Young, innovative and creative – this is how the young entrepreneur scene in Vienna presents itself. The business location has coped well with the pandemic, at least for start-ups.
Specifically, 9,051 companies were founded in Vienna last year. In total, almost a quarter of all start-ups in Austria are in Vienna (23 percent). “The business location has coped with the consequences of the pandemic better than average. Another proof of this is the high level of start-up activity. This means that we are almost at the level before the pandemic,” says Chamber of Commerce President Walter Ruck. Particularly pleasing: the new Viennese companies are creating 17,200 direct jobs. The added value contribution is 2.4 billion euros. In addition to the jobs that are located directly in the companies, they also provide many jobs indirectly – the overall economic employment effect amounts to over 28,000 jobs.Young Viennese with entrepreneurial spiritVienna not only has the most founders in Austria, but also the youngest. “The average age of Viennese founders has fallen continuously in recent years and is currently 36 years – Austria-wide 38 years,” says Clemens Schmidgruber, head of the Young Economy in Vienna. Multiple crises put a heavy burden on companies According to the experts, 40.3 percent more Viennese companies went bankrupt in the first quarter than in the same period of 2022. The various crises – from the aftermath of Corona to the war in Ukraine to inflation – would show their effects.
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