The European Union registered an 11.8% rise in the number of new business registrations in the first quarter of 2021 compared to the same period the previous year, though the number of declared bankruptcies has also increased over the past few months
MOSCOW (Pakistan Point News / Sputnik - 25th May, 2021) The European Union registered an 11.8% rise in the number of new business registrations in the first quarter of 2021 compared to the same period the previous year, though the number of declared bankruptcies has also increased over the past few months.
"Year-on-year comparisons show that the number of registrations of new businesses increased by 11.8% in the first quarter of 2021 compared with a year earlier, while the number of registered bankruptcies increased by 7.3%," Eurostat said.
At the same time, new business registrations in Q1 increased by another 0.3% compared to the last quarter of 2020 amid the ongoing vaccination campaign and lifting of COVID-19 restrictions. Though, according to Eurostat, the number of declared bankruptcies over the period also jumped by 5.8%.
The trend points to a revival of EU business after a year of battling the pandemic.
