Hamburg posts sharp rise in new companies

Number of companies being set up in the metropolis on the Elbe rises by 22 per cent over same period last year
19 August 2021
Business-Meeting in der HafenCity

More than 2,700 companies were set up in Hamburg in the first half of 2021. This corresponds to a rise of more than 22 per cent by comparison with the first six months of last year. It means that the number of companies being set up reached the highest level since the first half of 2008, when there were 2,808 launches, the Statistikamt Nord (North Statistical Office) reported.

Number of new companies rises significantly

The statisticians pointed to “catchup effects” as one of the factors behind the rise in company setups (2,721 new companies), since restrictions imposed as a result of the Corona pandemic have increasingly been lifted. This means that there were 1.4 company launches per 1,000 Hamburg residents. The ratio of company launches ranged between 0.7 in the Bergedorf district to a high of 3.3 in Hamburg-Mitte (Hamburg-Central). The number of business that shut down rose by 14 per cent by comparison with the same period a year ago. However, the company launches exceeded the number of shutdowns by 1,695 business registrations. According to Statistikamt Nord, the founding of a company – by contrast with a small business – is assumed when the legal form or number of employees indicates greater economic significance.