Podgorica, (MINA-BUSINESS) – According to Monstat, there were a total of 54,090 business organizations in Montenegro last year, 18.4 percent more than in 2022.

“The largest number of active business organizations, 18,590 of them, were registered in Podgorica,” the Statistical Office says in a press release, adding that the fewest companies are registered in Gusinje, which has only 40 active companies.

According to the ownership structure, over 99.5 percent of the total number of business organizations in Montenegro are privately owned, same as in 2022.

“Last year, the majority of active business entities were involved in wholesale and retail trade, and maintenance of motor vehicles and motorcycles,” the press release says, adding that 14,530 companies, or 26.9 percent of their total number, were active in these sectors.

Last year, 99.3 percent of the total number of active business organizations in Montenegro were small enterprises.