The Swiss Times - Swiss News in English

Start-ups on record course in the first quarter

Updated at 28 Mar 2024 2:40 pm

Significantly more companies were founded in the first three months of the year than in the previous year. There are some significant differences between the regions and sectors.

According to a survey published on Thursday by the IFJ Institute for Young Entrepreneurs, a total of 13,453 new companies were entered in the commercial register in the first three months of the year. This is 4.1 percent more than in the same period last year, whereby the previous year's figures were adjusted for the effect of the Easter holidays.

On average, 5.8 companies were founded per 1000 inhabitants in Switzerland in the first quarter. According to the IFJ, the start-up figures for the first quarter were positive. With 150 companies founded per day, there is still an upward trend. However, it remains to be seen whether this trend will continue and lead to another record number of start-ups this year.

The increase was most pronounced in the cantons of Graubünden and Uri, with double-digit percentage rates. There was a double-digit decrease in newly founded companies in Appenzell Innerrhoden and the canton of Obwalden.

Fewest companies are founded in Uri

However, with fewer than 4 newly founded companies per thousand inhabitants, Uri brings up the rear in this ranking, narrowly beaten by the canton of Bern.

The canton of Zug continues to lead the field by some distance with more than 21 new start-ups. This result is attributed to the tax advantages for companies and the positive start-up mood in the canton.

The cantons of Schwyz, Geneva, Nidwalden and Zurich are just above the Swiss average of 5.8. On the other hand, Solothurn, Basel-Land, Aargau and Schaffhausen all registered fewer than 5 new start-ups per thousand inhabitants.

The top growth sectors in the first quarter included mobility, marketing & communication and IT & ICT.

©Keystone/SDA

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