Number of new firms grows y-o-y in H1, ending negative trend

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The number of companies established in Hungary grew by 5.9% to 13,338 in the first half of the year as compared to the same period a year earlier, according to a survey published by Bisnode today. The growth puts an end to a trend of negative year-on-year growth in company creation that has been going on since 2011, Bisnode said.

Nonetheless, the number of companies closing operations is still greater than the number of new firms being created, according to Bisnode.

In the first half of the year, approximately 26,000 companies were terminated, which is a large number, but still better than the first half of the preceding year, when the number of companies closing was above 52,000, according to Bisnode.

At this point, Bisnode noted, more than 522,000 companies are active in the country, which is still more than the approximately 480,000 firms active before the financial crisis.

József Keleti, Country Manager of Bisnode, said he expects the tendency to stay in the positive territory this year, and probably in 2017 also. As a result, Keleti said, stable companies should outnumber unstable companies by the end of the year.

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