In Vorarlberg, the number of business insolvencies in 2022 has increased more than in the rest of Austria. Don’t panic, says the Vorarlberg Chamber of Commerce.
“The companies of Vorarlberg are very well positioned, despite enormous challenges,” Wilfried Hopfner, chairman of the Vorarlberg Chamber of Commerce, looks optimistically to the new year. He will not let the positive mood be clouded by the recently published bankruptcy statistics for 2022.
Economy still stable
There, the state occupies first place in the increase in corporate insolvencies with 127.5 percent. Measured in absolute numbers – 116 insolvencies – Vorarlberg’s economy is still more stable than any other federal state.
For Hopfner, the situation is therefore far from worrying. “I don’t see any particularities in Vorarlberg. There is also no industry cluster,” the chairman of the Chamber of Commerce attributes the increase in the number of bankruptcies mainly to the expiry of the corona support measures.
“It has long been clear that companies that have been able to survive mainly thanks to government support will eventually run into problems,” says Hopfner. He currently sees the biggest bottlenecks in energy and manpower. “Even if the increase hurts, compared to Austria, energy prices in Vorarlberg are very good.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
