Germany Sees Modest Rise in Business Startups in 2024
A 3% increase in new businesses reflects growing side ventures, but overall entrepreneurial activity remains stagnant since 2018, according to KfW data.
- Approximately 585,000 new businesses were launched in Germany in 2024, marking a 3% increase from the previous year, according to a KfW survey.
- The rise is primarily attributed to part-time entrepreneurs seeking additional income or pursuing business ideas alongside their main employment.
- Full-time business startups declined slightly by 1% to 203,000, while part-time startups grew by 5% to 382,000.
- KfW economists caution that entrepreneurial activity remains in a 'sideways trend' since 2018, far below peak levels of over 800,000 startups a decade ago.
- Nearly a third of new entrepreneurs view self-employment as temporary, with many citing a challenging job market as a factor in their decision.
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