A total of 50,015 businesses were established in Switzerland in 2022 due to a surge of new companies in the fourth quarter.

However, this annual total marks a 1% decline compared to the previous year and a 7% rise compared to 2020. This is according to commercial register data provided by Help.ch, published on Tuesday.

The statistics from 2022 also show a 27% increase in new businesses opening up in Switzerland compared to a decade ago, when 39,371 businesses were founded in 2012, Swiss Info reports. The report highlighted that the result is "positive and reinforces our image of a dynamic and productive Swiss economy" in 2022 and prior years.

Solely last month, 4,897 new businesses were established in the country, an 18% rise over November and a 1% decline compared to the year before.

Nevertheless, there was also a rise in the number of companies closing down in Switzerland in 2022, as per findings from the Dun & Bradstreet research group. A total of 4,349 firms had declared bankruptcy by the end of November, representing a 21% rise compared to the previous year.

Furthermore, there have been indications of improved sentiment regarding the Swiss economy within separate corporate data, the Swiss Info report adds.

The Swiss purchasing managers' index (PMI) published by Credit Suisse and Procure.ch on Tuesday stands over the 50-mark – separating growth from contraction – and the downward trend has decelerated. Swiss industry remains robust, the findings showed, highlighting the strength of the country's labour market, whilst the service sector has fallen under the growth threshold.