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More businesses founded than failed in 2009

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More businesses founded than failed in 2009
Photo: DPA
08:36 CET+01:00
Despite suffering the worst economic crisis since World War II, more businesses were founded in Germany in 2009 than shuttered, according to a study cited in daily Rheinische Post on Monday.

The Bonn-based IfM, an institute for research on small and mid-sized businesses, found that some 410,000 firms were established last year. Meanwhile the number of insolvencies was 397,000 – a difference of 13,000.

In particular, small industrial companies employing up to 20 workers were most successful at overcoming the economic downturn, IfM President Johann Eekhoff told the paper.

According to a recent poll of some 1,500 mid-sized businesses, one-third expect the economy to recovery and await an increase in orders by autumn of 2010 at the latest, the report added.

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