Thousands of larger economic-importance businesses went out of business in the first half of this year. The Federal Statistical Office recorded 50,600 completed tasks in this area, representing a 12.4% increase over the first half of 2022. At the same time, a number of new businesses were established.
In the first six months of the year, 246,500 trades were abandoned, according to the total number of businesses. This was a 14% increase over the first half of 2022. Simultaneously, the Federal Statistical Office recorded 62,700 larger company start-ups in the first half of the year. Including small and part-time businesses, the number of business start-ups was 317,600, a ten percent increase over the previous year.
In July, the number of corporate insolvencies increased significantly. According to the Federal Statistical Office, nearly a quarter (23.8 percent) more companies than in the same month last year applied for standard insolvency proceedings. In June, there had already been a nearly 14 percent increase. Since August 2022, the number of corporate insolvencies has been steadily increasing.
Only after the first decision of the insolvency court do the proceedings appear in the statistics. As a result, the actual time of the insolvency application is often three months earlier, according to the authority.
In the month of May, “the German district courts reported 1,478 corporate insolvencies, 19 percent more than in the same month last year. The local courts put the claims of the creditors at almost four billion euros. In May 2022 it was almost 2.2 billion euros.”
“Most insolvencies per 10,000 companies were in the transport and warehousing sector with 8.7 cases, followed by other economic services, such as temporary employment agencies, with 7.4 cases. There were fewer insolvencies in the energy supply sector.”