The entrepreneurial spirit soared to new heights in Switzerland during the past year, marking a historic influx of individuals embracing self-employment and initiating fresh enterprises across

the country.

An astounding 51,637 new companies emerged across Switzerland in 2023, averaging at 141 startups per day, as highlighted by the Institut für Jungunternehmen (IFJ) on Friday. This figure represents a remarkable 3.2% increase from 2022 and a notable 2.2% rise from the previous record-setting year of 2021.

Comparatively, over the past decade, an average of "only" 45,409 companies were established annually. The surge of 13.7% in new business ventures witnessed in 2023 significantly surpasses this decade-long average, indicating a pronounced appetite for professional independence among individuals. The IFJ experts attribute this surge to a desire for greater professional autonomy, with many opting to pursue entrepreneurial ambitions alongside their existing jobs. The institute views this burgeoning trend of new company formations as a crucial driver of the local economy.

Across most major Swiss regions, there was a noticeable upswing in new business ventures in 2023. The northwestern and eastern regions experienced the most substantial increases of 7% and 5.2%, respectively. However, the southern Ticino region witnessed a slight decline of 1.2% in startup formations.

Analyzing the performance at the cantonal level, Graubünden registered the most significant surge at 13.8%, while Obwalden experienced a notable decline of 16.1%, according to IFJ reports.

Remarkably, the limited liability company (GmbH) remains the preferred legal structure for new entities, with 20,419 companies formed in this capacity, marking a 2.7% increase from the previous year. Surprisingly, there was a notable surge of 17.3% in the establishment of new general partnerships, a trend noted by the institute.

Conversely, the proportion of public limited companies experienced a decline of 5.3%, signaling a shift in preference among new entrepreneurs for different legal business structures. Photo by kuhnmi, Wikimedia commons.