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

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. 

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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