The Ministry of Economy and Commerce, in its Business Progress report of the commerce sector for October 2017, disclosed that limited liability companies in the category of single-person companies accounted for 27% of the new registration and 10% was registered in the category of individual corporations.
The contracting companies topped the list of most common activities in October, with 254 commercial records issued in this field, the report said, adding as many as 163 commercial records were issued for grocery stores and supply shops and 155 records were issued for restaurants, cafeterias and ice cream shops. The field of public trading followed with 136 records while transaction clearance and services accounted for 127 records.
The report also disclosed that a total of 7,747 commercial licences were issued, amended or renewed in October. These included 1,481 new commercial licences issued; 1,046 modified and 5,220 commercial licences renewed. A total of 301 companies closed in October, representing 14.5% of newly registered companies, said the ministry.
Regarding write-off activities, contracting companies topped the list at 35%, followed by public trading companies at 24%, construction materials at 22% and electrical appliances and electronics at 19% each.
In the area of intellectual property rights, the report indicated that 41 new patent applications were issued in October while 187 patent applications were renewed. In addition, 4,019 trademarks have been registered in October, while eight certificates were issued in the field of copyright and related rights.
