Despite uncertainties – still many company foundations in Austria

The sector distribution is stable, only in the retail sector there was a slight decrease in the number of start-ups. This can be attributed to increased e-commerce, said Elisabeth Zehetner-Piewald, head of WKÖ’s start-up service. All in all, the number of newly established companies has leveled off at a high level lately. Although there were 18,126 new companies in the first half of 2022, there were 7.7 percent fewer startups than in the same period of the previous year, but the pre-corona pandemic value was significantly exceeded. The proportion of women was also high at 44.2 percent.

High inflation and labor shortages
According to Zehetner-Piewald, although the founding spirit in this country is strong, potential founders also have many concerns. These include high inflation and a difficult labor market situation. “As an employee, you can de facto choose where you work if you are qualified,” says the head of the start-up service. In addition, the lack of labor is a problem, as young companies already struggle to find suitable personnel.

However, Zehetner-Piewald does not expect a major drop in the number of new businesses in the near future, because, for example, high costs can already be taken into account in the planning. During the corona pandemic, possible lockdowns and increased digitization were already taken into account. To ensure that many companies in Austria continue to exist, a participation allowance and stricter unemployment insurance for the self-employed are necessary, among other things.