10.01.2022

Record number of new businesses founded in Tallinn last year

A record 14,614 new businesses were registered in Tallinn in 2021, up nearly 12 per cent on the year before.

"In the last dozen years, the total number of companies registered in Tallinn has almost doubled. The record year shows that business activity in Tallinn is high despite, or even because of, difficult times," said Joosep Vimm, Deputy Mayor of Tallinn. 

"Furthermore, I encourage future entrepreneurs interested in starting a business to check out the city's services for entrepreneurs. We offer advice and training for start-ups, as well as business grants, help with applications and so on," said Vimm, adding that no good idea goes unheard, as a good business environment is also the basis for good jobs.

At the end of last year, there were 119,089 registered companies in Tallinn, according to the national Business Register, which is 4 per cent more than at the end of 2020. In 2009, there were 62,816 companies registered in Tallinn or approximately half as much as at the end of last year.

The number of active companies, or those that have filed their annual report in 2020, increased by 5 per cent in Tallinn last year compared to the year before, to a total of 77,392. These included 7,017 exporting companies, so one in eleven active companies in Tallinn exports its goods or services.

3,452 companies were liquidated in Tallinn last year. The number of liquidations was at the same level as a year earlier, with 3,484 companies closing in 2020.

Visit the Tallinn Business Website at https://www.tallinn.ee/eng/business/.