Company foundation figures contradict midlife crisis claims

New figures debunk myths that businesspeople in Vienna are in midlife crises.The city’s Economy Chamber (WKW) said today (Weds) that, with 21 per cent, more than one out of five people were aged 45 and older when they decided to set up their own companies last year. The organisation explained that the share of those people was just 18 per cent 10 years ago.The WKW pointed out that the “generation 45 plus” was responsible for nearly 1,500 foundations in 2010.The news comes shortly after the WKW revealed that around 2,900 of the 5,700 firms which were set up in the city in 2010 altogether were headed by foreigners. More than four in 10 bosses of newly established businesses were female, according to statistics.Vienna is one of the few Austrian regions which experienced unemployment rate increases in the past months. The city’s joblessness rate rose by 6.1 per cent from May 2010 to the same month of this year. Six of Austria’s nine provinces recorded decreases at the same time.The overall unemployment rate shrank by 2.5 per cent. Fewer than 288,000 people living in Austria had no job last month.Austria weathered the crisis better than most of the European Union’s (EU) 26 other member states as far as labour market developments are regarded. The country’s unemployment rate ranged between four and five per cent in the past few months. Only the Netherlands did better at times.