Record High: Business Closures in Germany Hit a 10-Year Peak in 2024

Germany has always been a powerhouse in Europe’s economy, known for its strong industrial base and global exports. But 2024 has brought troubling news. The number of business closures in Germany reached its highest level in a decade, with 196,100 companies shutting down, according to a recent report by Creditreform and the Leibniz Center for European Economic Research (ZEW). This marks a 16% increase from 2023 and the highest figure since 2011, when the country was still recovering from the global financial crisis. For anyone running a business or planning to invest in Germany, this is a wake-up call. What’s driving this wave of closures, and what can we learn from it? Let’s break it down. This article, prepared by the journalists at TheMors , dives into the reasons behind the surge in business closures in Germany, the industries hit hardest, and what it means for the future. Whether you’re a business owner, an investor, or just curious about Germany’s economic landscape, here’s what ...