Incorporations after the Global Crisis

Armenia was particularly hit by the global financial crisis. As gleaned from the number of newly registered corporations (limited liability), Armenia has yet to fully recover. Georgia was badly impacted as well, but is making a nice recovery. Other countries too have yet to fully recover as shown in the figures below from a newly released World Bank dataset on entrepreneurship in 130 countries.

Source: extracted from xls spreadsheet downloaded from http://www.doingbusiness.org/data/exploretopics/entrepreneurship. Thank you Shushan for sharing it.