The number of companies in Cyprus at the end of 2019 increased by 5.8% compared to 2018 – this is reported by the Statistical Service of the country, adding that the growth in this area was recorded for the fourth consecutive year.

While there were 101,147 companies registered in Cyprus in 2018, the number rose to 107,062 in 2019. 94.9 percent of the firms had fewer than 10 employees.

Most businesses were concentrated in the wholesale and retail trade, auto and motorcycle repair industries. Next were “Professional, Scientific, and Technical Activities” and “Construction.” The smallest number of companies was in the sector of “Mines and Quarry”.

We can assume that the statistics for 2020, taking into account the impact of the COVID-19 pandemic, unfortunately, will not be so positive.