One way to determine entrepreneurial activity in a country is to track the number of registered new companies. The data from the beginning of 2020 to the month of September show an expected decline of the newly registered companies in Bulgaria. The highest decline was in April 2020, when 65% fewer new businesses or almost 3,000 fewer were opened, compared to the same period last year. From January to September 2020, 9,800 fewer new legal entities were registered. This equates to a 25% decline compared to 2019. The reasons are the restrictive measures during the spring and the ensuing uncertainty.
Interestingly, in June 2020 there was a certain increase in the newly registered companies. This is probably due to people starting their new business after being laid off, or starting it after the two-month lockdown. The negative trend is forecast to continue until the end of the year, due to the escalation of the pandemic in October and November.
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