Thursday, the 6th of January, 2005
Mass liquidation to take place
During the companies re-registration process, which ended in 2004, 35,110 enterprises were included in the Register of Enterprises. Another 25,066 were not re-registered and should be liquidated, while applications from 3,002 firms are left for examination. Approximately 640 companies are preparing to liquidation, and 1,680 ones are in the process of admitting their insolvency.
Wednesday, the 5th of January, 2005
A step to freedom
In 2004 Latvia took only 28th place in the world according to its index of economic freedom, partially due to the developed shady market. It is by one place higher than the previous year. Lithuania had 23rd place, and Estonia is on 4th. In total 161 countries are in the list made by the institute Heritage Foundation and The Wall Street Journal. The first three places belong to Hong Kong, Singapore and Luxembourg.
Number of new commercial companies increases by one third
In 2004 the number of new companies and individual businessmen in Latvia increased by 32.9% and reached 10,225. According to Lursoft data, among them are 7,345 companies with limited liability and 1,939 individual businessmen. The most popular spheres of work are retail and wholesale trade and repair of cars, motorcycles and electric equipment.
Tuesday, the 4th of January 2005
Experts forecast crisis for Latvian transportation branch in the beginning of 2005, as in 2004 carriers of cargo did not make any accumulations. Last year their expenses grew, but the earnings did not. In 2005 fuel price should increase, and processing the necessary documents could become more expensive, too. The crisis could be felt even in the end of 2004 when some of transportation companies sold part of their cars. In case if transportation costs do not grow, enterprises could begin going bankrupt. Specialists think that companies of this branch should think of cooperation, optimization of expenses and rationalization of business.
Baltic Business Monitor