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The strong economic growth in 2010 and the good situation on the labour market had no coherent impact on economically active start-ups and on young companies: In 2010, many start-ups were founded which would presumably not have been established during an economic crisis due to poor prospects of success. These start-ups were less innovative, had lower sales, and created fewer jobs than start-ups in the year before. Start-ups established before and during the financial and economic crisis benefited from the upswing. These are the main findings of the KfW/ZEW Start-Up Panel, presented by chief economist of the KfW Bankengruppe Dr. Norbert Irsch, head of the research department of Industrial Economics at the ZEW, Dr. Georg Licht, and head of the economic research department of Creditreform, Michael Bretz. read more
Many business ideas of newly founded companies were developed while the founders were employed at private companies. New start-ups based on such ideas are considerably more innovative than other start-ups. Moreover, they produce a considerably higher percentage of market innovations. This is one of the main findings of the latest KfW/ZEW Start-Up Panel, which is conducted by KfW Bankengruppe in cooperation with the Centre for European Economic Research (ZEW), Mannheim, and the credit rating agency Creditreform. read more
Young firms in Germany have coped considerably well with the economic crisis. Their turnover and profit situation proved stable and, according to the firms, will improve next year. "Young firms consider themselves well positioned after the economic and financial crisis. The positive profit expectations for 2010 confirm this. The firms have actively faced the crisis and have concentrated on their strengths by adjusting their products to their clients’ demands. At the same time, young firms have invested less then they had planned due to financing problems," says Dr. Axel Nawrath, member of Managing Board of KfW Bankengruppe, today at the press conference on the "KfW/ZEW Start-up Panel 2010" in Frankfurt. The third KfW/ZEW Start-up Panel, a cooperation of KfW Bankengruppe, the Centre for European Economic Research (ZEW) Mannheim and credit rating agency Creditreform, analyses the development of economically active start-ups since their foundation. read more
The financial and economic crisis also affects start-ups and young firms.48 percent of young firms in Germany stated that they were affected by negative consequences of the economic and financial crisis in the early summer 2009. The order situation (41 percent report less orders) and turnover and profit situation (43 percent and 40 percent report a worse situation) were particularly affected. These are the findings of the KfW/ZEW-Gründungspanel, which tracks start-ups from their foundation and reports their development over time. The findings of a second survey including start-ups of the years 2005 to 2008 were presented today by KfW, ZEW and Creditform representatives in the KfW Bankengruppe in Frankfurt. read more
The Centre for European Economic Studies (ZEW) in cooporation with the KfW Bankengruppe (KfW banking group) and the Business Information Service Creditreform presented a new panel of business start-ups. Up to now, the long-term development of firm foundations has only been studied peripherally. The scientific knowledge about the dynamics of high-tech start-ups was especially underdeveloped. In order to set frameworks for company founders up, it is essential to focus on an empirically established, extended, and continually updated state of knowledge. read more