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Number of registered businesses up 1% in 2005

The number of registered businesses in Hungary was 1.299 million at the end of 2005, 12,000 more than in 2004, the Central Statistics Office (KSH) reported on Tuesday. The number of businesses increased by 10,000 during the year, while the number of not-for-profit organizations rose by 2,000. The number of central budget-funded organizations fell 100, but was still more than 15,000. The number of registered companies increased 16,500 to 497,942, while that of self-employed individuals fell 0.9% to 710,838 in 2005. The number of incorporated businesses increased 14,500 to 241,000, and the number of unincorporated businesses rose 2,200 to 257,000. In the fourth quarter of 2005, 25,000 new businesses were set up, 500 more than in the same period a year earlier. The number of companies listing real estate business and economic services as their main activity continued to grow, accounting for 37% of all businesses.