Fewer new Belgian start-ups last year, first drop in over a decade
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Loading... - Alice Peeters
- 11 May 2023
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The number of new start-ups launched last year in Belgium fell for the first time in over a decade, according to a report by the GraydonCreditsafe service company.
In total, there were 115,645 new businesses established in Belgium in the past year, a decrease of nearly 3.5% compared to the previous year. Experts from both UCM and Unizo, two organizations representing the self-employed in the country, attribute this decline to the ongoing economic impact of the conflict in Ukraine.
Although the number of new companies grew in 2021 following the pandemic, this trend was not sustained in 2022, as Belgian startups struggled with surging energy prices, record-high inflation, and wage indexation. The three regions of Belgium - Flanders, Wallonia, and Brussels - all saw a decrease in new company formation, with Flanders experiencing a 3.58% decline, Wallonia experiencing a 2.57% decline, and Brussels experiencing a 0.37% decline. Furthermore, the survival rate of Belgian startups currently stands at 49.57% after ten years of operation.
