Foundation Report February: Another Increase
In February, startups were established diligently. Across Switzerland, there were 4828 new commercial registry entries, marking an increase of 12.91% compared to January. February 2024 also outperformed the same month in the previous year by +9.01%.
2024 vs. 2023
The strength of February 2024 was also evident in the year-on-year comparison between 2024 and 2023. During the first two months of the current year, 6.32% more new companies were founded compared to the previous year. Thus, the total number of startups in the first two months of 2024 amounted to 9104.
The Romandie Region Takes the Lead
With a total of 1364 startups, the Romandie region recorded the highest number of creations in February. This result represented an increase of 14.05% compared to January and a change of +8.34% compared to February of the previous year. In Geneva, the increase was particularly noticeable, with a 35.50% rise in commercial registry entries compared to the previous month.
Zurich Soars High
In Zurich, there were 923 new startups, marking a 20.50% increase compared to the previous month and a 15.09% increase compared to the previous year. The Central Switzerland region also saw a significant increase, with a staggering 23.77% rise compared to January, resulting in the establishment of 656 new companies. Zug was the canton with the strongest startup activity, boasting 258 new startups, a 33.68% increase from the previous month.
A Light Increase
Contrary to the strong increases in the aforementioned regions, the positive trend was slightly weaker in the Northwestern and Eastern Switzerland regions. Northwestern Switzerland recorded 1056 new companies, an increase of +2.52% compared to the previous month, and a slight rise of 4.87% compared to the previous year. In Eastern Switzerland, the number of new startups was 596, with a change of 5.49% compared to January. The majority of startups were attributed to St. Gallen, which counted 263 new companies.
Outlook
The new year was heralded with a large number of business startups. The comparison between 2024 and 2023 showed an overall increase of 6.32%. In recent years, there has been a significant surge in March, and as such, this is also expected for March 2024.
