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Number of private entrepreneurs up 2.9% in Hungary in 2017

The total number of registered economic organizations in Hungary - including companies, partnerships, private entrepreneurs, and state and non-profit entities - rose by 1.3% from the end of 2016 to the end of 2017, says a summary of data published by the Central Statistical Office (KSH), cited by state news agency MTI.   

The number of companies and partnerships continued to fall in 2017, as in previous years. Their number declined by 2.0% during the year to 529,608. Of these, the number of companies fell from 527,791 to 516,989.

In contrast, the number of individual entrepreneurs grew by 2.9% to 1,189,000, with the pace of growth minimally up from 2016. Private entrepreneurs made up 38% of the total and licensed small-scale farmers 21.6%.

Of the registered entrepreneurs, 54% were full-time workers, 39% part-time workers, and 7% pensioners. The number of full and part-time workers rose during the year, while the number of pensioners registered as entrepreneurs declined, continuing the trend of previous years. 

A regional breakdown of data shows that more than 40% of companies and partnerships were registered in Budapest, while other regions were home to between 6.1% and 15.7% of all companies.

The distribution of entrepreneurs was more even, as 19% were registered in the Northern Great Plain region, while the share of other regions ranged between 9.3% and 16.3%. 

The KSH found that of the total 1,719,000 enterprises, 27% were active in agriculture, 13% in the real estate sector, 11% in trade, and 11% in legal, accounting, tax consulting and engineering services.

Together with 12,704 budgetary units and entities, 130,305 non-profit institutions, and 7,805 other organizations in addition to the 1,719,000 enterprises, the total number of economic organizations in Hungary stood at 1,870,000 at the end of last year.