Almost a quarter more start-ups in the first half of the year

In the first half of 2021 there were 23.6 percent more start-ups than in the same period of the previous year. Compared to the pre-Corona year 2019, 15.1 percent more was founded. There were a total of 19,708 start-ups in the first half of the year, most of them in the trade sector, followed by information and consulting, according to data from the Chamber of Commerce (WKÖ). In particular, there was growth in those areas that received a boost from digitization in the Corona period, such as the IT industry or mail order. The number of start-ups is also high in the booming construction industry, where the pre-crisis values ​​of 2019 were significantly exceeded.

48.7 percent of the newly founded companies rely heavily on digitization in their service provision and for 47.2 percent of the founders, digitization is also an integral part of their future plans, according to an Economica survey from July.

While in the founding period from June to November 2020 41.3 percent of the founders perceived the Covid 19 crisis as a threat to their existence, in the period from December 2020 to May 2021 it was only 21.6 percent.

The economic situation has improved significantly this year in the course of the first half of the year. “The restart of the Austrian economy after the end of the lockdowns and reduction of the protective measures also has a positive effect on the companies that have been founded,” said the Chamber of Commerce. 15.7 percent of the founders already have a high and a further 34.5 percent at least a slight increase in demand.

“Many Austrians have used the pandemic to create a monetary advantage from their hobby. This is shown by the increase in start-ups in the arts and crafts sector,” said Elisabeth Zehetner-Piewald, Federal Director of the Founding Service in the Austrian Federal Economic Chamber. In the IT sector and mail order and online trading, many new business models have been adopted or established.