2013 a record year for new company registrations
A record 40,000 new companies were set up in Switzerland over the course of 2013, representing a 3.7% increase on the previous year.
In the canton of Zurich, new company registrations were up by as much as 6.7% with as many as 445 businesses set up over the course of 2013.
As a result of the uncertainty of political and economic developments in their own country, Italian entrepreneurs moved over the border into the canton of Ticino to set up 3,207 companies there, an increase of 14.7%. This is welcome news as in 2013 the canton had the third highest level of unemployment of all Swiss cantons at 4.8%. Of the total cantonal population of 341,553, 26.7% are foreigners.
Fiscal policy in France is thought to be behind the fact that entrepreneurs from there set up as many as 3,346 new companies in the canton of Geneva, an increase of 6.2%. This is very welcome news there, too, as, surprisingly, in 2013 the canton had the highest level of unemployment in the whole of Switzerland at 5.8%. At 39.6%, the canton also has the highest proportion of foreigners among its 462,848 population.