The number of Swiss start-ups launched has risen significantly in the first six months of 2021 while the number of companies filing for bankruptcy has decreased, studies have shown.
This content was published on
2 minutes
swissinfo.ch/jcb
In the first half of 2021 over 26,000 new companies were added to Switzerland’s commercial register, an increase of over 20% compared to the year before, a new report by Dun & Bradstreet has found.
This boom was felt in almost every sector of the economy and constitutes a new record for the number of Swiss start-ups founded in a six-month period, the report claims.
The Covid-19 pandemic is credited as the cause of the increased company registration, Dun & Bradstreet said. In June 2021 the Swiss government scaled up its plans to support small companies that had been hit by Covid-19, adding an additional CHF300 million ($330 million) to its hardship payments fund. The report also says that the number of Swiss companies filing for bankruptcy has fallen by one percent compared with last year.
More
More
Hardship funds boosted for struggling Swiss companies
This content was published on
Hardship payments were set up to support the worst hit firms, such as restaurants and bars, that have been forced to close for longer than other businesses. Nearly CHF3 billion has been paid out to more than 30,000 companiesExternal link so far. The majority of payments (CHF2.7 billion) are in the form of subsidies that…
Despite this, a recent study by the KOF Swiss Economic Institute, part of the federal technology institute ETH Zurich, indicates that bankruptcies may now be on the rise again. The number of companies going bust increased significantly in May of 2021. Particularly affected are sectors such as the hospitality or entertainment industries that have faced structural shifts as a result of changing consumer behaviour brought on by the Covid-19 pandemic.
The trend of increasing bankruptcy amongst Swiss companies is likely to continue, the ETH report claims.
Popular Stories
More
Life & Aging
Switzerland no longer wants to foot the bill for ‘suicide tourism’
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
Swiss central bank chief rejects holding bitcoin in reserves
This content was published on
Swiss National Bank (SNB) President Martin Schlegel rejects the idea that the central bank should hold part of its reserves in bitcoin, as proposed by a people's initiative.
The legal changes that come into force in Switzerland on March 1
This content was published on
On March 1, a number of legal changes come into force relating to self-driving cars, increased imports of grain and lower electricity usage costs. Here is an overview.
Swiss president condemns Russian aggression and calls for peace in Ukraine
This content was published on
Swiss President Karin Keller-Sutter has reaffirmed Switzerland's commitment to a "just and lasting" peace in Ukraine, while condemning Russian aggression.
Swiss organisations unhappy with species protection funding
This content was published on
Swiss environmental organisations consider the financing plan adopted at the World Conference on Nature in Rome to be inadequate.
Swiss researchers make progress on malaria vaccine
This content was published on
A Swiss research team has come one step closer to developing an effective malaria vaccine. They have genetically modified the malaria parasite so that it cannot cause malaria.
Peace Prize launched to mark centenary of Locarno Treaties
This content was published on
To mark the 100th anniversary of the Locarno Treaties, the Swiss city of Locarno has launched a Peace Prize in collaboration with the Locarno Film Festival. This will be presented for the first time in August.
Covid-19: More than 40,000 catering jobs lost in 2020
This content was published on
More than 40,000 people in the Swiss hospitality and catering industry lost their jobs last year owing to Covid-related closures.
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.