Business start-ups surpass closures in 2010

The number of start-ups of new enterprises continued surpassing business closures last year, although the growth rate was much slower compared with previous years’ figures, the regional development and competitiveness ministry said on Thursday.

In a report, the ministry said new businesses recorded by

the country’s 59 chambers of commerce and industry totaled 62,781 in 2010, while closures totaled 56,037 over the year. The ministry said the manufacturing sector was the only one to record a decline in the balance between start-ups and closures last year.

July was the busiest month of 2010, with 7,018 new set ups, while December recorded 8,126 business closures.

The report did not offer details over the causes of business closures.

SOURCE: ANA