Higher growth in entrepreneurial income

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Updated:

Entrepreneurial income for the self-employed amounted to NOK 257 000 on average in 2017. This is an increase of NOK 5 000, or 2 per cent.

Numbers were revised 20/2/2019. Updated tables is in the StatBank. The revision results in fewer self-employed having their main income from self-employment during the period 2015-2017.

A total of 328 000 persons reported entrepreneurial income in 2017. This is a decrease of 3 000 from 2016, according to new figures from Income, self-employed.

A total of 122 000 of the self-employed have their main income from self-employment, which is about 37 per cent. This is a decrease of 1 per cent from 2016. In this period, the average entrepreneurial income has grown by 2 per cent to NOK 595 000 for this group of self-employed. 206 000 of the self-employed had their main income from wages and public pensions. This is 2 000 less than in 2016. This last group had an average entrepreneurial income of NOK 58 000.

Among those that were assessed as self-employed or those assessed with entrepreneurial income, many did not have an obligation to submit an income statement due to low annual turnover or because they are assessed as a general partnership. Some are also subject to best judgment tax assessment. These are not included in the statistics showing the income and costs of self-employed in sole proprietorships.

1 Corrected 20 February 2019.

Figure 1. Entrepreneurial income for self-employed, by main income. Average

2013 2014 2015 2016 2017
Total 235600 243400 248500 252300 257400
Main income from industry 528300 549400 567500 582300 595000
Main income from wages and public pensions 51900 54100 55200 56100 57500
 

Results for sole proprietorships with main income from self-employment

A total of 232 000 sole proprietorships submitted an electronic income statement in 2017 with an average operating result of NOK 257 000.

Sole proprietorships with main income from self-employment comprise of almost 98 000 firms. Average operating profit amounted to NOK 536 000, which is about 2 per cent higher than the year before. Operating income amounted to NOK 1 373 000 on average, while operating cost amounted to NOK 837 000. Among the operating incomes there is an increase in sales revenues of 1 per cent or NOK 11 000. The income statement for sole proprietorships having their main income from self-employment is divided by industry, and the results for some of them show:

  • Primary industries
    Sole proprietorships within the industry had an operating profit of NOK 493 000 on average. This is an increase of 4 per cent from 2016. Average operating income and cost amounted to NOK 1 994 000 and NOK 1 500 000 respectively.
  • Transportation and storage
    Sole proprietorships within the industry had an operating profit of NOK 542 000 on average. This is a decrease of 1 per cent from 2016. Average operating income and cost amounted to NOK 1 626 000 and NOK 1 083 000 respectively.
  • Construction industry
    Sole proprietorships within the industry had an operating profit of NOK 506 000 on average. This is an increase of 2 per cent from 2016. Average operating income and cost amounted to NOK 1 278 000 and NOK 772 000 respectively.
  • Human health and social work activities
    Sole proprietorships within the industry had an operating profit of NOK 870 000 on average. This is an increase of 2 per cent from 2016. Average operating income and cost amounted to NOK 1 379 000 and NOK 509 000 respectively.

Where are the numbers gathered?

The data is collected electronically from the Directorate of Taxes.

The self-employed are classified by whether their main income comes from self-employment or wages and pensions.

The tables divided by industry consist of sole proprietorships having their main income from self-employment.

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