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How has the number of businesses changed in the last 5 years? The number of companies in financial services and insurance is increasing

2024-06-11 11:21:04Biznes SHKRUAR NGA REDAKSIA VOX

How has the number of businesses changed in the last 5 years? The number of

In the last 5 years, the number of active companies in the financial and insurance activities sector has increased significantly. Of the 1,297 enterprises that were counted in 2019, in 2023 there will be a total of 1,507, about 210 more than in 2019. Only during the past year, 282 new enterprises were created.

The smallest number of enterprises was recorded in 2021, with 1,054 respectively. In that year, it turns out that around 322 companies that offered financial services and operated in the insurance market were closed. This high figure was a direct consequence of the Covid-19 pandemic, which made it possible for many businesses to suspend their activity. According to a survey of the Investment Council on the impact of the pandemic on businesses, about 86% of companies stated that the pandemic affected them negatively and they did not even have an emergency plan approved in advance.

Data from INSTAT show that the total number of new enterprises registered in 2023 was lower than in 2022. The figures speak of 13,636 enterprises registered during 2023, from 15,700 registered during 2022. Meanwhile, in a five-year time frame, last year holds the record for the number of financial and insurance companies.

This shows a positive performance for companies in the financial and insurance sector compared to those that develop other activities, which shows that a suitable ground has been created for the development of these businesses. The income of these enterprises has increased significantly in the last year, while the individuals employed in these sectors are among the best paid.

In parallel with the financial activities sector, the construction, hotel and information technology sectors also recorded a high number of new enterprises in 2023.


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