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NewsMontenegro, Since the beginning of 2022, 42% more companies have been established...

Montenegro, Since the beginning of 2022, 42% more companies have been established than in the entire last year

In Montenegro, from the beginning of the year until November 11, 7.36 thousand new companies were registered, which is 42% more than was established in the entire last year, according to the research of Business Intelligence Consulting.
The leading provider of business information in Montenegro announced that the growth has been especially pronounced since March.
– If this growth continues at the same pace until the end of the year, and it seems to us that it will, the number of newly founded companies this year will be over 60% higher than last year – the announcement states.
BI Consulting, which collects, processes and markets business and credit information about Montenegrin companies on its Binfo.me platform , stated that they did not have information about the origin of the founders, but that they managed to recognize with a certain amount of certainty that over 80% of new companies registered this year founded by persons from abroad.
– At the same time, in almost every new company founded by foreign persons, more precisely in 97% of them, the appointed executive director is also a foreigner – the statement added.
BI Consulting, in the absence of data on the origin of the capital, analyzed the names of executive directors and received a list of the top five most represented male and female names.
– And by their names, which most often appear in new companies, we can assume that these are countries from the territory of the former USSR, more precisely: Russia, Ukraine, maybe Belarus. This assumption also coincides with the first significant increase in the number of new business registrations, in March, that is, immediately after Russia’s aggression against Ukraine – the research showed.
The most common names of principals are Aleksandr, Sergei, Dmitrii, Aleksei and Ivan, and principals Anna, Olga, Elena, Irina and Maria.
– The most new companies this year were registered in Podgorica, Budva, Bar and Herceg Novi, the highest percentage growth of new companies is in Budva, Herceg Novi, Bar and Kotor, while the biggest decrease in the number of newly founded companies was registered in Kolašin, Rožaj, Berane and Blue – they said from BI Consulting.
In that company, they assessed that it is already clear at first glance that the increase in the number of new companies can potentially reduce the pronounced centralization of economic activity, but only in a way that it will potentially reduce the lag of the southern region compared to the central one, ie Podgorica. However, the backlog of the northern region is likely to grow further.
– We often mention the word potential because at the beginning of business we do not know much about the economic strength of new companies, so for now we can only talk about potential – they explained in the research.
However, certain conclusions can be made based on the amount of the founding capital.
– 95% of newly founded companies have a founding capital of one EUR, and almost 99% have a founding capital of less than one thousand EUR. 99 companies started with a founding capital of over one thousand EUR, and a review of their owners shows that most of them are investors from Montenegro or the region – BI Consulting said.
11 new companies have a founding capital of over one million EUR, and of the top five companies with the largest founding role, four are domestic, and only one is of foreign origin.
Also, out of the top ten companies with the largest founding role, five are of domestic origin, one from the region and four from outside the region.
– We notice that even six of the top ten most represented activities belong to the IT sector. In terms of numbers, that is a total of about 20% of new companies, that is, every fifth company. For the sake of comparison, the previous year only slightly less than ten percent of new companies operated in the IT sector, which means that this acceleration can potentially affect the change in the structure of the Montenegrin economy – the announcement states.
The company said that one should be very careful with conclusions, because the list shows that these are very “flexible” activities and jobs that are not firmly tied to the geographic area and destination in which they are registered.
– The owners of over 90% of new IT companies are foreigners, who often do not even have to be physically present due to the nature of their work, and who can change their destination again very quickly. In this context, their potential long-term impact and contribution to the local business community should be observed, and an adequate and appropriate business microenvironment should be strategically and carefully created for them – the research states.
In the long term, as it is concluded, if we are looking for some support and influence on local development, we can definitely count only on those companies that put down some roots there, local media writes.
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