The European business landscape appears to be thriving, with a total of 3.4 million new companies opening in 2022, outnumbering the 2.8 million that closed their doors, according to data from Eurostat. Countries like Lithuania, Portugal, and Estonia led the way in launching new businesses, while Austria, Denmark, and Italy saw lower rates of growth. Despite challenges, the EU boasts over 32 million businesses and 160 million employees, with micro and small enterprises making up 99% of the business ecosystem. These smaller companies play a significant role in the EU economy, generating nearly a third of the total turnover. The industry sector generated the highest turnover in 2022, followed by services, trade, and construction. Services also employed the most people, with 51% of the workforce engaged in this sector. These figures highlight the resilience and diversity of businesses across the EU, showcasing the importance of entrepreneurship in driving economic growth and job creation.
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What EU countries have the highest number of businesses being launched?
