In April saw the second wave of Covid-19 gain momentum, it seems a crisis is too good of an opportunity to waste, especially if you want to be an entrepreneur. In the last month saw an impressive 12,554 companies getting registered, which was nearly four times the number of companies registered in the same month last year though admittedly, that was also the first full month of a nationwide lockdown.

In fact, in the last financial year, the first full financial year in the shadow of the pandemic except for the months of April or May, company registrations were consistently above the 10,000 per month mark, hitting a peak of 17,324 in March, which was the highest number of company registrations in at least the last 5 years.

According to a report by the Ministry of Corporate Affairs, the total authorized capital of the companies registered last month was Rs 1,483.41 crore, with Maharashtra, the state that was worst affected in the second wave of Covid-19, leading with the largest number of companies registered, at 2,294, and 18.27 percent of all companies registered across India, followed by Delhi.

The top five sectors that saw the most number of companies getting registered were Business Services, which accounted for 27 percent of all newly registered companies in April, followed by Manufacturing (22%), Community, Personal & Social Services (13%), Trading (12%), or Construction (6%). Nevertheless, in April also saw the closure of 759,572 companies, out of a total of 2,163,829 that were registered as of April 30, 2021. Another 2,274 were labelled dormant, which are companies that have not done any business or filed their financial statements for the last two financial years. A further 6,906 companies are under liquidation while 39,572 companies are in the process of being struck off from the Register of Companies maintained by the Registrar of Companies.