General overview of entrepreneurship

4236 entrepreneurs from Narva were registered in the Business Register as of January 20, 2020.

Only two enterprises registered in Narva are large (with the number of employees exceeding 250): OÜ Fortaco Estonia and AS Hanza Mechanics Narva.
Other large companies and employers are AS Enefit Energiatootmine, AS GE Power Estonia, AS Enefit Solutions, OÜ Amphenol ConneXus, OÜ Maxima Eesti ja OÜ Westaqua-Invest; however these companies are not registered in Narva, nor statistically accounted for in the city reports.
According to the classification adopted in Estonia and the EU, the structure of the currently functioning companies in Narva is as follows:

Type of company%
Micro-companies (up to 9 employees) 93.3
Small companies (11 to 49 employees) 5.3
Medium-size companies (50 to 249 employees) 1.3
Large companies (over 250 employees) 0.1
Total 100

The most common form of business organization is private limited companies, which are 2902 in number (68.5 % 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 20.01.2020 the number of such entrepreneurs is 920  (21.7% of all the companies registered in the Business Register).

The third most popular form of business - limited partnerships - are 198 (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.

On the whole, entrepreneurship is not one of those activities that are very popular with the residents of Narva. There are 75 registered companies per thousand inhabitants in Narva (as of 20.01.2020).


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.

The research carried out in 2009 on the entrepreneurship situation in Narva revealed that over 33% of the businesses are trading companies and only 11% of Narva companies are industrial enterprises.

In 2019 the average number of employed inhabitans of the city was about 23400 people.

According to the data from the Estonian Unemployment Insurance Fund there were 2727 officially registered unemployed people in Narva as of December 31, 2019.

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 2019 the average gross wages in Estonia were 1407 EUR, in Ida-Viru 1147 EUR and in Narva 892 EUR.

According to the data from the Statistics of Estonia in 2019 exports of goods and services from Narva totalled 138 930 872 EUR (1.0% of all Estonian export) and imports of goods and services to Narva totalled 105 979 157 EUR (0.7% of all Estonian import).

 

Last modified on Monday, 06 April 2020 16:43