Malta With 2nd Most New Businesses ‘Born’ In EU 2023

Malta recorded the second-highest rate of new business creation in the European Union in 2023, according to Eurostat.

The island registered an enterprise birth rate of 17.1%, just behind Lithuania’s 19.6%, and well above the EU average of 10.5%.

In total, 7,372 new enterprises were established in Malta during the year, compared with 5,478 closures.

These figures underline Malta’s dynamic business environment and its continued capacity to attract investment and entrepreneurial activity despite broader economic pressures across Europe.

Across the EU, more than 33 million enterprises were active in 2023. Of these, around 3.5 million were newly created, while 2.8 million ceased operations.

The overall EU enterprise death rate stood at 8.5%. Most member states reported more start-ups than closures.

Countries such as Bulgaria, Denmark, Germany, Estonia, Ireland, Poland, and Slovakia were the exceptions, with enterprise deaths outnumbering births.

Estonia recorded the highest death rate at 27.5%, followed by Ireland at 16.6% and Bulgaria at 16.5%.

Eurostat also reported that the share of high-growth enterprises in the EU rose to 10.5% between 2020 and 2023, equivalent to around 180,000 firms achieving sustained employment expansion during that period.

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Photo Source: Andrea Piacquadio (Pexels)