Every year, our analysts publish a statistical note on the business demographics in the Brussels-Capital Region. The report analyses business creations, closures, bankruptcies, relocations and entrepreneurial trends in order to gain a better understanding of the evolution of Brussels’ economic fabric.
A sharp rise in business creations, boosted by the reform of access to professions
In 2024, the Brussels-Capital Region had 122,725 VAT-registered businesses, representing a 3.1% increase in one year. This growth exceeded the national figure (+1.7%), confirming the return of strong entrepreneurial momentum in the capital.
This recovery is primarily due to a sharp rise in the number of business creations. With 15,235 new businesses set up in 2024, Brussels has seen a 27.3% increase compared with 2023. This can be partly explained by the recent reform of the rules governing access to professions, which removes the requirement to demonstrate basic management skills and encourages entrepreneurs to set up their own businesses.
A net increase of more than 4,000 businesses in one year
Whilst business closures are also on the rise, the rate of increase remains significantly more moderate than that of new business creations. As a result, the net number of creations reached 4,066 new businesses, compared with just 1,649 in 2023 – an increase of nearly 150% in one year. This development stands in stark contrast to the trend seen at national level, where net creations are falling.
Construction and transport driving growth
However, not all sectors are contributing equally to this recovery.
The construction sector is one of the main drivers of entrepreneurial growth in Brussels. The number of business creations here has more than doubled compared with 2023 (+118%). Transport (primarily passenger transport) has also seen particularly strong growth (+65%).
Hospitality, which has been hit hard in recent years, is showing encouraging signs of recovery, with new business creations on the rise (+15%) whilst business closures are falling (-9%).
The retail sector is also seeing more new business creations than a year ago (+23%). Whilst the sector is still showing a negative balance of net new businesses, this has improved significantly compared with 2023.
Bankruptcies on the rise, but still below pre-crisis levels
However, improving the entrepreneurial climate does not mean that difficulties have disappeared.
In 2024, Brussels recorded 1,923 bankruptcies, representing a 14.5% increase compared with the previous year. The retail, construction and hospitality sectors remain the hardest hit.
Despite this increase, the number of bankruptcies remains below the level seen before the health crisis, which puts this analysis into perspective and highlights the resilience of Brussels’ economic fabric.
Rise in business arrivals as migration deficit halved
The Region also remains the main hub for business relocations in Belgium.
In 2024, the number of businesses relocating to Brussels rose by 20.5%, mainly from Flanders. Whilst the net migration figure remains negative, it has halved compared with the previous year. This trend confirms the capital’s appeal to entrepreneurs and reinforces its role as a major gateway for the country’s economic activities.
