Company formations: Switzerland is heading for a record year

This is shown by the latest survey by the online company formation platform Startups.ch.Young entrepreneurs are on the rise in Switzerland. In the first nine months of 2017, 35,498 new companies were entered in the Swiss commercial register (+5.2%; 2016: 33,744). October was a brilliant month with an increase of more than 13%. A new record is therefore within reach for 2017.

Hype also thanks to cannabis

"We are expecting over 43,000 new registrations for the first time this year. This would mean that around 2,000 more companies would be founded compared to 2016, corresponding to an increase of around four percent. This would be a new all-time record. The startup hype can be explained by the fact that founding a startup today is more attractive for young, well-educated people than starting out at the bottom in a large corporation. Above all, this has to do with self-determination and self-realization. The legalization of cannabis has also led to a hype in the industry," explains Michele Blasucci, CEO of STARTUPS.CH. Numerous young entrepreneurs have now entered the cannabis business.

Bitcoin & Co. provide a boost in the canton of Zug

The canton of Zug recorded outstanding growth. With 1746 new entries, more than 16% of new companies were registered here. The canton is the first cantonal commercial register office to accept non-cash contributions with cryptocurrencies, meaning that Bitcoin, Bitcoin Cash and Ether are recognized without further ado. "More and more foundations are being set up in Zug with the purpose of launching cryptocurrencies," explains Michele Blasucci. The reason for choosing a foundation as a legal form is that cryptocurrencies do not actually belong to anyone in the same way as conventional money, he explains.

Western Switzerland remains dynamic

French-speaking Switzerland continued its dynamic development with 10,388 newly registered companies, which corresponds to an increase of 6.4%. "Company growth in French-speaking Switzerland continues to be very dynamic and is due to the very intensive promotion of both state and private institutions," explains Michele Blasucci. German-speaking Switzerland is also doing well with 23,242 (+5.8%) new companies, while Ticino recorded a decline of over seven percent, with the cantons of Geneva (new registrations: 2996, +6.1%) and Vaud (new registrations: 3624, +4%) particularly attractive for young entrepreneurs. In German-speaking Switzerland, Zurich remains the most populous canton with 6422 new registrations (+5%). Foundation reportAt www.startups.ch the new STARTUPS.CH start-up report is published monthly. With a start-up index and a start-up barometer, the report provides an overview of the start-up landscape in Switzerland.Source: Swiss Official Gazette of Commerce (SHAB)