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Number of registered sole proprietorships on the rise

Tourism

The number of registered businesses in Hungary rose by 1% to 1,845,436 last year due to an increase in the number of sole proprietorships, a report published by the Central Statistics Office (KSH) reveals. 

The number of companies fell 2% to 588,263, while the number of sole proprietorships rose 2.5% to 1,115,463, thereby increasing the number of smallholders by nearly 7% to 285,617. KSH said the decline in the number of companies could be attributed to an increase in the minimum capital requirement for limited liability companies to HUF 3 mln from March of last year.

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