Germany: Interest in starting businesses declines

Germans are losing interest in starting their own business or becoming self-employed. The German Chambers of Industry and Commerce see the trend as a threat to the country’s economic development.

https://p.dw.com/p/4Twmd

Closed restaurant in the city center of Bonn, Germany — Even after the end of the coronavirus pandemic, there has been no recovery in the restaurant and catering sector in GermanyImage: Ying Tang Alliance/NurPhoto/picture

People in Germany show less and less interest in starting a business or working for themselves. The number of inquiries for potential founders at regional Chambers of Industry and Commerce dropped 3% to 154,785 in 2022 compared to the previous year.

It is the lowest level since counting began in 2002, the German Chamber of Industry and Commerce (DIHK) said on Saturday. In 2010, 431,000 consultations were carried out.

“After the coronavirus pandemic, there was no impetus for start-ups, for example in retail or gastronomy,” he added. Compared to the year before the 2019 crisis, there was even a drop in initial consultations on more concrete projects by 42%.

Source: DW

Lori

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.

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