The number of businesses resuming operations continues to grow strongly. What factors are driving this trend, and is this recovery truly sustainable? Business confidence on the rise In the first eight months of 2024, as many as 168,100 businesses were newly registered or resumed operations—a 12.5% increase compared to the same period in 2023 and 1.24 times the number of businesses exiting the market (135,300, an 8.5% increase). While the first four months of the year saw more businesses exiting than starting or resuming, this trend reversed in May. Notably, the number of businesses resuming operations grew significantly, with over 57,300 businesses returning, a 25.3% increase compared to the same period in 2023. This growth rate surpasses that of new businesses (up 4.4%), those temporarily suspending operations (up 15.3%), and businesses completing dissolution procedures (up 18%). These figures indicate growing confidence in an improving economic outlook for the near future. Recent macroeconomic data reflects this trend. According to the General Statistics Office, the Index of Industrial Production (IIP) increased by 8.6% in the first eight months of 2024, compared to the 0.2% decrease during the same period in 2023. The manufacturing and processing sector, in particular, saw 9.7% growth (up […]
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