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New companies in Hungary on the rise, but not yet a trend

Analysis

In the first quarter of this year, the numbe of newly established companies in Hungary was 7100, the highest number since 2014, Opten reports, cited by business daily Világgazdaság.

The number is 10% higher, year on year, and 5% higher than the previous quarter, Opten says. The figures are more interesting if you take into consideration a more regulated legal environment, Richárd Pertics, director of Opten told Világgazdaság.

Pertics warned, however, that even based on the figures of two or three quarters, no long-term conclusions should be drawn, although the trends are positive. It can be stated that the construction sector reacts fastest to the changes in the economy; this sector has shown growing figures for a year now, but similar trends are seen in energy, hospitality and logistics, Pertics added.

Besides the growth of new companies, the number of terminated companies is also higher. In the first quarter, 8,879 firms were terminated, which is 13% less y.o.y., but 7% higher than the figure from the previous quarter. This means that a balance has not yet been reached between the new and terminated companies in Hungary.

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