Number of Companies by Country: A B2B Growth Guide

Name: Estimated active legal entities by country
Creator: Drimble

Which countries offer the best opportunities for international B2B growth? Drimble analysed estimated active legal entities, recent company growth and leading industries across 197 countries and economies.

154.1M: estimated active legal entities
197: markets compared
161: growing markets
5.4%: average high-confidence growth proxy

Large B2B markets with positive momentum

These ten markets combine a relatively large estimated company population with continued growth. Definitions differ, so treat the numbers as directional market estimates, not audited like-for-like totals.

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Country	Estimated entities	Growth proxy	Leading industries
China	61M	5.1%	Wholesale & retail; Manufacturing; Professional & business services
United States	11M	2%	Real estate & rental; Professional & business services; Construction
Brazil	7.3M	14.4%	Wholesale & retail; Professional & business services; Construction
United Kingdom	5.5M	4.4%	Professional & technical services; Wholesale & retail; Construction
Australia	3.4M	4.5%	Wholesale & retail; Construction; Energy, mining & support services
France	3.2M	3.9%	Professional & technical services; Wholesale & retail; Construction
South Africa	2.9M	3%	Wholesale & retail; Professional & business services; Construction
India	1.8M	7.6%	Wholesale & retail; Professional & business services; Manufacturing
Indonesia	1.6M	10.8%	Manufacturing; Wholesale & retail; Professional & technical services
Mexico	1.4M	6.9%	Manufacturing; Wholesale & retail; Professional & technical services

Why company growth matters for B2B businesses

Most international expansion decisions begin with population, GDP or economic growth. These indicators matter, but they do not directly reveal how many potential business customers exist. For a B2B company, the number of active businesses may be more relevant.

A growing company population can create demand for software, cybersecurity, financial and professional services, business information, recruitment, logistics, marketing technology, construction services, industrial equipment, data and AI solutions.

A country can have a large population without a large formal business sector. A relatively small country can contain a concentrated and commercially attractive B2B market. Compare three things together: the number of potential companies, business-population momentum and the relevance of the largest industries to your product.

Large mature markets versus fast-growing markets

The United States, United Kingdom, Australia, France, Spain, Canada, Italy and Japan offer large, established company populations. Their advantages include a substantial immediately addressable market, developed B2B purchasing processes, established software and professional-service categories and more potential distribution partners.

Mature markets are normally more competitive. Customer-acquisition costs can be higher and established competitors may already hold strong positions. They remain attractive when a product has a clear advantage, high contract value or tightly defined ideal customer profile.

Brazil, India, Indonesia, Mexico and Türkiye combine meaningful scale with stronger company-growth indicators. Saudi Arabia and Uzbekistan also show considerable momentum at a smaller absolute scale. These markets can offer rising customer counts, greenfield technology adoption and less saturated categories, but regulation, language, payment structures and local distribution can add cost.

Start with industries, not countries

A country should not be selected only because its total number of companies is growing. The more important question is whether its companies belong to industries matching your ideal customer profile.

Construction-technology vendors could investigate Brazil, Saudi Arabia, Indonesia and South Africa. Industrial suppliers may find China, India, Indonesia, Türkiye and Mexico relevant. The United States, United Kingdom, Canada, Australia and France contain substantial professional-services sectors that may support higher-value data, cybersecurity, compliance, AI and business-intelligence products.

Wholesale and retail rank among the largest sectors in many markets, creating opportunities for payment providers, logistics companies, commerce software, customer-data platforms and marketing technology. These are starting points: verify the count, size and purchasing ability of organisations in your exact segment.

B2B market score

A practical B2B market-selection model

Score each market with a weighted framework, then adapt the weights to your product and route to market.

Concentration of ideal customers: 30%
Number of reachable companies: 20%
Company-count growth: 15%
Purchasing power and contract value: 15%
Language and localisation: 10%
Regulatory and sales friction: 10%

How to calculate the real addressable market

A country containing one million registered companies does not give your business one million prospects. Use this working formula: addressable accounts = active companies × relevant-industry share × target company-size share × reachable geographic share.

Refine the result with minimum revenue or employee count, required technology, ownership type, export activity, regulatory status, location, recent growth, website language, hiring activity and buying signals. Macro data identifies where to look; company-level data identifies whom to approach.

How important is English?

Companies able to sell, onboard and support customers entirely in English may find the United States, United Kingdom, Canada and Australia easier to enter. English is widely used in international business elsewhere, but an English-only strategy will not always deliver the best results.

Localisation may be required for landing pages, contracts, sales presentations, product interfaces, support, training, advertising, industry terminology and local search queries. That cost can make a large or fast-growing market unattractive. It can also become an advantage when competitors provide only English-language content.

Growth is not always better

Rapid company growth can reflect commercial momentum, but also rule changes, formalisation of informal businesses or improved registry administration. A stable market with two million potential customers may offer more immediate revenue than one growing by 15% with only 50,000 relevant companies.

Declining company numbers do not always mean declining demand. Consolidation can create fewer but larger customers. Evaluate growth alongside market size, average company value, customer concentration, competitive intensity, sector relevance and entry friction.

From market selection to target accounts

Country-level analysis shows where to focus. The next step is identifying companies that fit your ideal customer profile. Drimble Business helps teams research international companies, identify target accounts, detect company-level buying signals and build prospect lists from named official registers.

This moves the question from ‘Which countries should we enter?’ to ‘Which companies should we contact first?’ Explore B2B prospecting.

Number of companies by country: complete 197-market dataset

Search the complete workbook or filter by trend and confidence. Every row retains the source year, count method, confidence, caveat and primary source supplied in the research file.

Search country or regionTrendConfidence

197 markets shown

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Rank	Country	Estimated entities	Estimate range	Growth proxy	Trend	Leading industries	Confidence	Source
1	ChinaCHN · East Asia & Pacific	61,000,000	58M–64M	5.1%	Growing	Wholesale & retail; Manufacturing; Professional & business services	High	https://www.samr.gov.cn/xw/mtjj/art/2025/art_e0bd7c6db6644a7396fac79b9efa9ba2.html 2024 · National registry Open source Caveat China SAMR reported 61.226 million registered enterprises at end-2024; 5.1% annual growth.
2	United StatesUSA · North America	11,000,000	10M–13M	2%	Growing	Real estate & rental; Professional & business services; Construction	Medium	https://www.irs.gov/pub/irs-pdf/p5655.pdf 2023 · Tax-filer estimate Open source Caveat Estimate combines 6.8m active corporate returns (2022) and 4.5m partnership returns (2023); excludes most sole proprietors.
3	BrazilBRA · Latin America & Caribbean	7,300,000	6.7M–7.8M	14.4%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
4	United KingdomGBR · Europe & Central Asia	5,500,000	5.1M–6M	4.4%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
5	AustraliaAUS · East Asia & Pacific	3,400,000	3.2M–3.7M	4.5%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
6	SpainESP · Europe & Central Asia	3,400,000	3.2M–3.7M	2.1%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
7	FranceFRA · Europe & Central Asia	3,200,000	2.9M–3.4M	3.9%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
8	South AfricaZAF · Sub-Saharan Africa	2,900,000	2.9M–3M	3%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.thedtic.gov.za/wp-content/uploads/PQ-358-CIPC-registrations.pdf 2026 · National registry Open source Caveat CIPC reported 2,946,848 active companies and co-operatives in 2026; new registrations also increased in 2025.
9	CanadaCAN · North America	2,600,000	2.3M–2.8M	1.6%	Growing	Professional & technical services; Construction; Real estate & rental	Medium	https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/income-statistics-gst-hst-statistics/t2-corporate-statistics/corporate-statistical-tables-2018-2023-tax-years.html 2023 · Tax-filer estimate Open source Caveat Estimated active share of 2.748m corporation tax filers in 2023; the published total includes inactive corporations.
10	RussiaRUS · Europe & Central Asia	2,500,000	2.3M–2.7M	-4.4%	Declining	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
11	NigeriaNGA · Sub-Saharan Africa	2,100,000	1.7M–2.4M	6.3%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
12	ItalyITA · Europe & Central Asia	1,900,000	1.8M–2.1M	1.6%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
13	JapanJPN · East Asia & Pacific	1,900,000	1.7M–2.1M	1.3%	Growing	Wholesale & retail; Construction; Manufacturing	Medium	https://www.stat.go.jp/english/data/nenkan/73nenkan/1431-07.html 2024 · National census projection Open source Caveat Projected from 1.781m companies in Japan's 2021 Economic Census; excludes individual proprietorships.
14	IndiaIND · South Asia	1,800,000	1.7M–2M	7.6%	Growing	Wholesale & retail; Professional & business services; Manufacturing	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock, 2024.
15	PeruPER · Latin America & Caribbean	1,800,000	1.6M–1.9M	4.6%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
16	IndonesiaIDN · East Asia & Pacific	1,600,000	1.5M–1.8M	10.8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
17	MalaysiaMYS · East Asia & Pacific	1,600,000	1.5M–1.8M	3.6%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
18	TürkiyeTUR · Europe & Central Asia	1,500,000	1.4M–1.7M	8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
19	MexicoMEX · Latin America & Caribbean	1,400,000	1.3M–1.5M	6.9%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
20	RomaniaROU · Europe & Central Asia	1,400,000	1.3M–1.5M	4.8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
21	VietnamVNM · East Asia & Pacific	1,300,000	700K–2.3M	4.3%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
22	South KoreaKOR · East Asia & Pacific	1,100,000	970K–1.1M	6.9%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023.
23	ThailandTHA · East Asia & Pacific	930,000	780K–1.1M	4.7%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
24	BulgariaBGR · Europe & Central Asia	920,000	850K–1M	5.3%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
25	ChileCHL · Latin America & Caribbean	900,000	750K–1M	9.6%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
26	IranIRN · Middle East, North Africa, Afghanistan & Pakistan	850,000	720K–990K	4.4%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
27	MoroccoMAR · Middle East, North Africa, Afghanistan & Pakistan	840,000	770K–910K	8.3%	Growing	Wholesale & retail; Construction; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
28	PortugalPRT · Europe & Central Asia	830,000	760K–890K	4%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
29	TaiwanTWN · East Asia & Pacific	790,000	720K–850K	2%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
30	SwedenSWE · Europe & Central Asia	770,000	710K–840K	4.7%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
31	UkraineUKR · Europe & Central Asia	760,000	480K–1M	7.9%	Growing	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
32	New ZealandNZL · East Asia & Pacific	730,000	670K–790K	2.9%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
33	PanamaPAN · Latin America & Caribbean	730,000	620K–850K	1%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2021 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2021. Offshore-centre flag: registrations may include shell entities.
34	GermanyDEU · Europe & Central Asia	690,000	630K–740K	1.8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023.
35	NetherlandsNLD · Europe & Central Asia	640,000	540K–750K	3.6%	Growing	Wholesale & retail; Transport & logistics; Professional & business services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
36	PolandPOL · Europe & Central Asia	610,000	570K–660K	7.3%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
37	KazakhstanKAZ · Europe & Central Asia	570,000	520K–610K	3.3%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
38	ColombiaCOL · Latin America & Caribbean	560,000	510K–600K	4.2%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
39	CzechiaCZE · Europe & Central Asia	550,000	510K–590K	2.8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
40	BelgiumBEL · Europe & Central Asia	540,000	500K–580K	4.2%	Growing	Wholesale & retail; Transport & logistics; Professional & business services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023.
41	SwitzerlandCHE · Europe & Central Asia	520,000	440K–610K	3.4%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
42	PhilippinesPHL · East Asia & Pacific	480,000	440K–510K	3.3%	Growing	Wholesale & retail; Professional & business services; Construction	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023. Offshore-centre flag: registrations may include shell entities.
43	UzbekistanUZB · Europe & Central Asia	480,000	440K–520K	18.1%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
44	ArgentinaARG · Latin America & Caribbean	470,000	260K–850K	-0.2%	Stable	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
45	IsraelISR · Middle East, North Africa, Afghanistan & Pakistan	470,000	400K–550K	3.5%	Growing	Professional & technical services; Wholesale & retail; Construction	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
46	SingaporeSGP · East Asia & Pacific	440,000	410K–480K	4.9%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
47	HungaryHUN · Europe & Central Asia	420,000	380K–450K	1.3%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
48	NorwayNOR · Europe & Central Asia	410,000	370K–440K	4%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
49	FinlandFIN · Europe & Central Asia	400,000	370K–440K	1.9%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
50	VenezuelaVEN · Latin America & Caribbean	400,000	140K–1.1M	4.6%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
51	Saudi ArabiaSAU · Middle East, North Africa, Afghanistan & Pakistan	390,000	360K–420K	13%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
52	DenmarkDNK · Europe & Central Asia	370,000	340K–400K	2.5%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
53	SyriaSYR · Middle East, North Africa, Afghanistan & Pakistan	370,000	130K–1M	0.8%	Stable	Wholesale & retail; Construction; Transport & storage	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
54	United Arab EmiratesARE · Middle East, North Africa, Afghanistan & Pakistan	370,000	310K–430K	9.8%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
55	GeorgiaGEO · Europe & Central Asia	360,000	330K–390K	6.8%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
56	SlovakiaSVK · Europe & Central Asia	350,000	320K–380K	4.6%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
57	GhanaGHA · Sub-Saharan Africa	340,000	280K–390K	5.4%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
58	Costa RicaCRI · Latin America & Caribbean	330,000	300K–360K	-0.5%	Stable	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
59	YemenYEM · Middle East, North Africa, Afghanistan & Pakistan	330,000	110K–900K	0%	Stable	Wholesale & retail; Construction; Transport & storage	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
60	ZimbabweZWE · Sub-Saharan Africa	330,000	310K–360K	10.3%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
61	IrelandIRL · Europe & Central Asia	310,000	280K–330K	5.5%	Growing	Professional & business services; Finance & insurance; Real estate	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
62	SudanSDN · Sub-Saharan Africa	310,000	110K–860K	-11.6%	Declining	Wholesale & retail; Construction; Energy, mining & support services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
63	NepalNPL · South Asia	300,000	190K–420K	11%	Growing	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
64	TunisiaTUN · Middle East, North Africa, Afghanistan & Pakistan	280,000	260K–310K	5.2%	Growing	Wholesale & retail; Construction; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
65	UgandaUGA · Sub-Saharan Africa	270,000	170K–370K	9.6%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
66	ZambiaZMB · Sub-Saharan Africa	270,000	230K–310K	12.7%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
67	EstoniaEST · Europe & Central Asia	260,000	240K–290K	5%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
68	MongoliaMNG · East Asia & Pacific	240,000	220K–260K	8.9%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
69	PakistanPAK · Middle East, North Africa, Afghanistan & Pakistan	240,000	220K–260K	16.5%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
70	AlgeriaDZA · Middle East, North Africa, Afghanistan & Pakistan	230,000	210K–250K	5.2%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
71	BotswanaBWA · Sub-Saharan Africa	230,000	150K–320K	5.9%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2019 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2019.
72	KenyaKEN · Sub-Saharan Africa	230,000	130K–410K	6.2%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
73	UruguayURY · Latin America & Caribbean	230,000	210K–250K	2.5%	Growing	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
74	EthiopiaETH · Sub-Saharan Africa	220,000	210K–240K	17.9%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
75	BangladeshBGD · South Asia	210,000	200K–230K	5.1%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
76	RwandaRWA · Sub-Saharan Africa	210,000	180K–240K	18%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
77	CyprusCYP · Europe & Central Asia	200,000	180K–210K	-1.7%	Declining	Professional & business services; Finance & insurance; Real estate	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
78	QatarQAT · Middle East, North Africa, Afghanistan & Pakistan	190,000	110K–340K	2.5%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
79	Sri LankaLKA · South Asia	190,000	160K–220K	11.8%	Growing	Wholesale & retail; Professional & business services; Construction	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
80	GuatemalaGTM · Latin America & Caribbean	180,000	160K–190K	5.7%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
81	AzerbaijanAZE · Europe & Central Asia	170,000	160K–180K	10.5%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
82	CroatiaHRV · Europe & Central Asia	170,000	160K–180K	-1.7%	Declining	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
83	NamibiaNAM · Sub-Saharan Africa	160,000	91K–300K	-0.3%	Stable	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
84	GreeceGRC · Europe & Central Asia	150,000	140K–160K	9.6%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
85	SenegalSEN · Sub-Saharan Africa	150,000	140K–160K	10.7%	Growing	Wholesale & retail; Construction; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
86	EgyptEGY · Middle East, North Africa, Afghanistan & Pakistan	140,000	120K–160K	27.3%	Growing	Wholesale & retail; Construction; Transport & storage	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
87	TanzaniaTZA · Sub-Saharan Africa	140,000	85K–190K	6.4%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
88	AngolaAGO · Sub-Saharan Africa	130,000	71K–230K	12.1%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
89	AustriaAUT · Europe & Central Asia	130,000	120K–140K	2.7%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023.
90	LatviaLVA · Europe & Central Asia	130,000	120K–140K	-2.1%	Declining	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
91	LuxembourgLUX · Europe & Central Asia	130,000	120K–140K	0.1%	Stable	Professional & business services; Finance & insurance; Real estate	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
92	OmanOMN · Middle East, North Africa, Afghanistan & Pakistan	130,000	110K–150K	9.7%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
93	SerbiaSRB · Europe & Central Asia	130,000	120K–140K	-1.1%	Declining	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
94	EcuadorECU · Latin America & Caribbean	120,000	110K–130K	6.2%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
95	JamaicaJAM · Latin America & Caribbean	120,000	110K–130K	4.8%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
96	KyrgyzstanKGZ · Europe & Central Asia	120,000	98K–140K	19.3%	Growing	Wholesale & retail; Construction; Transport & storage	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
97	LibyaLBY · Middle East, North Africa, Afghanistan & Pakistan	120,000	40K–320K	8%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
98	CambodiaKHM · East Asia & Pacific	110,000	95K–130K	12.5%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
99	Côte d’IvoireCIV · Sub-Saharan Africa	110,000	62K–200K	14.6%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
100	Dominican RepublicDOM · Latin America & Caribbean	110,000	60K–200K	6.6%	Growing	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
101	KuwaitKWT · Middle East, North Africa, Afghanistan & Pakistan	110,000	61K–200K	-4%	Stable	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
102	MoldovaMDA · Europe & Central Asia	110,000	100K–120K	2.7%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
103	MyanmarMMR · East Asia & Pacific	110,000	67K–150K	26.8%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
104	Trinidad and TobagoTTO · Latin America & Caribbean	110,000	91K–130K	6.5%	Growing	Professional & technical services; Wholesale & retail; Construction	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
105	ArmeniaARM · Europe & Central Asia	100,000	92K–110K	11.3%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
106	LithuaniaLTU · Europe & Central Asia	100,000	94K–110K	-3.6%	Declining	Professional & technical services; Wholesale & retail; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
107	TurkmenistanTKM · Europe & Central Asia	100,000	37K–290K	6.2%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
108	Burkina FasoBFA · Sub-Saharan Africa	93,000	52K–170K	20.2%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
109	LebanonLBN · Middle East, North Africa, Afghanistan & Pakistan	85,000	30K–230K	-3.9%	Declining	Wholesale & retail; Construction; Transport & storage	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
110	MauritiusMUS · Sub-Saharan Africa	85,000	78K–91K	2%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
111	BoliviaBOL · Latin America & Caribbean	81,000	74K–87K	5%	Growing	Wholesale & retail; Construction; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
112	El SalvadorSLV · Latin America & Caribbean	81,000	74K–87K	4.3%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
113	BelarusBLR · Europe & Central Asia	80,000	50K–110K	2%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2019 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2019.
114	North MacedoniaMKD · Europe & Central Asia	80,000	74K–87K	2.5%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
115	NicaraguaNIC · Latin America & Caribbean	78,000	27K–210K	5.5%	Growing	Wholesale & retail; Construction; Transport & storage	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
116	Papua New GuineaPNG · East Asia & Pacific	76,000	64K–88K	3.2%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
117	SloveniaSVN · Europe & Central Asia	76,000	70K–82K	1%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
118	Cabo VerdeCPV · Sub-Saharan Africa	69,000	38K–120K	5.4%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
119	KosovoXKX · Europe & Central Asia	68,000	63K–73K	14.8%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
120	MontenegroMNE · Europe & Central Asia	66,000	60K–71K	9%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
121	ParaguayPRY · Latin America & Caribbean	66,000	37K–120K	69.6%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
122	BeninBEN · Sub-Saharan Africa	63,000	35K–110K	10.7%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
123	IraqIRQ · Middle East, North Africa, Afghanistan & Pakistan	60,000	38K–82K	4.1%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2016 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2016.
124	HondurasHND · Latin America & Caribbean	54,000	30K–97K	1.2%	Stable	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
125	AfghanistanAFG · Middle East, North Africa, Afghanistan & Pakistan	50,000	31K–68K	13%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
126	BurundiBDI · Sub-Saharan Africa	49,000	27K–88K	11%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
127	IcelandISL · Europe & Central Asia	49,000	45K–53K	3.6%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
128	GuineaGIN · Sub-Saharan Africa	46,000	26K–83K	18.9%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
129	BahrainBHR · Middle East, North Africa, Afghanistan & Pakistan	45,000	42K–49K	16.9%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
130	LesothoLSO · Sub-Saharan Africa	45,000	38K–53K	6.4%	Growing	Wholesale & retail; Construction; Transport & storage	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2020 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2020.
131	Democratic Republic of the CongoCOD · Sub-Saharan Africa	44,000	40K–47K	25.3%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities. Geographic coverage is partial.
132	MaltaMLT · Middle East, North Africa, Afghanistan & Pakistan	42,000	23K–76K	-9.7%	Stable	Professional & business services; Finance & insurance; Real estate	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
133	TogoTGO · Sub-Saharan Africa	42,000	39K–46K	23.1%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
134	EswatiniSWZ · Sub-Saharan Africa	40,000	22K–71K	6.1%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
135	Bosnia and HerzegovinaBIH · Europe & Central Asia	39,000	36K–42K	2.9%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
136	MozambiqueMOZ · Sub-Saharan Africa	38,000	21K–68K	3.6%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
137	FijiFJI · East Asia & Pacific	34,000	31K–37K	4.6%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
138	MadagascarMDG · Sub-Saharan Africa	33,000	21K–45K	12.8%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
139	Sierra LeoneSLE · Sub-Saharan Africa	33,000	18K–60K	12.7%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
140	LaosLAO · East Asia & Pacific	32,000	18K–57K	25.2%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
141	JordanJOR · Middle East, North Africa, Afghanistan & Pakistan	31,000	29K–33K	12.1%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
142	AlbaniaALB · Europe & Central Asia	30,000	27K–32K	4.3%	Growing	Wholesale & retail; Professional & business services; Construction	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
143	GambiaGMB · Sub-Saharan Africa	29,000	16K–53K	3.7%	Growing	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
144	MaliMLI · Sub-Saharan Africa	28,000	16K–50K	4.1%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
145	TajikistanTJK · Europe & Central Asia	25,000	16K–34K	9.7%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
146	GabonGAB · Sub-Saharan Africa	24,000	15K–33K	12%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018.
147	MauritaniaMRT · Sub-Saharan Africa	24,000	13K–43K	13.6%	Growing	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
148	ChadTCD · Sub-Saharan Africa	23,000	13K–41K	13.7%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
149	EritreaERI · Sub-Saharan Africa	23,000	8.2K–65K	0%	Stable	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
150	NigerNER · Sub-Saharan Africa	23,000	13K–42K	7.3%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
151	MalawiMWI · Sub-Saharan Africa	20,000	11K–37K	2.3%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
152	GuyanaGUY · Latin America & Caribbean	17,000	16K–19K	9.6%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
153	South SudanSSD · Sub-Saharan Africa	17,000	9.5K–31K	0%	Stable	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
154	BarbadosBRB · Latin America & Caribbean	15,000	8.3K–27K	7.8%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
155	BelizeBLZ · Latin America & Caribbean	15,000	14K–16K	28.5%	Growing	Wholesale & retail; Professional & business services; Construction	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
156	CubaCUB · Latin America & Caribbean	15,000	7.5K–30K	10%	Growing	Wholesale & retail; Tourism & hospitality; Food manufacturing	Low	https://www.worldbank.org/en/programs/entrepreneurship/methodology 2024 · Expert estimate Open source Caveat Estimate reflects the recent legalization and rapid growth of private MSME legal entities; no comparable registry stock series.
157	Brunei DarussalamBRN · East Asia & Pacific	14,000	13K–15K	1.4%	Growing	Wholesale & retail; Construction; Energy, mining & support services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
158	HaitiHTI · Latin America & Caribbean	13,000	7K–23K	-2.4%	Declining	Manufacturing; Wholesale & retail; Professional & technical services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
159	SurinameSUR · Latin America & Caribbean	13,000	11K–16K	6.3%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
160	Equatorial GuineaGNQ · Sub-Saharan Africa	12,000	4.2K–33K	-0.7%	Stable	Wholesale & retail; Construction; Energy, mining & support services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
161	MaldivesMDV · South Asia	11,000	10K–12K	-3.4%	Declining	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2023 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2023.
162	CameroonCMR · Sub-Saharan Africa	10,000	9.6K–11K	7%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
163	SeychellesSYC · Sub-Saharan Africa	7,700	7.1K–8.3K	2.5%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
164	Timor-LesteTLS · East Asia & Pacific	7,400	4.1K–13K	2.1%	Stable	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
165	DjiboutiDJI · Middle East, North Africa, Afghanistan & Pakistan	7,100	4K–13K	2.6%	Stable	Wholesale & retail; Transport & logistics; Professional & business services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
166	Saint Kitts and NevisKNA · Latin America & Caribbean	6,800	3.8K–12K	5.6%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
167	Republic of the CongoCOG · Sub-Saharan Africa	6,600	3.7K–12K	21.9%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
168	Guinea-BissauGNB · Sub-Saharan Africa	6,200	3.5K–11K	2.5%	Stable	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
169	LiechtensteinLIE · Europe & Central Asia	6,200	5.7K–6.7K	2%	Growing	Professional & business services; Finance & insurance; Real estate	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
170	BahamasBHS · Latin America & Caribbean	6,000	2.1K–16K	8.7%	Growing	Professional & business services; Finance & insurance; Real estate	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
171	PalestinePSE · Middle East, North Africa, Afghanistan & Pakistan	5,600	3.1K–10K	-17%	Declining	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
172	North KoreaPRK · East Asia & Pacific	5,000	1.5K–15K	0%	Stable	State manufacturing; Agriculture & food; Mining	Low	https://www.worldbank.org/en/programs/entrepreneurship/methodology 2024 · Expert estimate Open source Caveat No comparable public company-register series; rough estimate of formal enterprise legal entities.
173	LiberiaLBR · Sub-Saharan Africa	4,600	2.5K–8.2K	18.2%	Growing	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
174	GrenadaGRD · Latin America & Caribbean	4,400	2.8K–6K	2.2%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018. Offshore-centre flag: registrations may include shell entities.
175	Central African RepublicCAF · Sub-Saharan Africa	4,300	2.4K–7.7K	5.2%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
176	ComorosCOM · Sub-Saharan Africa	4,200	2.4K–7.6K	18%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
177	Saint Vincent and the GrenadinesVCT · Latin America & Caribbean	4,200	2.3K–7.6K	3.6%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
178	DominicaDMA · Latin America & Caribbean	3,800	3.5K–4.1K	1.8%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024. Offshore-centre flag: registrations may include shell entities.
179	Antigua and BarbudaATG · Latin America & Caribbean	3,500	1.9K–6.3K	-2%	Stable	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
180	Solomon IslandsSLB · East Asia & Pacific	3,300	1.8K–5.9K	0.8%	Stable	Wholesale & retail; Construction; Energy, mining & support services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
181	São Tomé and PríncipeSTP · Sub-Saharan Africa	3,200	1.8K–5.8K	1%	Stable	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
182	Saint LuciaLCA · Latin America & Caribbean	3,100	1.7K–5.6K	-7.3%	Stable	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
183	VanuatuVUT · East Asia & Pacific	1,700	1.1K–2.4K	8.2%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2018 · Registry/model blend Open source Caveat World Bank registered limited-liability company stock; latest source year 2018. Offshore-centre flag: registrations may include shell entities.
184	TongaTON · East Asia & Pacific	1,600	1.4K–1.7K	2.8%	Growing	Accommodation & food services; Wholesale & retail; Transport & tourism services	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
185	AndorraAND · Europe & Central Asia	1,500	510–4K	6.1%	Growing	Professional & technical services; Wholesale & retail; Construction	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
186	SamoaWSM · East Asia & Pacific	1,200	680–2.2K	-7.9%	Stable	Accommodation & food services; Wholesale & retail; Transport & tourism services	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
187	SomaliaSOM · Sub-Saharan Africa	900	830–980	3.6%	Growing	Wholesale & retail; Construction; Transport & storage	High	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2024 · Registry stock Open source Caveat World Bank registered limited-liability company stock; latest source year 2024.
188	BhutanBTN · South Asia	770	650–890	10.8%	Growing	Agriculture & agribusiness; Wholesale & retail; Transport & storage	Medium	https://www.worldbank.org/en/programs/entrepreneurship/total-number-of-firms 2022 · Registry stock projected Open source Caveat World Bank registered limited-liability company stock; latest source year 2022.
189	MicronesiaFSM · East Asia & Pacific	560	310–1K	0.9%	Stable	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
190	San MarinoSMR · Europe & Central Asia	550	190–1.5K	7.4%	Growing	Manufacturing; Wholesale & retail; Professional & technical services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
191	MonacoMCO · Europe & Central Asia	480	170–1.3K	11.9%	Growing	Professional & business services; Finance & insurance; Real estate	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
192	PalauPLW · East Asia & Pacific	360	130–990	0.2%	Stable	Accommodation & food services; Wholesale & retail; Transport & tourism services	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
193	NauruNRU · East Asia & Pacific	210	72–570	2.1%	Growing	Professional & technical services; Wholesale & retail; Construction	Very low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from working-age population and peer-country income/region patterns; no comparable company-formation series.
194	KiribatiKIR · East Asia & Pacific	140	76–250	5.3%	Growing	Wholesale & retail; Construction; Transport & storage	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
195	TuvaluTUV · East Asia & Pacific	88	49–160	4.3%	Growing	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
196	Marshall IslandsMHL · East Asia & Pacific	53	30–96	-0.2%	Stable	Wholesale & retail; Professional & business services; Construction	Low	https://www.worldbank.org/en/programs/entrepreneurship 2024 · Modeled estimate Open source Caveat Modeled from new-company density, working-age population, income, region and labor-market structure.
197	Holy See (Vatican City)VAT · Europe & Central Asia	20	5–80	0%	Stable	Religious & cultural services; Tourism & retail; Media & publishing	Low	https://www.worldbank.org/en/programs/entrepreneurship/methodology 2024 · Expert estimate Open source Caveat No conventional private-company register; nominal estimate for commercial legal entities operating in the microstate.

Sum of all unrounded point estimates: 154,117,331 active legal entities. Country figures are estimates and differ in definition and coverage.

Methodology and sources

This analysis targets active incorporated or legal entities rather than every freelancer or informal business. The reference period is mainly end-2024 and estimates are rounded.

The primary international source is the World Bank Entrepreneurship Database, including total registered firms, new businesses and its methodology. Sector composition and economic variables were supplemented with World Development Indicators.

National sources replace or extend the international base where more current or complete, including China’s State Administration for Market Regulation, the US Internal Revenue Service, the Canada Revenue Agency, the Statistics Bureau of Japan and South Africa’s dtic/CIPC.

Where current totals were unavailable, older observations were projected or estimates modelled with company formation, population, income, regional and labour-market variables. Use the results for strategic screening, not as legal, financial or investment advice.

World Bank Entrepreneurship Database World Development Indicators

Frequently asked questions

How many active companies are there worldwide?

Drimble estimates approximately 154 million active legal entities across 197 markets. The rounded estimate combines registry observations, national statistics, projections and modelled values.

What is the average growth in registered companies?

Across the 81 highest-confidence markets, the simple average annual growth proxy is approximately 5.4% and the median is approximately 4.6%. The median better represents a typical market when outliers are present.

Which country has the most companies?

China ranks first in this analysis with approximately 61 million registered enterprises. The United States follows with an estimated 11 million active corporations and partnerships. Definitions differ between countries.

Which markets combine company size and growth?

Brazil, China, the United Kingdom, India, Indonesia, Mexico and Türkiye combine meaningful company populations with positive growth indicators. Sector fit, language, purchasing power and entry cost still determine the best choice.

Is a fast-growing market always better for B2B expansion?

No. A smaller or more difficult fast-growing market may generate less revenue than a large mature market. Compare market size, ideal-customer density, contract value, competition and localisation needs.

How should B2B companies use company-count data?

Use company-count data as a market-screening tool. Shortlist countries first, then analyse exact industries, company sizes, buying signals, regulations and customer-acquisition costs.

Number of Companies by Country: What the Data Means for B2B Expansion