Big surge in new business startups

The number of new businesses in Sweden increased 16.4 percent in the first five months of 2010, compared to the same period last year, new statistics have revealed.

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For the first time in years, the number of new businesses grew in all of Sweden's counties, according to statistics compiled by business software company Visma Spcs from the Companies Registration Office (Bolagsverket).

"It is gratifying that the number of new businesses is increasing so much," said Visma Spcs CEO Rolf Dahlberg. "This is proof of the positive developments that began last fall. The figures are even a bit better than the forecast we made for the full year. That is exactly what the country needs."

In May alone, the increase was 46.9 percent compared with the same period last year. The bulk of the increase came from newly registered limited companies (aktiebolag). Last month, 98.2 percent more new companies were registered than in May 2009.

The reduced requirements for capital investment in companies starting on April 1st could be part of the reason behind the increase. For the first time in years, all counties reported a positive development in new businesses.

However, the regional differences are large. In May, the growth of new businesses in Jämtland was highest, more than doubling compared with last year, followed by an 88.4 percent increase in Södermanland and 82.9 percent rise in Västmanland.

In all of Sweden, 6,030 new businesses were established, mostly limited liability companies, sole proprietorships, partnerships or limited partnerships. That compares with 4,104 in May 2009.

Since January, 27,093 new companies have registered with Bolagsverket, compared with 23,283 in the same period last year.