Switzerland saw 44,482 companies founded last year, the highest number to date and a 3% increase on 2018, according to the Swiss Official Gazette of Commerce. Investments in start-ups also grew strongly in 2019, topping CHF2 billion ($2.06 billion) for the first time.
This comes as the slowdown in eurozone economies, uncertainties around Brexit and the trade war between the US and China all took a toll on Switzerland’s general economic performance. Gross domestic product growth was just 0.9% in 2019, according to the State Secretariat for Economic Affairs (SECO).
External Content
Measures taken by the federal government and cantonal authorities in recent years have helped reduce the legal and administrative burden for small and medium-sized enterprises (SMEs). The Swiss National Bank’s decision in 2015 to abandon a minimum exchange rate against the euro also helped.
Factoring in the companies that go out of business each year, Switzerland gains on average 5,000 new companies annually, the vast majority (99%) of them are SMEs, which have fewer than 250 employees.
Setting up a company is a risky business: only half manage to survive beyond five years. And according to the Federal Statistical Office (FSO), 8.7% of self-employed people were living in poverty in 2017, compared with 3.7% of employees.
Men dominate
As is the case for top management and boards of directors, there is a clear predominance of men in business start-ups. In 2019, three-quarters of all companies were founded by men, according to analysis by the Institut für Jungunternehmen (IFJ).
The IFJ notes that Switzerland still lags slightly behind the international average in terms of the number of companies created by women.
Finally, a large share of Swiss start-ups are founded by students, PhD students, or recent graduates of high schools. These young companies are increasingly attracting the confidence of investors: funds made available to start-ups exceeded CHF1 billion for the first time in 2018, and went beyond CHF2 billion last year.
Switzerland abstains from vote on Palestinian bid for full UN membership
This content was published on
On Friday, Switzerland abstained from the vote at the General Assembly on granting the Palestinians new rights at the United Nations (UN).
Protein in abdominal fat could help shape obesity treatment
This content was published on
The study analysed fat cells from different locations in the body, and found that those in the abdomen have unique properties.
North African asylum claims fall after rapid Swiss processing
This content was published on
The accelerated procedure, now out of its test phase, has resulted in a significant drop in applications from North African countries.
This content was published on
The artist's song "The Code" focuses on their journey as a nonbinary individual. It is one of the favourites to win this year's contest.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.