In FY24, new private firm registrations in Bangladesh decreased by 6.76% year-over-year to 7,479, while overall firm registrations saw a 4.39% decline compared to the previous financial year. The Registrar of Joint Stock Companies and Firms (RJSC) reported this trend, noting a gradual decrease since FY 2019-20, influenced by global uncertainties and local economic challenges exacerbated by the pandemic. Leaders from business chambers attribute the decline to factors such as capital scarcity, global economic uncertainties, and local supply shortages of gas and power. They anticipate this trend to persist until economic conditions stabilize both domestically and globally. Despite the decline in new registrations, RJSC’s revenue increased to Tk 2.87 billion in FY24 from Tk 2.70 billion in FY23, mainly due to fee hikes implemented the previous year. The RJSC manages a total of 293,139 registered entities, encompassing various company types and business structures as of June 2024.
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