Danish business closures decline in 2024

The number of business closures in Denmark has been lower and more stable in 2024. In August, 214 active businesses shut down, resulting in 974 job losses. This data comes from a seasonally adjusted survey by Statistics Denmark. Brian Friis Helmer from Arbejdernes Landsbank notes a noticeable reduction from 2023, attributing this to decreasing inflation, falling interest rates, and the repayment of coronavirus loans nearing completion. The survey considers businesses with more than one employee and a minimum turnover of one million kroner. From January to August, bankruptcy figures were 18% lower than the same period last year. Kristian Skriver from Dansk Erhverv observes a stable level, comparable to pre-COVID years, and does not expect significant changes for the rest of the year. Post-inflation optimism is on the rise among businesses, with increased expectations for revenue in construction and production in industry, and a decent level of expectations in the service sector.