SMEs continue to dominate business sector

Politics
en_amarsaikhan@montsame.mn
2017-01-23 14:00:35

Ulaanbaatar /MONTSAME/ By the end of 2016, there are 141.5 thousand entities registered to the business registry of Mongolia. Almost half of the registered or 69.4 thousand entities are not operational. In 2016, a total of 1,527 companies or entities fully stopped their operations, reports the Business Registry.

Most (84.3 percent) of the registered entities are small businesses with 1-9 staffers, while 12.5 percent is made up by companies with 10-49 employees and only 3.4 percent – by companies with more than 50 workers.

This indicates that small and medium enterprises continue to constitute the majority of businesses in Mongolia.

In terms of ownership, there are 63.8 thousand public and 3.777 thousand private companies.

Out of the registered entiies, 38.4 percent or 27.7 thousand entities run businesses in wholesale and retail, sales of automobiles and motorbikes, mechanics and repair, and distribution of gas and other kinds of fuel.

More than half of the registered entities operate in Ulaanbaatar.