SEBRAE: Brazil Exceeds 11 Million New Micro Enterprises in 2020, Setting Record

"The growth in MEIs shows how they have become a key factor in the Brazilian economy over the past ten years," says the president of the Brazilian Micro and Small Business Support Service (SEBRAE).

RIO DE JANEIRO, BRAZIL - Brazil registered 2.6 million new Individual Micro-entrepreneurs (MEIs) in 2020, the highest figure for the past five years, according to a survey by the Brazilian Micro and Small Business Support Service (SEBRAE) with data from the Federal Treasury. Currently, the country has over 11.3 million active MEIs.

"An analysis of entrepreneurial tax evolution in the country for the last 20 years shows that in times of economic recession it is common for Brazilians to resort to entrepreneurship out of need, as an alternative occupation and source of income. This has already occurred in . . .

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