Data on Closed, New Businesses Shows Less Pessimism from Entrepreneurs in 2nd Wave

By , 11 Nov 2020, 13:33 PM Business
Triglav is on some of the 50 cent coins Triglav is on some of the 50 cent coins Bank of Slovenia

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STA, 11 November 2020 - Entrepreneurs in Slovenia are not as pessimistic about their businesses in the second wave of coronavirus as they were in the first, the AJPES agency for legal records has said. In October, much fewer private entrepreneurs were deleted from the business registry than in March and much more new businesses were founded.

As the government first declared a Covid-19 epidemic in March, the number of small businesses deleted from the business registry rose significantly. As many as 2,088 decided to close their business the same month, which is double the figure that was recorded in February or January.

However, when the National Assembly passed the first package of measures aimed at helping businesses overcome the crisis at the start of April, businesses started extinguishing at a slower rate. But the closing down of small companies was still much higher than in the same period last year.

In April, 1,512 entrepreneurs gave up on their business and the number fell below 1,000 only in August.

At the end of May, the epidemic was declared over, and several more stimulus packages were passed, but as the number of new infections surged again in the autumn, an epidemic was declared again on 19 October.

According to AJPES data, the number of businesses deleted from the registry again exceeded 1,000 but entrepreneurs seem to be less pessimistic than during the first wave.

In October, a total of 1,274 small business were closed down, which is 39% fewer than in March. Meanwhile, more new businesses opened, as 2,009 people decided to start their business, which is 8% more than in September. In March, only 1,285 new businesses were founded.

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