The number of new companies in Estonia declines by 17.5%

A total of 5,680 companies were registered in Estonia in the third quarter of 2022, which is 17.5 per cent less than in the same quarter in 2021, when 6,885 companies were registered, according to data available from Statistics Estonia.

Compared with the second quarter of 2022, the number of registered enterprises increased by 2.7%. In the second quarter of 2022, altogether 5,533 companies were registered in Estonia. 

In the third quarter, the largest number of enterprises, 940, was registered in the professional, scientific and technical activities sector. The information and communication sector was in second place with 852 new enterprises registered, while wholesale and retail businesses engaging in the repair and maintenance of motor vehicles and motorcycles were third with 735 entities registered.

In the third quarter, 14 companies went bankrupt in Estonia, compared with 17 in the same quarter of 2021 and 24 in the second quarter of 2022.  

The largest number of bankruptcies was registered in construction, four, followed by two businesses in manufacturing, building construction and wholesale trade each.

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