Entrepreneurial confidence grows as private company registrations.
The number of new private company registrations in the country has shown a significant year-on-year increase since the economic crisis in 2022, official data showed.
According to the Registrar of Companies Department, 12,651 new businesses were registered between the 1st of January and the 30th June this year, marking a 20.2 percent rise from the 10,520 companies incorporated during the same period in 2023.
This upward trend signals the growing confidence among the entrepreneurs as the economy continues to recover, analysts said.
In June 2024, 1,899 new companies were registered, a slight decrease from May 2024, which saw 2,035 incorporations. The highest number of registrations recorded for the year so far is in March, where 2,440 companies were incorporated.
