Registered businesses hit all-time high in Taiwan

2020/09/09

The number of registered businesses in Taiwan totaled 712,156 as of July 31, an increase of 0.9 percent from the end of 2019 and the highest on record, the Ministry of Economic Affairs said Sept. 7.
 
 Despite the COVID-19 pandemic and its impact on the global economy, business activity in Taiwan has continued to thrive thanks to effective government measures that successfully limited domestic spread of the disease, the MOEA said. Avoiding costly lockdowns also greatly benefited local enterprises, it added.
 
 Latest MOEA statistics reveal that while 17,939 companies ended their registrations or ceased operations in the first seven months of the year, 24,543 new firms were gained during the period.
 
 Among the additions, those offering professional, scientific and technical services accounted for 22.4 percent of the total, followed by manufacturing, 16.8 percent; construction and engineering, 13.7 percent; and banking and insurance, 11 percent.
 
 The paid-in capital of the country’s operating firms is also up, having risen 0.1 percent since year-end 2019 to reach NT$24.94 trillion (US$844.6 billion) at the cutoff date, with 51.5 percent of the total coming from businesses registered in Taipei City.
 
 According to the MOEA, the gender gap at the top of local firms continues to narrow. As of July 31, around 220,000, or 30.9 percent, of Taiwan businesses are run by women, up 2 percentage points from a decade ago.

Source: Taiwan Today (https://taiwantoday.tw/index.php)