Number of businesses goes down for second consecutive year as formalization of farmers enters final stage

The number of private non-agricultural businesses in Albania has been declining for two consecutive years.

Data from the Institute of Statistics show that 162 thousand businesses have operated in Albania over the past year, about 1600 more compared to 2016.

But, looking at the data by sectors, it is clear that growth has come from the process of formalizing farmers.

The number of farmers registered as businesses amounted to nearly 36 thousand last year, about 5 thousand more compared to 2016 and about 17 thousand more compared to 2015.

The formalization process of farmers is yielding some results, thanks to the establishment of registration as a condition for applying to subsidy schemes.

Obtaining the entity identification number can also be related to the need to sell and bill production at collections.

The fact that farmers have been excluded from the payment of profit tax and VAT has made it easier for the gradual process of their formalization.

On the other hand, most of the other economic sectors have suffered a decline in the number of businesses, ranging from industry, construction, trade and other service branches.

If we exclude farmers, the number of active businesses last year was about 126 thousand, three thousand fewer compared to 2016 and seven thousand less compared to 2015.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.