30% of businesses created in 2010-2015 are no more operational (Report)  

Economic governance
Thursday, 30 May 2019 14:17
30% of businesses created in 2010-2015 are no more operational (Report)  

(Togo First) - In Togo, 30% of businesses created between 2010 and 2015 are no more operational. This was disclosed by the Business Formalities Centre (CFE) in a study on business survival in Togo, covering that specific period.

According to the study, out of over a total of 40,831 businesses created at the CFE from 2010 to 2015, 28,582 or 70% are still operational, against 12,249 or 30% which have ceased operations.

However, the document further notes, out of the still active businesses, 21,436 still function on a permanent, regular basis; 4,002 are seasonal and 3,144 rarely operate. Thus, while statistics show that businesses’ potential survival rate over the period under review is 70%, real survival rate is 52.5%.

Many factors explain the failure of businesses created and some are: age, educational level, social capital size, geographic location and business type (corporate or individual enterprise).

So far, a total of 77,302 businesses are registered at the Business Formalities Centre (CFE). This month alone, 691 firms were created at the institution. An impressive number. However, the real concern is to know how long they will survive.  

Séna Akoda

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