Number of private entrepreneurs up 2.9% in Hungary in 2017

Tourism

pixabay

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.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.