General overview of entrepreneurship

4436 entrepreneurs from Narva were registered in the Business Register as of January 19, 2021.

99.9% of all operating enterprises are micro-, small and medium-sized.

Only one enterprise registered in Narva are large (with the number of employees exceeding 250): OÜ Fortaco Estonia.
Other large companies and employers areAS Enefit Power, AS Enefit Solutions, OÜ Amphenol ConneXus, OÜ Maxima Eesti ja OÜ Aquaphor International; however these companies are not registered in Narva, nor statistically accounted for in the city reports.

The most common form of business organization is private limited companies, which are 3118 in number (70.3% % of all the companies registered in the Business Register). Thus, private limited companies are the most popular form of business among the companies from Narva registered in the Business Register.

The second most popular form of business organization in Narva is entrepreneur-sole proprietor. As of 19.01.2021 the number of such entrepreneurs is 898 (20.2% of all the companies registered in the Business Register).
The third most popular form of business - limited partnerships - are 207 (4.7% of all the companies registtered in the Business Register).
Public limited company form of entrepreneurship requires possession of starting capital in the amount of 25 000 EUR at the time of registration, this form of business organization is typical for large enterprises. As of 19.01.2021 the number of such public limited company is 28 (0.6% of all the companies registered in the Business Register).

On the whole, entrepreneurship is not one of those activities that are very popular with the residents of Narva. There are 80 registered companies per thousand inhabitants in Narva (as of 21.01.2020).
The low level of participation by local residents in entrepreneurship is considered as a positive factor in attracting outside investments, because it reflects the low competitiveness on the market and some free niches for new businesses.

According to the data from the Estonian Unemployment Insurance Fund there were 3736 officially registered unemployed people in Narva as of December 31, 2020.

In Ida-Viru county, where Narva is situated, monthly gross wages are at the medium level among all the regions of Estonia. The highest wages are paid in Tallinn and Harju county. In 2020 the average gross wages in Estonia were 1448 EUR, in Ida-Viru 1161 EUR and in Narva 1018 EUR.

According to the data from the Statistics of Estonia in 2020 exports of goods and services from Narva totalled 128 390 780 EUR (0.9% of all Estonian export) and imports of goods and services to Narva totalled 103 895 546 EUR (0.7% of all Estonian import).

 

Last modified on Monday, 17 May 2021 15:18