New figures released on Friday show that Malta ranked the second highest country in the European Union for creating “newly-born enterprises.”
Malta saw a 16.4 per cent growth and was only beaten by Lithuania which had an 18.8 per cent increase.
In third place was Latvia at 16.2 per cent.
The figures – from 2016 - are part of an overall growth of 9.8 per cent across the EU, a slightly higher figure than in 2015 (9.6 per cent).
At the other end of the scale was countries like Belgium (6.2 per cent) and Greece (4.5 per cent) with the latter still struggling to pull itself out of the devastation of the 2008 global recession.
The EU says an enterprise birth occurs when – for example – a new company begins operating from scratch and ticks several boxes, including elements of production and job creation.
In 2016 the EU’s entire business economy was made up of almost 27 million active enterprises and employed around 150 million people. A total of four million jobs were created, stemming from 2.6 million newly-born enterprises in the EU.