Number Of Hungarian Businesses Up In 2013

Budapest, June 15 (MTI) – The number of businesses operating in Hungary came close to 1,828,000 in 2013, up almost 22,000 from a year earlier, the Central Statistical Office (KSH) said in a freshly published summary.

Last year’s increase was entirely due to the growth in the number of independent entrepreneurs, KSH noted.

Small and microbusinesses account for 99.7 percent of the total. Just 16,000 companies have 20 or more employees.

The number of newly registered companies rose by 8.3 percent to 107,000 last year, primarily among self-employed individuals and limited partnerships, which is related to the new tobacco shops. The government introduced a monopoly on retail tobacco sales in the middle of 2013.

The number of company closures declined by 3.5 percent from a year earlier in 2013 after increasing in 2011 and 2012.

Among self-employed individuals, 21 percent fewer “closed shop” compared to the previous year, while 23 percent more partnerships closed than in 2012. Among partnerships, the number of liquidation procedures also increased, by 36 percent.

Source: http://mtva.hu/hu/hungary-matters