New business registrations dip 7.6pc on tough economy

Registration of business names largely represents sole proprietorship ventures, owned and operated by one person.

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New business registrations recorded during the year to last December dipped 7.6 percent to 130,527 entities from 141,193 in 2023.

This reversed a growth trend witnessed during 2023 when the new registrations had jumped 2.9 percent from 137,188 a year earlier.

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Note: The results are not exact but very close to the actual.