FinStat: 2024 Sees Highest Number of Company Closures in Seven Years

Bratislava, January 15 (TASR) - The FinStat portal has described 2024 as one of the worst years in terms of business and self-employment closures, with the highest number of company dissolutions in the last seven years and more self-employment businesses ceasing operations than being established, according to the portal. A total of 5,930 companies closed down last year (2024), which is 20 percent more compared to the previous year. "The high number of company dissolutions may also be attributed to the fact that, for 2024, companies will have to pay so-called tax licenses or a minimum tax if their tax liability is lower than the established minimum tax threshold. The minimum tax ranges from 340€ to 3,840€, depending on taxable income," the portal stated. The highest absolute increase in closed companies was recorded in the construction sector, where the number of closed companies rose by 774 compared to 2023. A negative trend was also observed in self-employment businesses, with more than 54,000 being closed last year. In contrast, the number of newly established self-employment businesses declined, and in 2024, nearly 50,000 were established, the lowest number in the last four years. In absolute numbers, the construction sector ranked first, with 15,492 companies closing last year, which is 22 percent more compared to the previous year. lin/mcs