Hubert Aiwanger, Bavarian State Minister for Economic Affairs, Regional Development and Energy, hopes for more start-ups in Bavaria despite the strong economic situation and promises founders even more support in their ventures in the future. His goal: to make Bavaria the number one startup region in Europe.
According to current figures from the Bavarian State Office for Statistics, the number of corporate insolvency proceedings filed in 2018 fell by 4.5 percent compared to the previous year. However, the number of new business start-ups in Bavaria also fell by 0.4 percent during this period. Bavaria's Minister of Economic Affairs Hubert Aiwanger comments in detail on the current figures and emphasizes that the chances of starting your own business are particularly good during economically stable times:
"The economy is stable, which is why we are once again experiencing fewer bankruptcies. For example, the number of corporate insolvencies was 4.5 percent lower than the corresponding figure for the previous year. Our companies are active, robust, and thanks to our solid equity base, Bavaria's economy has a good cushion in the event of economic downturns. It is our job in politics to do everything we can to ensure that we maintain the favorable framework for the economic situation. Our companies are stable, but we need more new start-ups. That's why we have our Baystartup program, which is one of the most important contact points in Bavaria for startups seeking capital. This network specifically targets growth-oriented startups, investors, and industrial companies with its offerings."
In the 2018 financial year, Baystartup 62.7 million euros of capital in 50 financing rounds between 50,000 and 6 million euros.
Founding country Bavaria at the top of Europe
Aiwanger continues:
"We have set ourselves ambitious goals: Bavaria is to become the number one startup region in Europe. With our Gründerland.Bayern initiative, we want to further improve the framework conditions for business start-ups in Bavaria and thus address the challenges of the future. We are investing a total of over €330 million between 2015 and 2020 in this initiative alone. We are also focusing on startup centers in the area of digitalization. Starting this year, we will establish an additional digital startup center in each administrative district outside of the metropolitan areas. These will fit perfectly into our startup landscape."
Take the step into self-employment now
Aiwanger also discusses the connection between the number of start-ups and the economy:
"When the economy is booming, fewer people dare to take the step into self-employment. But it's precisely in such a situation that the starting points for new, fresh ideas are particularly good. Those who venture into self-employment or earn some extra money through commercial activity are stimulating the economy and can count on our support."
