Business, Latvia, Legislation, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 21:12
Number of companies registered and liquidated in H1 decreased in Latvia
The number of new companies registered in Latvia in the first half of this year dropped 19.8 percent on year - from 5,450 in the first six months of 2019 to 4,369 companies in January-June 2020.
Company liquidations reduced 2.0 times, from 17,955 a year ago to 6,109 in the first half of this year.
Analysis of company registrations by months reveals that in January, February and March the figure was consistent with the dynamic of previous years but a sudden slump followed in April, Lursoft said.
According to Lursoft data, 899 new companies were registered in April 2019 but in the same month this year the number of registrations fell to 436. Company registrations grew again in May and June, but their number was still smaller than a year ago. In May, company registrations fell 40.3 percent on year and in June registrations declined 12 percent on year.
Also, operations of 2,176 companies were terminated and 182 companies' insolvency proceedings were started in the first six months of 2020.
Of the companies liquidated in first half of 2020 more than a fourth were in the trade sector, while 10 percent were providers of professional, scientific and technical services, including legal and accounting services, advertising and market research services, etc.
"Meanwhile, the hospitality sector, which was one of the first to be affected by the Covid-19 crisis as the inflow of tourists came to a halt, is not among the industries with the highest company liquidation rates," Lursoft said.
- 28.01.2022 BONO aims at a billion!
- 25.01.2021 Как банкиры 90-х делили «золотую милю» в Юрмале
- 30.12.2020 Накануне 25-летия Балтийский курс/The Baltic Course уходит с рынка деловых СМИ
- 30.12.2020 On the verge of its 25th anniversary, The Baltic Course leaves business media market
- 30.12.2020 Business Education Plus предлагает анонсы бизнес-обучений в январе-феврале 2021 года
- 30.12.2020 Hotels showing strong interest in providing self-isolation service
- 30.12.2020 EU to buy additional 100 mln doses of coronavirus vaccine
- 30.12.2020 ЕС закупит 100 млн. дополнительных доз вакцины Biontech и Pfizer
- 29.12.2020 В Rietumu и в этот раз создали особые праздничные открытки и календари 2021
- 29.12.2020 Latvia to impose curfew, state of emergency to be extended until February 7