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's activity report 2022

The year 2022 marked a significant milestone for Vennad Elekter OÜ as it was their inaugural year of operation. This was a year of laying the groundwork, establishing their brand, and navigating the challenges that come with starting a new business. Despite the hurdles, the company managed to generate a sales revenue of 15,595 EUR in the fiscal year of 2022. This is a commendable achievement for a company in its first year of operation, demonstrating the potential for growth and success in the coming years.

However, the company's net profit for the reporting year stood at -6,689 EUR. This is not uncommon for businesses in their first year of operation, as initial expenses often exceed revenues. The costs associated with setting up a new business, such as purchasing equipment, leasing premises, and marketing, can be substantial. These initial investments are necessary to establish the business and position it for future profitability.

The company's workforce was modest, with an average of one employee throughout the year. This lean operation model is typical for startups, allowing for flexibility and cost control while the business is still finding its footing.

At the end of the fiscal year, the company's net assets were in the negative. This is a reflection of the company's first year of operation, where costs exceeded revenues. However, it's important to note that this is not indicative of the company's potential for success. Many successful businesses have started with negative net assets in their first year, only to turn things around in subsequent years.

Looking ahead to 2023, the primary task for Vennad Elekter OÜ is to increase its profitability. This will involve a strategic focus on revenue generation and cost control, with the aim of bringing the company's net capital into compliance with requirements. This is a common goal for businesses in their second year of operation, as they shift from establishing their business to focusing on profitability and growth.

In conclusion, while Vennad Elekter OÜ's first year of operation presented some financial challenges, the company has demonstrated its potential for success. With a strategic focus on profitability in 2023, the company is well-positioned to overcome its initial hurdles and achieve sustainable growth in the future.