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Annual Change 4,2%

In 2017 the number of enterprises reached 96.936 compared to 93.066 in 2016 recording an increase of 4,2%. The number of establishments increased by 4,9%, from 100.118 in 2016 to 105.019 in 2017.

During the period from 2011 to 2014 the number of enterprises and establishments was decreasing.  The most significant decrease was observed during the years 2013-2014, when a decrease of 1,7% and 4,3% was recorded in the number of enterprises and establishments respectively. Since 2015 an annual increase in the number of enterprises and the number of establishments is being recorded (Table 1).

In 2017, 95% of enterprises were employing less than 10 persons (Table 2). The biggest productive sector in number of enterprises was “Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles” followed by “Professional, Scientific and Technical Activities”, while the smallest sector was “Mining and Quarrying” (Table 3).

Most of the establishments were in Lefkosia district, while the fewer number of establishments was in Famagusta district (Table 4).

Methodological information

Background Information

The Statistical Business Register is updated on an annual basis, according to the Regulation (EC) No 177/2008, using administrative sources and surveys conducted by the Statistical Service of Cyprus.   The administrative sources used are the Social Insurance register, the V.A.T. register and the Office of the Registrar register.

Coverage

The Statistical Business Register covers the following statistical units:

• Legal Unit

• Enterprise

• Local Unit (Establishment)

• Enterprise Group. 

The classification system used is the Statistical Classification of Economic Activities NACE Rev. 2 of the European Union. Data is disseminated for the statistical units “Enterprise” and “Local Unit/Establishment”.

Definitions

Enterprise is defined, in the Statistical Units Council Regulation No 696/93, as “the smallest combination of legal units that is an organizational unit producing goods or services which benefits from a certain degree of autonomy in decision-making, especially for the allocation of its current recourses.  An enterprise carries out one or more activities at one or more locations.  The enterprise corresponds either to a legal unit or to a combination of legal units, provided that the result is an organizational unit with a certain degree of autonomy”.

Local Unit/ Establishment is defined, in the Statistical Units Council Regulation No 696/93, as follows: “The Local Units is an enterprise or part thereof (e.g. a workshop, factory, warehouse, office, mine or depot) situated in a geographically identified place.  At or from this place economic activity is carried out for which – save for certain exceptions – one or more persons work (even – if only part - time) for one and the same enterprise”.

For more information:

Statistical Service (CYSTAT) Website, subtheme Business Register

Contact

Thomas Gregoriou: Tel:+35722602126, Email: tgregoriou@cystat.mof.gov.cy

(AH)