الخميس, يناير 18th 2024
Swiss Business Landscape Shaken: Bankruptcies Climb by 5%, Despite a Rise in New Ventures
The Swiss corporate world faced a challenging year, with a notable 5% rise in company bankruptcies compared to 2022. The total number of businesses declaring insolvency reached 5,089, marking a continuation of the upward trend that began in 2022. This data, released by Dun & Bradstreet in their latest survey, highlights a significant shift in the post-pandemic economic landscape.
In 2022, the bankruptcy rate had already escalated by over 20%, a spike attributed to the withdrawal of government-backed COVID-19 financial support. The trend varied regionally in 2023, with Eastern Switzerland witnessing a 13% surge in insolvencies, Northwestern Switzerland 12%, and Espace Mittelland 11%. Conversely, Central Switzerland and Ticino saw more modest increases of 4% and 2%, respectively. Notably, Southwestern Switzerland experienced a 4% decrease in bankruptcies, offering a glimmer of resilience amidst the economic turmoil.
The wood and furniture sector emerged as the most vulnerable, with insolvency rates 3.1 times the national average. The hospitality sector followed closely, with a 2.24 times higher frequency of bankruptcy. The skilled trades sector also felt the impact, with a 2.18 times increase in bankruptcies compared to the average. Additionally, the construction and land transportation and logistics sectors are showing signs of increased vulnerability.
In contrast to the rise in bankruptcies, Switzerland also saw a growth in entrepreneurship. The commercial register recorded 51,630 new companies, a 3% increase from the previous year. Northwestern Switzerland led this positive trend with a 7% rise in start-ups, followed by Zurich and Eastern Switzerland, both at 5%. However, Ticino experienced a slight downturn with a 1% decrease in new business registrations.
The wood and furniture industry, despite its high bankruptcy rate, also saw the highest number of start-ups, followed by personal and healthcare services. This dual trend of high bankruptcy and start-up rates in the same sector could indicate a dynamic market, where new businesses are emerging even as existing ones falter.
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