Vienna blooms on: 218 new companies defy the crisis!

Vienna blooms on: 218 new companies defy the crisis!

The FPÖ Vienna has presented alarming facts about the current economic situation. In view of the increasing company bankruptcy, the FPÖ city council Dominik Nepp calls for the establishment of an urban society that provides bridging loans for companies in need. "The Chamber of Commerce could provide the necessary funds because it has over 120 million euros in reserves in Vienna alone," said Nepp in a press conference in the town hall. A worrying decline in business development from EUR 319 million in 2019 at only 109 million euros in 2023 was also listed, which is considered a co -cause for the increasing bankruptcies.

Gerald Zmuegg, a recognized economic expert, predicts up to 3,000 bankruptcies for this year in Vienna. "A total of 3,450 companies had to record bridging loans of 630 million euros in order to pay debts from the Lockdowns," warned Zmuegg. The legislative and financial support is therefore crucial to counter a further economic downward movement, such as ots.at reported.

positive signals in the company settlement area

Despite these dark forecasts, Vienna shows itself from its resilient side. In 2024, 218 new companies from 47 different countries settled in the federal capital. This corresponds to a remarkable increase of 25 percent compared to the previous year and brought a total of 530 million euros in investments. Mayor Michael Ludwig (SPÖ) sees these numbers proof of the crisis resistance of Vienna and the attractiveness of the business location, despite the challenging economic situation.

Especially from the areas of information and communication technology and life sciences come most new companies, while startups from the climate change and digitization sectors also show a trend towards settling in Vienna. The recently located Japanese startup Spiral Europe emphasizes that Vienna was chosen as a European location due to its leading tunnel construction technology. These developments are crucial for the securing of new jobs in Vienna, so DetailsOrtLaimgrubengasse 10, 1060 Wien, ÖsterreichQuellen

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