Thus, 2020 is the year with the highest company formation in Switzerland despite Covid 19 situation. Forty-seven thousand new companies were formed in 2020, which is 5% more than the previous year. At the end of 2020, even the Swiss lockdown decisions did not stop Swiss entrepreneurs from starting their business and setting up their own company. They also did not close down the economy as lots of the other countries did. The government offered the guarantee funds to banks to support the companies affected by Covid 19, which enabled most of them to avoid bankruptcy. Nevertheless, it's worth mentioning that the Swiss economy has better endured the Covid impact than most developed countries. Experts project the economy to shrink up to 6%, which is the largest since the seventies. Of course, the Covid 19 situation has also negatively affected the Swiss economy. These are only a few of the reasons why Switzerland constitutes one of the world's largest startup hubs. This attitude makes them less reserved about trying out new things, and entrepreneurs can easily take advantage of this and test their business ideas on the market. The high standard of living makes customers less price-sensitive and more quality-oriented. Besides the Federal government, several startup incubators and investment & innovation promotion agencies offer various support programs. Even the Federal government has several programs which support innovation and research projects. At this point, we shall stress that the Swiss banking sector is very developed and innovative. Thus, companies have access to an extensive pool of talents. When it comes to the startup ecosystem, despite having a small territory compared to its neighbors, it is a very well-connected country, and companies can easily reach out to people and obtain monetary funds.įurthermore, Switzerland's education system belongs to the best in the world. Many people decide to start a business in Switzerland, and there are many good reasons to do that.įirst of all, Switzerland is a lovely country to settle down in and has a very high standard of living. If you have decided to form a company in Switzerland, you made a great choice. If you are thinking of starting a business in 2021, you belong to the second category. These entrepreneurs can be considered as a special breed who see opportunities where others are blinded by roadblocks. However, on the other hand, another type of people saw and seized development possibilities instead of getting caught in fear. Many people responded to this situation by canceling their plans, increasing their savings, and avoiding other risks they anticipated. The last eleven months showed us that even if we plan everything to anticipate and avoid the potential risks, we are vulnerable to external factors such as the pandemic Covid 19. However, in the context of doing business, playing safe and not considering the changes occurring in the ecosystem where you are operating has not always resulted in success, especially nowadays when disruptive innovations transform the world and the way we live. Evolutionarily, this strategy has had a positive outcome for us because we have survived and prospered. It's in human nature to become defensive every time that we feel threatened.
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