape: small business owners with no formal training in business, typically from towns with limited access to resources. The program will select 38 entrepreneurs running local businesses with an annual turnover below €50,000—or up to €100,000 for retail companies—and will support them through a 12-month intensive development journey.
The program includes four key stages, during which participants receive one-on-one mentoring, strategic consulting, access to digital courses, practical workshops, and support from the Highflyers-VSFA community.
“In an economy where initiative is admired but rarely supported, ASCENDENT responds to the real needs of small entrepreneurs—not with applause, but with guidance. Entrepreneurship shouldn’t be an act of heroism, but a natural path to independence. Through this program, we offer the same type of support we’ve always given our customers: simple, transparent, and tailored to their real needs,” said Florin Bâlcan, CEO of Provident Financial Romania.
“Romania remains a country of contrasts, where regional socio-economic disparities are deeply felt. A program like ASCENDENT directly supports our mission—to help build a country where future generations will want to live—by encouraging entrepreneurship exactly where it’s needed most. That’s the role of Highflyers-VSFA: to offer guided support that helps small businesses grow to the next level,” said Alexandru Dincovici, Executive Director of Romanian Business Leaders Foundation.
From selecting participants and crafting personalised growth plans to hosting monthly workshops and mentoring sessions, the ASCENDENT program is designed to rapidly accelerate entrepreneurial skills and uncover new paths for scaling local businesses. The first cohort begins on 14 August 2025, with additional groups launching in October 2025, January 2026, and March 2026. Applications for the first group are open until 25 July 2025.
Romanian Entrepreneurs Discouraged by Bureaucracy
According to a May 2025 survey by Provident, 1 in 2 Romanians believes that starting a small business is very difficult due to bureaucracy and high costs. Only 2% think the state supports early-stage entrepreneurs. While over 72% of Romanians admire small business owners, nearly half also feel sorry for them—highlighting widespread recognition of the difficulties they face. Two-thirds of entrepreneurs face recurring financial challenges.
Invizibilii.ro: A Platform for Visibility and Support
The “Invizibilii” initiative, launched in 2023, aims to highlight the reality of vulnerable groups—particularly small entrepreneurs—by giving them visibility and opening up new opportunities. This year, the Invizibilii.ro platform was redesigned to be more user-friendly, with clearer content and more actionable resources. It also allows the public, NGOs, authorities, and companies to get involved directly. To date, around 35,000 people have visited the site, showing strong public interest and engagement with the campaign.
The “Invizibilii” initiative is developed by the Provident Association for Education in partnership with The Social Incubator, Școala de Valori, Asociația Pot să Ajut, and Highflyers-VSFA from Romanian Business Leaders.
About Provident Financial Romania
Provident is part of the UK-based International Personal Finance (IPF) group, the largest home credit provider in Europe. IPF serves 2.1 million customers in nine European countries, as well as in Mexico and Australia. It is one of the largest British employers in Central and South-Eastern Europe and is publicly listed on the London Stock Exchange.
Since entering Romania in 2006, Provident has invested nearly €429 million into the local economy and paid over €196 million in taxes. With almost 2,000 employees, it is the second-largest British employer in Romania.
Provident is actively involved in corporate social responsibility projects focused on financial education, youth development, and support for disadvantaged groups, having invested more than €1.5 million to date. These community programs are carried out under the umbrella of the Provident Association for Education, with a strong commitment to social and financial inclusion.
About Romanian Business Leaders (RBL)
RBL is a non-partisan, independent organization of entrepreneurs and intrapreneurs that develops high-impact social projects and promotes a liberal democracy aligned with European values. RBL is the voice and action platform for leaders in Romania’s private and civic sectors, working toward a country where future generations will want to live.
Its projects—including Highflyers-VSFA—focus on three pillars: entrepreneurship, education, and good governance.
Watch the video here: Invizibilii – Micii antreprenori în risc de sărăcie și excluziune socială