The Monthly Business Progress Report on the Commerce Sector released by the Ministry of Economy and Commerce showed that 1,942 new companies were registered in the country last month. They included 1,375 main commercial records and 567 new branch commercial records.
The limited liability companies accounted for 67% of the new commercial records and 27% of the companies were registered in the category of Single-Person Company and six percent of the companies were registered in the category of Individual Corporations.
Contracting companies topped the list of the most common activities in February, with 475 commercial records issued in this field and 207 commercial records were issued for restaurants and fast food outlets while 203 commercial records were issued in the field of construction materials trading. Clothing, textiles and public goods trading followed with 144 records while 141 records were issued for cleaning services.
The report pointed out that 6,803 commercial licences were issued, amended or renewed during the month of February 2017. 1,445 new commercial licences were issued while 795 were modified and 4,563 commercial licences were renewed.
A total number of 437 companies closed in February, representing 22.5% of the newly registered companies.
Regarding write-off activities, textiles, clothes and public goods trading companies topped the list at 24%, followed by contracting companies at 23%. Trading in electrical and electronic appliances and computers followed with the third place at 20%. Construction material trading accounted for 18% of write-offs while restaurants, fast food outlets and stores selling vegetables and fruits followed at 15%.
The report said the total number of transactions in February 2017 at the Ministry’s headquarters in Lusail City as well as other branches reached 29,919 and 3,280 transactions were processed at the Lusail City while 26,639 transactions were processed at other branches.
