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November 2016 report shows steep growth in new company formations

The new company formations report for November 2016 clearly shows that, once again, the number of new companies in Switzerland is growing. The end of the year may even show a new record for start-ups. By November, 3,466 new companies had been entered into the Commercial Register, representing a growth of 3.74% on the previous year.

(Source: Schweizer Handelsamtsblatt, SHAB)

New start-up record within reach

The new company formations report of November 2016 is to be warmly welcomed, as it clearly shows that, once again, the number of start-ups being founded in Switzerland is increasing. This month, the Swiss Commercial Gazette (Schweizer Handelsamtblatt) shows 3,466 new entries in the Commercial Register. This represents a 3.74% increase on the previous year. Growth on the previous month is even stronger at 9.13%. If this December shows as many new registrations as last December, then 2016 will see a new record for new company formations. This would be good news for the Swiss economy, which in the past few years had had to contend with several challenges.

Inter-cantonal comparison

In this new company formations report, the standout performer is the canton of Schwyz, with a record number of 107 new entries. It has thus increased its relative share of new formations in Switzerland as a whole to 3.09%. Still unbeaten at the top is Zurich with 622 new entries in November, which corresponds to a relative share of 17.95% of all new formations. Then follow the western cantons of Lausanne (9.41% share) and Geneva (9.09% share).

Compared to the previous year, the canton of Appenzell Innerrhoden posted extremely strong growth of 1,000%. This outlier is attributable to big changes within the canton; last year it registered just one new formation, but this year has seen ten. Strong growth was also seen in Zurich (+7.99%), Geneva (+10.92%) and Bern (+13.03%). Based on consistent performance from these and other economically dominant cantons, November 2016 also posted extremely strong overall results with good growth.

The following graphic provides further details on the individual cantons.

(Source: Schweizer Handelsamtsblatt, SHAB)

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