Austria: Companies stand out positively in the EU comparison!

Austria: Companies stand out positively in the EU comparison!

Laimgrubengasse 10, 1060 Wien, Österreich - The Austrian companies are not only well positioned on the European market, but also show impressive resilience. According to a recent study by SME research Austria, which was carried out on behalf of the Federal Ministry of Labor and Economy, Austria is in international comparison the lowest market exit rates and impressively long company life cycles. Labor and Economic Minister Martin Kocher emphasizes that the low exit rate of 4.9 percent (for comparison: EU average 7.6 percent) and the five-year survival rate of 54 percent in newly founded companies (EU average 46 percent) speak for the great resistance of the domestic economy. A positive development that also underlines the increase in employment among established companies - here Austria leads in the EU!

In 2023, around 36,800 companies in Austria. Most closures are voluntary and affect solvent companies that give up for economic reasons. Kocher emphasizes the need to receive both productive companies and to quickly restructure them in need of need or to take them out of the market in an orderly. Insolvency law in Austria is seen as effective to support these processes. Programs such as “Perspective Future” are available to offer companies in crisis situations that offer individual and funded advice.

extensive SME statistics from Germany