OREANDA-NEWS. June 01, 2010. According to the Commercial Register, 3209 new public limited companies and private limited companies were founded in Estonia from January to April of the current year, which is 25% more than in the same period of 2009, reported the press-centre of SEB.

Allan Parik, Head of Corporate Banking in SEB, says that the lines of businesses of new companies that have opened an account in SEB are diverse, but more than previously companies have marked personal service and other business service as their lines of business. “These are followed by construction and repair, wholesale and retail trade, which have been dominant in prior periods. Commercial production has been stated as the line of business for about six percent of the new companies that have opened an account in SEB, which is similar to the 2007 statistics,” added Parik. Approximately 3000 public limited companies and private limited companies annually begin their activities as SEB customers.

Since increased activity in founding new businesses is expected in 2010, SEB is holding an Information Day for the starting businesses titled, “From Starting Entrepreneur to Growing Business”, in SEB’s main building on Thursday, May 27. The event gives suggestions about finding and developing a business idea, information about writing a business plan as well as involving partners, investors and funding.

Allan Parik added that SEB has been an active partner in developing business environment throughout the times, facilitating company foundation and supporting starting businesses. “The now-finished start-up competition for young entrepreneurs, Ajujaht (Brainhunt) 2010, is a good example of how important the support from experienced partners is already in the concept phase. The first presentation in today’s event is from the representative of ‘Click and Grow’, the winner of Ajujaht 2010” said Parik.

The “From Starting Entrepreneur to Growing Business” information day is part of the European SME Week, which will take place from 25 May to 1 June. In the following months more than 1400 events that are aimed at small and medium-sized businesses will take place in 37 countries of Europe. The idea of the pan-European campaign is to involve different market parties in the development of a favourable business environment, incl. public sector, commercial enterprises and universities. A special aim is to promote entrepreneurship so that more young people consider becoming an entrepreneur as a career option.

Small and medium-sized enterprise (SME) is defined in the EU as an enterprise with up to 250 employees, whose annual turnover is a max. of 50 million euros or a balance sheet total max. of 43 million euros. About 99% of Estonian enterprises fit in the SME category, giving up to 80% of employment in Estonia.