In 2024, Cyprus saw more companies being set up than shutting down, with 9,152 new enterprises launched against 5,566 closures, according to Eurostat business demography data published on Thursday.
Cyprus figures
The island’s enterprise birth rate stood at 9.70 per cent, while the provisional enterprise death rate was 5.90 per cent, meaning business creation outpaced business failures.
This placed Cyprus slightly below the EU average for new business formation, but with a markedly lower rate of closures than the bloc overall.
European Union
Across the European Union, around 3.54 million enterprises were created in 2024, giving an enterprise birth rate of 10.36 per cent. A provisional 3.14 million enterprises ceased trading, corresponding to a death rate of 9.20 per cent. In total, the EU had approximately 34 million active enterprises in 2024, with roughly 3.5 million born and 3.1 million dying during the year.
