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October
15
BUSINESS FINANCING OPPORTUNITIES IN KAUNAS REGION
On 14 October, the fastest-growing companies of Kaunas, Alytus and Marijampolė municipalities in 2018–2020 were presented with awards at the conference ‘GAZELĖ 2021’, organised by the newspaper Verslo žinios in Kaunas.
In 2021 1,077 companies, or 22% of all the fastest-growing companies in Lithuania, were included in the Gazelė list in Kaunas county. At the beginning of the year, these companies employed over 15,500 people – 3,000 more than in 2018. Their revenue in 2020 was EUR 1.2 billion. Gross revenues of the companies grew by 73% compared to 2018, and by 29% compared to 2019.
Arūnas Burinskas, Deputy Director of the Investment Management Service of the Lithuanian Business Support Agency, presented the country’s business support guidelines, the opportunities from the European Union Structural Funds, the prospects of the new financial period and shared his insights into the future.
‘It makes sense and relevance for businesses to take advantage of the non-refundable business grant provided by the Business Support Agency in these challenging times. It can definitely increase the economic financial performance of a business project and reduce the risk it takes. The LBSA is interested in more EU investments going to the regions, therefore Kaunas region entrepreneurs have a wide range of opportunities,’ said Burinskas.
According to him, today, projects administered by the LBSA in Kaunas county have already been implemented for EUR 223.4 m, and other projects worth EUR 384.7 m are being finalised. ‘Entrepreneurs are the most active in Kaunas region; their projects are valued at EUR 63.3 m. The amount of research and experimental development (R&D) projects amounts to EUR 51.9 m, energy EUR 49.3 m, and tourism projects in the region are worth EUR 2.1 m,’ said Burinskas. As the most active project developers in Kaunas, he mentioned AB Kauno energija, UAB Baltic Orthoservice, UAB Kauen craft, UAB Tututis, UAB Aciety and UAB Textilis, which are implementing from 8 to 30 projects.
The fastest-growing companies in Kaunas county earned a net profit of EUR 117 million last year, 2.7 times more than in 2018 and 62% more than in 2019.
A total of 160 companies were included in the Gazelė list of Alytus county, or 3.2% of all the fastest-growing companies in Lithuania. At the beginning of the year, these companies had over 2,400 employees – 600 more than in 2018. Revenues of the fastest-growing companies in 2020 amounted to around EUR 140 million. Gross revenue of the companies grew by 66% compared to 2018, and by 22% compared to 2019. Last year, companies in Alytus county earned a net profit of over EUR 14 million, three times more than in 2018 and 88% more compared to 2019.
A total of 144 companies were included in the Gazelė list of Marijampolė county, or 2.9% of all the fastest-growing companies in Lithuania. At the beginning of the year, these companies employed over 1,900 people, 17% more than in 2018. Their revenues in 2020 amounted to almost EUR 121 million. Gross revenues of the companies grew by 67% compared to 2018, and by 26% compared to 2019.
Last year, companies in Marijampolė county earned a net profit of EUR 10.5 million, or 3.3 times more than in 2018 and 69% more than in 2019.
The final ‘Gazelė 2021’ event will take place on 28 October in Vilnius.
In 2021 1,077 companies, or 22% of all the fastest-growing companies in Lithuania, were included in the Gazelė list in Kaunas county. At the beginning of the year, these companies employed over 15,500 people – 3,000 more than in 2018. Their revenue in 2020 was EUR 1.2 billion. Gross revenues of the companies grew by 73% compared to 2018, and by 29% compared to 2019.
Arūnas Burinskas, Deputy Director of the Investment Management Service of the Lithuanian Business Support Agency, presented the country’s business support guidelines, the opportunities from the European Union Structural Funds, the prospects of the new financial period and shared his insights into the future.
‘It makes sense and relevance for businesses to take advantage of the non-refundable business grant provided by the Business Support Agency in these challenging times. It can definitely increase the economic financial performance of a business project and reduce the risk it takes. The LBSA is interested in more EU investments going to the regions, therefore Kaunas region entrepreneurs have a wide range of opportunities,’ said Burinskas.
According to him, today, projects administered by the LBSA in Kaunas county have already been implemented for EUR 223.4 m, and other projects worth EUR 384.7 m are being finalised. ‘Entrepreneurs are the most active in Kaunas region; their projects are valued at EUR 63.3 m. The amount of research and experimental development (R&D) projects amounts to EUR 51.9 m, energy EUR 49.3 m, and tourism projects in the region are worth EUR 2.1 m,’ said Burinskas. As the most active project developers in Kaunas, he mentioned AB Kauno energija, UAB Baltic Orthoservice, UAB Kauen craft, UAB Tututis, UAB Aciety and UAB Textilis, which are implementing from 8 to 30 projects.
The fastest-growing companies in Kaunas county earned a net profit of EUR 117 million last year, 2.7 times more than in 2018 and 62% more than in 2019.
A total of 160 companies were included in the Gazelė list of Alytus county, or 3.2% of all the fastest-growing companies in Lithuania. At the beginning of the year, these companies had over 2,400 employees – 600 more than in 2018. Revenues of the fastest-growing companies in 2020 amounted to around EUR 140 million. Gross revenue of the companies grew by 66% compared to 2018, and by 22% compared to 2019. Last year, companies in Alytus county earned a net profit of over EUR 14 million, three times more than in 2018 and 88% more compared to 2019.
A total of 144 companies were included in the Gazelė list of Marijampolė county, or 2.9% of all the fastest-growing companies in Lithuania. At the beginning of the year, these companies employed over 1,900 people, 17% more than in 2018. Their revenues in 2020 amounted to almost EUR 121 million. Gross revenues of the companies grew by 67% compared to 2018, and by 26% compared to 2019.
Last year, companies in Marijampolė county earned a net profit of EUR 10.5 million, or 3.3 times more than in 2018 and 69% more than in 2019.
The final ‘Gazelė 2021’ event will take place on 28 October in Vilnius.
