New start-ups at a record level – bankruptcies have also risen sharply

A record in new company start-ups
54,281 new businesses were established in Switzerland in 2025, which represents an increase of 4.8% compared with the previous year. The Canton of Zurich recorded the highest number of new start-ups, at 9,922, followed by the Cantons of Vaud (5,185) and Geneva (4,509). In percentage terms, the strongest growth was reported by the Canton of Zug, at +19.1 % in the number of companies.

New businesses were established most frequently in the management consultancy sector (4,272), the retail trade (4,265) and the real estate sector (4,127).
In some industries, there was a significant reduction in the number of new start-ups in comparison with the previous year. The computer services sector was particularly negatively affected in this respect (falling back by 17.3%), as were the food and drink sector (10.4%) and the retail trade (7.3%).

More filings for bankruptcy
Across the whole of Switzerland, 12,375 businesses filed for bankruptcy between January and December, which is equivalent to an increase of 38.7%. The highest percentage rise was recorded by the Canton of Thurgau, at +97.1%, followed by the Canton of Valais, at +95.3%. There was a drop in the figures in Appenzell Ausserrhoden (–14.3%) and Glarus (–10%).

The highest number of bankruptcies affected the construction industry (1,752 cases), the food and drink sector (1,210) and the retail trade (869). There was a particularly steep rise in the figures for personal services (+61.4%, including hairdressing and beauty salons), for the real estate sector (+52.5%) and for the sector covering services to buildings and landscape activities (+50.5%).

One reason for this sharp rise is a change in the law in Switzerland. Since 1st January 2025, it has been possible for tax liabilities to be pursued as far as bankruptcy if the debtors are listed in the commercial register.

About the survey
We have taken into account all those businesses that were first entered into or deleted from the commercial register, or that filed for bankruptcy, between 1st January and 31 December 2025.
For example, a company might be deleted automatically if it is dissolved; if bankruptcy proceedings are instigated; at the end of the liquidity deadline; if it is subject to mergers; or if a company is closed as a result of a lack of any plans for succession.

New start-ups by Canton, January to December 2025

Filings for bankruptcy by sector (NOGA), January to December