The five-year survival rate for newly established Hungarian businesses stood at just over 37% in 2016, a summary of data by the Central Statistical Office (KSH) shows.
The five-year survival rate fell from 48-49% before the global financial crisis, but has been steady at around 37% since 2012, KSH said.
In 2016, the survival rate was 44% for companies and 29% for sole proprietors. Among companies, the rate for limited liability companies (Kft.) and companies limited by shares (Zrt. or Nyrt.) was 44%, while the rate for cooperatives was 48%.
Among business sectors, the highest survival rate was in healthcare and social services, at 59%. The rate was also well over the average, at 45%, in the industrial, ICT and engineering sectors.
The rate for financial services and insurance companies was just 11%. KSH noted that the one-year survival rate for such companies is 52%, well under the 73% rate for all Hungarian businesses.