Despite the public health disaster and unprecedented economic damage caused globally by COVID 19, not all reports coming out of 2020 were negative.
Business numbers significantly increased in 2020
According to Business data analyst Bisnode registrations of new businesses in Switzerland were up around 5% and bankruptcy proceedings down by 19% from January to November spread fairly evenly across regions. This expansion is considered to be a result of financial measures implemented to support business affected by the pandemic, and this may have led partly to a postponement of problems and the promotion of “zombie” companies. However it is unclear how this will develop, and if the hoped for victory in the fight against the virus in 2021 will ameliorate any difficulties.
2020 Swiss real estate and rental values up
In 2020 Swiss property prices rose, contrary to forecasts. The Immoscout24 Index of Offers (in french), increased by at least 5.5% in 2020. According to Martin Waeber, Managing Director of ImmoScout24, COVID-19 has prompted many people to reassess their living situation. “In most cases, this thinking has led to a straightforward result: more space, more living space and, if possible, owning.”
However, during 2020 rents also increased by about 1.1% across Switzerland, despite the overall Swiss 2020 CPI inflation figure being negative. Unemployment and salary downgrades may still have a negative effect in 2021, but the long term trend as the result of a different, post COVID-19 mindset is unclear.
In 2020 Accurity experienced a significant increase in business volume and diversity, which we assess is due to disruptive change in the employment market, and a resulting flight to stability and quality in the Swiss employment services and payroll sector. It is clear to us that in today’s complex and diverse society it is very difficult to forecast the economic future, for better or for worse, during this pandemic, so flexibility and agility remain a top priority for businesses and individuals alike.
Accurity is a Swiss market leader in the leasing of contractors for temporary projects or assignments, thereby offering companies flexibility and agility, especially at this time. Since our launch over 22 years ago we have worked with thousands of client companies and contractors from all walks of life. Our team of experts is available to answer all your questions.
Contact us now: “We make Switzerland easy for you”