Entrepreneurial activity is booming in Lithuania’s three biggest cities - Vilnius, Kaunas, Klaipėda - and the coastal resorts of Neringa and Palanga, according to the 2015 Entrepreneurship Map from the Lithuanian Central Credit Union (LCKU).
Lithuanian Central Credit Union
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A total of 463 entrepreneurs were financed by the Entrepreneurship Promotion Fund (VSF) in 2014, or by 55 percent more than in 2013. Young people aged up to 29 years old were the most enterprising.
Sixty-three credit unions operating under the Lithuanian Central Credit Union (Lietuvos Centrinė Kredito Unija - LCKU) earned LTL 183,000 (EUR 53,000) in profit in the first three quarters of 2014. In the first three quarters of 2013 they recorded a LTL 5.5 million (EUR 1.6 million) loss.
Assets of 63 credit unions that are members of the Lithuanian Central Credit Union (LCKU) amounted to LTL 1.37 billion (EUR 397 million) by the end of the first half of 2014. The figure is 6.4 percent bigger compared with the first half of 2013 when it stood at LTL 1.29 billion (EUR 373 million).
