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Vienna (pte052/29.01.2003/15:27) - The number of new companies being created in Austria has gone down in the face of difficult economic conditions. A total of 27,738 new companies were founded in 2002, a rise of 6.5 per cent on 2001. However, the rate at which new companies are being created has slowed down. The President of the Economics Chamber http://www.wk.or.at/, Christoph Leitl, conceded that the number of new companies had fallen short of the 30,000 target.
In a survey by the Fessel-Gfk Institute http://www.gfk.at/, founders of new companies said that financing and bureaucracy were the main obstacles they had had to face. Leitl said that it was easier to get credit to furnish a new flat than to create a new company. Twenty-nine per cent of new companies were founded in the trading sector, followed by 27.6 per cent in the information and consulting sector. However, ninety-five per cent of all companies in Austria survive for at least five years compared with the 60 per cent EU average.
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