Startup Businesses in Bulgaria have a 45.16% 5 Year Survival Rate

Business | September 8, 2022, Thursday // 19:50
Bulgaria: Startup Businesses in Bulgaria have a 45.16% 5 Year Survival Rate @riseatseven.com

Data reveals 45.16% 5 year survival rate for businesses in Bulgaria

The pandemic created a make or break environment for many businesses over the past 2 years. From companies going bust, to new business opportunities rising for budding entrepreneurs, the past couple years have been pretty turbulent.

With this in mind, a new study by Paymentsense has revealed the best countries in Europe for a startup business, by analysing the following data points: 

  • Number of new businesses between 2015-2019
  • The most popular type of startup business
  • The city with the most new startup businesses
  • Percentage of startups located in the most popular city for businesses
  • Five year business survival rate in each country.

Ranked: The top 15 countries with the most startups in Europe

Rank

Country 

City with the most startups

Most popular type of startup in that country

Number of startups from 2015 To 2019

Percentage change in number of start up businesses between 2015 and 2019

1

France

Paris

Software

2,000,100

56.1%

2

United Kingdom

London

Fintech

1,755,035

1.1%

3

Spain

Barcelona

Software/SaaS

1,438,815

5.7%

4

Italy

Milan

E-Commerce

1,403,569

-0.7%

5

Poland

Warsaw

Software/SaaS

1,279,577

5.0%

6

Germany

Berlin

SaaS/Software

1,041,221

25.9%

7

Portugal

Lisbon

Information Technology

693,279

13.9%

8

Netherlands

Amsterdam

Software/SaaS

595,531

31.2%

9

Czechia

Prague

Artificial Intelligence

464,772

9.4%

10

Romania

Bucharest

Software

402,428

9.5%

11

Hungary

Budapest

Information Technology/Fintech

344,772

39.8%

12

Slovakia

Bratislava

Software/Internet Of Things

296,047

17.4%

13

Sweden

Stockholm

Software

255,865

-7.1%

14

Belgium

Brussels

Artificial Intelligence

219,533

22.0%

15

Bulgaria

Sofia

Software

205,253

-1.5%

Bulgaria is the 15th most popular country in Europe for startup businesses

Sofia in Bulgaria ranked as the 15th most popular city in Europe to build a startup business. In this city there were 205,253 startup businesses overall from 2015 to 2019, with a large number of startups in the Software sector. So it’s no surprise Sofia is among the most popular cities for startups!

Paris is home to over two million startup businesses and ranks as the most popular city in Europe for budding entrepreneurs to set up their business. From 2015 to 2019, there has been a 56.1% growth in the number of startups in the country. Software companies are the most prominent type of startup here, which is interesting considering the city is renowned for its fashion industry. 

The UK has been ranked as the second most popular city in Europe to build a startup business. Between 2015 to 2019 there were 1,755,035 startup businesses registered here, with just a 1.1% percentage change from 2015 to 2019 showing a slight increase in the number of startup businesses. It is no surprise that London is home to the most startups in the country! 

In third place, and home to some of Europe’s most astonishing architecture, is Spain. The city saw over 1,438,815 new startup businesses between 2015 and 2019, with a large proportion also being in the software and software as a service (SaaS) industries. 

Startup businesses in Bulgaria have a 45.16% survival rate in the first five years 

By analysing over 20,000 new startups on Eurostat and EU Startups, we discovered the countries across Europe with the highest five year survival rate for their startups. 

Rank

Country

City With The Most New Startups

5 Year Survival Rate

1

Malta

Valletta

78.73%

2

Sweden

Stockholm

60.84%

3

Netherlands

Amsterdam

57.65%

4

Belgium

Brussels

57.51%

5

Greece

Athens

56.00%

6

Luxembourg

Luxembourg City

55.80%

7

Slovakia

Bratislava

55.07%

8

Croatia

Zagreb

52.55%

9

Romania

Bucharest

51.79%

10

Cyprus

Limassol

51.15%

11

France

Paris

50.11%

12

Slovenia

Ljubljana

48.79%

13

Ireland

Dublin

48.38%

14

Czechia

Prague

47.77%

15

Austria

Vienna

47.41%

16

Switzerland

Zurich

47.09%

17

Hungary

Budapest

46.74%

18

Estonia

Tallinn

45.59%

19

Bulgaria

Sofia

45.16%

20

Finland

Helsinki

45.12%

For new startup businesses in Bulgaria, there is a 45.16% survival rate in the first five years, ranking Bulgaria in 19th.

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