Thuringia's business registrations rise by 4.3 percent - an upswing?

Thuringia's business registrations rise by 4.3 percent - an upswing?

The economic landscape in Thuringia is showing exciting developments: in the period from January to August 2023, business registrations rose by 4.3 percent compared to the same period last year. A total of 8,161 new businesses were registered, which is 338 more than in the previous year. What is particularly pleasing is that over 82 percent of these registrations are start-ups. This shows that entrepreneurship in the region continues to flourish, as Stern.de reports.

A look at the composition of new start-ups shows that the majority are small businesses and part-time businesses. With around 6,723 start-ups, this represents an increase of 4.6 percent compared to the previous year. This is good news for the economy, as it shows that many people are taking the step into self-employment. In addition, 22.7 percent of the founders have also set up corporations or partnerships with employees.

Business de-registrations on the rise?

But there is also less good news. The number of business de-registrations rose to 7,801 in the same period, an increase of 2.9 percent compared to the previous year. Over 81 percent of these deregistrations were registered as complete abandonment of the business. A high fluctuation in registrations and deregistrations was found, particularly in areas such as car dealerships, vehicle repair shops, gardening and landscaping, temporary employment agencies and travel agencies.

The importance of smaller businesses and services remains high, as small businesses and part-time businesses account for over 77 percent of new businesses. New commercial start-ups experienced the highest increase in 2024, with 9,284 registrations, which is 0.4 percent above the previous year's level, as Nordthueringen.de reports.

The market in transition

Business registrations and de-registrations are balanced in Thuringia. In 2024, there were 106 deregistrations for every 100 registrations, which illustrates the challenges for entrepreneurs. 81.3 percent of the new businesses were start-ups. Most registrations came from the commercial sector, where 2,744 new businesses were reported. But the service segment is also strong, with 1,584 registrations for the provision of economic services.

A few months later, in 2024, the number of new businesses stagnated, while de-registrations increased by 5.1 percent over the same period. Almost 10,600 businesses were registered, while deregistrations reached the same number. Die Thüringer reports that the ratio of registrations to deregistrations remains challenging.

The challenges and opportunities that come with these numbers are clear. Entrepreneurs in Thuringia have to continually adapt in order to survive in a changing market. However, one thing remains undisputed: the entrepreneurial spirit is still strong! Entrepreneurship is an important driver of regional development and remains a building block for the future of our economy.