Latvia, Legislation, Markets and Companies

Of all enterprises in Latvia, more than half or 43,000 are micro-enterprises or companies with turnover of under LVL 70,000, writes LETA.

Small and medium-sized enterprises, or companies that turned over LVL 70,001 to LVL 1.4 million in 2011, make up 24 percent to 25 percent of all enterprises in Latvia.

Among the provinces, the largest proportion of micro-enterprises and small and medium-sized companies is in Riga, whereas the smallest is in Latgale province.

At the moment, there are 23,302 micro-enterprises and 10,401 small and medium-sized enterprises in Riga, whereas in Latgale there are 2805 micro-enterprises and 1361 small and medium-sized enterprises.

Vidzeme has 7011 micro-enterprises, Kurzeme – 5550, and Zemgale – 4858. Also, there are 3026 small and medium-sized enterprise sin Vidzeme, 2572 in Kurzeme and 2212 in Zemgale.