New businesses registered (number) - Country Ranking - Asia

Definition: New businesses registered are the number of new limited liability corporations registered in the calendar year.

Source: World Bank's Entrepreneurship Survey and database (http://www.doingbusiness.org/data/exploretopics/entrepreneurship).

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 China 232,064.00 2020
2 Russia 214,895.00 2020
3 India 142,000.00 2020
4 Vietnam 111,477.00 2020
5 Turkey 100,409.00 2020
6 Hong Kong SAR, China 99,405.00 2020
7 Korea 96,155.00 2016
8 Thailand 63,340.00 2020
9 Uzbekistan 61,677.00 2020
10 Indonesia 58,426.00 2016
11 Malaysia 47,834.00 2020
12 Singapore 42,217.00 2020
13 Kazakhstan 41,211.00 2020
14 Iran 36,158.00 2020
15 Japan 33,411.00 2020
16 Nepal 25,859.00 2020
17 Pakistan 19,791.00 2020
18 United Arab Emirates 19,050.00 2020
19 Georgia 17,905.00 2020
20 Israel 16,898.00 2020
21 Saudi Arabia 15,920.00 2020
22 Philippines 15,161.00 2020
23 Qatar 14,824.00 2018
24 Myanmar 14,051.00 2018
25 Mongolia 12,532.00 2020
26 Kuwait 10,603.00 2020
27 Sri Lanka 10,510.00 2018
28 Azerbaijan 9,165.00 2020
29 Cambodia 5,824.00 2020
30 Oman 5,804.00 2020
31 Armenia 5,700.00 2020
32 Kyrgyz Republic 4,936.00 2016
33 Bangladesh 4,473.00 2018
34 Afghanistan 4,274.00 2018
35 Bahrain 3,823.00 2018
36 Timor-Leste 2,889.00 2014
37 Jordan 2,778.00 2020
38 Iraq 2,020.00 2016
39 Tajikistan 831.00 2018
40 Lao PDR 699.00 2020
41 Brunei 316.00 2020
42 Bhutan 47.00 2018

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Development Relevance: Entrepreneurship is a critical part of economic development and growth and important for the continued dynamism of the modern economy. To measure entrepreneurial activity, annual data is collected directly from 139 company registrars on the number of newly registered firms over the past seven years. The data shows the trends in new firm creation across regions, the relationship between entrepreneurship and the business environment and financial development, and the financial crisis' effect on the entrepreneurial activity in the formal sector. Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure.

Limitations and Exceptions: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. The Entrepreneurship Database facilitates the analysis of the growth of the formal private sector and the identification of factors that encourage firms to begin operations in or transition to the formal sector. Data is collected all limited liability corporations regardless of size. Partnerships and sole proprietorships are not considered in the analysis due to the differences with respect to their definition and regulation worldwide. Data on the number of total or closed firms are not included due to heterogeneity in how these entities are defined and measured. The Entrepreneurship Database is a critical source of data that facilitates the measurement of entrepreneurial activity across countries and over time. The data also allows for a deeper understanding of the relationship between new firm registration, the regulatory environment, and economic growth. Previous research using the Entrepreneurship Database has shown a significant relationship between the level of cost, time, and procedures required to start a business and new firm registration. To facilitate cross-country comparability, the Entrepreneurship Database employs a consistent unit of measurement, source of information, and concept of entrepreneurship that is applicable and available among the diverse sample of participating economies.

Statistical Concept and Methodology: To facilitate cross-country comparability, the Entrepreneurship Database employs a consistent unit of measurement, source of information, and concept of entrepreneurship that is applicable and available among the diverse sample of participating economies. The data collection process involves telephone interviews and email correspondence with business registries in 139 economies. The main sources of information for this study are national business registries. In a limited number of cases where the business registry was unable to provide the data - most often due to an absence of digitized registration systems - the Entrepreneurship Database uses other alternatives sources, such as statistical agencies, tax and labor agencies, chambers of commerce, and private vendors or publicly available data. The units of measurement are private, formal sector companies with limited liability.

Periodicity: Annual

General Comments: For cross-country comparability, only limited liability corporations that operate in the formal sector are included.