However, the number of closures also rose and came to 738 in Q1 of 2024 – a rise of 12 per cent over the same period in 2023. Despite the increase, the balance of start-ups and closures remains positive, with a net gain of 808 new companies.
1,546 new businesses in Q1 of 2024
A record 1,546 new start-ups were set up in the first quarter of 2024 across Hamburg. The rise comes to almost 2 per cent over the same period in 2023 and is the highest quarterly figure since surveys began in 2008, according to the Statistics Office North.
Momentum in corporate activities
Regional differences
The start-up ratio per district (Hamburg population register: 31 December 2023) differs vastly. On average, there were 0.8 business start-ups per 1,000 inhabitants. Hamburg-Mitte had the highest start-up rate with 2.0 per 1,000 inhabitants, while Bergedorf, Harburg and Wandsbek had a rate of 0.4 respectively. The development in Hamburg-Nord was particularly remarkable, where the number of new start-ups rose by an impressive 77 per cent in one year.
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Sources and further information
Start-ups
New businesses refer to newly-registered start-ups that are of major economic significance due to their legal form or number of employees. That includes business registrations by legal entities or partnerships. Businesses founded by natural persons that are entered in the commercial register, employ staff or have a craft licence also fall under this category.
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