Entrepreneurship Thrives in Czech Republic

Prague – The Czech Republic has witnessed a significant rise in self-employment, with 21,000 new entrepreneurs joining the ranks in the first half of this year, bringing the total to 1.148 million, according to the Czech Social Security Administration (ČSSZ). This increase follows a growth of 23,000 entrepreneurs throughout the previous year, indicating a robust trend in entrepreneurial activity across the nation. The data reveals that the majority of entrepreneurs are based in Prague, which alone accounts for 212,000 self-employed individuals. Notably, those who consider self-employment their primary occupation rose by 8,000 to 676,000, while the number of individuals engaging in self-employment as a secondary job increased by 13,000 to 471,000. This shift reflects a growing inclination towards entrepreneurial ventures in the post-COVID economic landscape. Business consultant Jiří Rusňák commented on the trend, stating that the increase in entrepreneurs signifies a shift towards innovation and economic resilience. He emphasized the importance of providing entrepreneurs with the necessary tools and knowledge to foster growth and innovation, particularly in areas such as digitization and strategic development. Experts highlight that the Czech Republic stands out within the European Union, where entrepreneurs play a pivotal role in the economy. Companies employing one to nine people constitute over 95 percent of all businesses in the country, making them the largest employers and providing jobs for more than a third of the workforce. This underscores the critical role of small businesses in driving economic growth in the region.