Latvia sees 6.8% rise in new business registrations over seven months

New business registrations in Latvia grew 6.8% in the first seven months of the year, according to data compiled by Lursoft. In July, 908 companies were registered, a 1.7% drop compared with July 2025. Their combined share capital reached €45.54 million, up sharply from €3.82 million in June, when 783 companies were registered.

Limited liability companies continue to dominate, accounting for more than 90% of new registrations. July also saw 76 individual merchants, four branches of foreign companies, three general partnerships and two farms registered.

Activity was concentrated in the central part of the country. The Riga region accounted for 567 new companies, including 415 in the capital. Kurzeme followed with 113, Vidzeme with 96, Zemgale with 76 and Latgale with 56. New businesses appeared in every municipality; after Riga, the busiest were Mārupe municipality (35), Jūrmala (31) and Tukums municipality (23). Jelgava, Sigulda, Cēsis, Ogre and Liepāja each recorded 20 registrations.

The largest share capital belonged to SIA West Kredit bizness at €39.954 million, created by spinning off part of AS West Kredit. The second largest was Valmiera-based metal structures manufacturer SIA M14C with €1 million, formed from part of SIA Aimasa. The top ten also included Sigulda-based SIA MiTek Industries, which received €400,000 from US firm MiTek Inc., part of Warren Buffett's Berkshire Hathaway.

Overall, 14.2% of new companies had foreign capital. Investors came most often from Ukraine (26 companies), India (15) and Lithuania (9).