Analytics, Baltic, Business, Markets and Companies

One company per 50 working-age people is founded in Estonia a year while the Latvian ratio is one per 100 and Lithuanian one per 200. As an absolute figure, nearly two times more companies are created in Estonia a year than in Lithuania while there are 2.5 times more inhabitants in Lithuania.

The biggest part of growth of number of small and medium sized enterprises (SME) in Estonia comes from new services sector companies. SEB statistics shows that in the services sector, 35% more companies were created in the first six months of 2012 and in the information-communication sphere 15% more were created than at the same time last year, said SEB retail banking and technology sphere manager Eerika Vaikmäe Koit.

She said that services export also has the potential of being a new growth engine of economy and thus Estonia will get nearer to a more developed economic structure.