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Friday, 29.03.2024, 08:54
Startups in Latvia turn over EUR 13.6 bln in three years
Startups that use the opportunity of state support develop
faster and stay in business longer, added Berzins. An average startup creates
three jobs in a three-year period.
According to Altum's data, an average startup's turnover
increases 24% during the second year of
operation, and another 20% during the third year.
Berzins also said that startups supported by Altum paid EUR
7.5 mln in taxes and social contributions last year.
Most startups operate in trade, manufacturing, professional
services, agriculture and forestry, added Berzins. The fastest-developing
startups are Makveru, Valmieruizas Pils, and Edge Technologies, while AL Solutions, PalWood and Ekas Siltinasana achieved the fastest
growth in turnover during the past three years.