Business Startup

According to data released by Eurostat on Monday, registrations of new businesses in the EU increased by 45.3 per cent in Q3 2020 when compared with Q2.

However, the number of companies declaring bankruptcy was also significantly up, increasing 25.7 per cent in Q3 over Q2.

The increase in bankruptcies reflects an overall upward trend for the figure. In comparison with the highs of 2019, the Q3 2020 figure is less than a five per cent increase. 

New business registration has conversely been on a downward trend since 2015. 

The country hardest hit by business bankruptcies was Estonia, which experienced an increase of 83.5 per cent on the same quarter in 2019. 

Lithuania was the best off, with registered bankruptcies falling by 60.9 per cent in Q3 2020 when compared with the same period in 2019.

Figures for Malta are not currently publicly accessible, though Maltese data was used to form the overall EU aggregate.

Related

Moneybase and Mastercard launch summer cashback campaign and exclusive travel privileges

July 25, 2024
by BN Writer

Both existing and new Moneybase customers are eligible for this campaign

‘A unique opportunity to connect with highly-successful brands’ – Joseph Gerada, FBO Regulator

July 24, 2024
by Ramona Depares

This year’s EFB Summit offers local family businesses the opportunity to be part of Malta’s delegation in Rome, he explains

Vitals saga: Court declares senior politicians Chris Fearne, Edward Scicluna to face trial

July 24, 2024
by Anthea Cachia

Today’s court decree seals the fate for Chris Fearne and inevitably stops him from EU Commissioner race