South Africa: New businesses registered (number)

Key figures

What the numbers say

In 2024, South Africa's new businesses registered (number) rose 19.8% on 2023 (from 412,780 to 494,475).

Across the 17 yearly changes before that (2007 to 2023), the average change was +3.6% and a typical year strayed about 16.2% from that (the standard deviation). This year's change was 1.0 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 41.5% in 2015 and the biggest yearly fall was 20.1% in 2010. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 11,864 a year. A straight line explains 58% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, South Africa had the 3rd highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to South Africa in the 2024 ranking

• Brazil — 1st of 127: 979,211
• United Kingdom — 2nd of 127: 841,138
• Australia — 4th of 127: 316,561
• China — 5th of 127: 286,640
• France — 6th of 127: 286,548

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 19 values

New businesses registered (number) in nearby economies

• Angola — 30,956 (2024)
• Benin — 5,522 (2024)
• Botswana — 21,456 (2024)
• Burkina Faso — 10,046 (2024)
• Burundi — 7,263 (2024)
• Cabo Verde — 7,719 (2024)
• Central African Republic — 258 (2024)
• Chad — 1,391 (2024)
• Comoros — 387 (2024)
• Congo, Dem. Rep. — 6,095 (2024)
• Congo, Rep.

More private sector & trade data for South Africa

• Merchandise trade (% of GDP) — 57.23% (2025)
• Insurance and financial services (% of commercial service imports) — 5.66% (2025)
• Merchandise imports (current US$) — US$128.08 billion (2025)
• Computer, communications and other services (% of commercial service imports) — 44.21% (2025)
• Commercial service imports (current US$) — US$21.49 billion (2025)
• Transport services (% of commercial service imports) — 36.96% (2025)
• Travel services (% of commercial service imports) — 13.18% (2025)
• Insurance and financial services (% of commercial service exports) — 9.81% (2025)
• Merchandise exports (current US$)

Reading data like this

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Questions people ask

What is South Africa's new businesses registered (number)?

494,475 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 81.61% from 272,275 in 2006 (3.37% a year on average, compounded). The highest value was 494,475 in 2024 and the lowest 178,811 in 2011.

How does South Africa rank?

3rd highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for South Africa?

In 2024, South Africa's new businesses registered (number) rose 19.8% on 2023 (from 412,780 to 494,475). Across the 17 yearly changes before that (2007 to 2023), the average change was +3.6% and a typical year strayed about 16.2% from that (the standard deviation). This year's change was 1.0 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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