The Viennese economy is in a startup mood: According to the Vienna Chamber of Commerce, 5,170 new companies were founded in Vienna in the first half of 2024 alone: a high number of new companies founded since 1993. This positive development for the location is also reflected in the high demand for funding from the business agency Vienna reflected: From January to July 2024, 1,618 Viennese companies applied for funding, 744 of which were founders and startups. More than half of the projects submitted have a climate aspect.
“A competitive and sustainable economy depends on fresh ideas and bold initiatives. The interim results now available are not only a positive sign of the high resilience of the Viennese economy, but also an important signal to face economically difficult times with courage and inventiveness. The increase of 38 percent in projects submitted compared to the first half of 2023 shows that our support is working and is producing concrete solutions to strengthen Vienna’s economy. The increase in companies wanting to implement climate protection projects in Vienna is particularly encouraging. This shows that companies have understood our most important message – both are possible in Vienna: doing business successfully and protecting the climate,” emphasizes City Councilor for Economic Affairs Peter Hanke.
Implementing sustainability strategically – tips for everyday business life
In order to be successful in the long term today, companies must design their business models to be climate-friendly. More and more companies are also subject to the reporting obligation of the EU Directive on sustainability aspects (Corporate Sustainability Reporting Directive). An example of a company that focuses on sustainability is the vintage company “uppers & downers”, which is supported by the Vienna Business Agency. Together with the managing director of the Vienna Business Agency, Gerhard Hirczi, City Councilor Hanke paid a visit to the shop at Burggasse 46.
The Vienna Business Agency has long since responded to the increasing importance of sustainability and, since 2023, has been offering offers tailored to climate and environmental issues that have been well received: By the end of July, 88 entrepreneurs had received further training in the impact workshops and coaching. “As products and business relationships become more complex, the risk of negative consequences for the environment and society also increases. Only if entrepreneurs know the impact of their business model right from the start can they avoid harmful consequences. We therefore support business owners in setting up their business for economic success and at the same time making a contribution to positive change,” says Gerhard Hirczi, Managing Director of the Vienna Business Agency.
A realistic sustainability assessment is crucial for the development of climate-friendly business models – tips for implementation:
- Precise planning: 80 percent of a product’s ecological footprint is determined in the design phase, estimates the Joint Research Center. It is therefore worth formulating your company goals in detail right from the start and taking your time for them. The SMART formula helps: Goals should be specific, measurable, attractive, realistic and time-bound.
- Observe and adapt: Regular analyzes of the value chain make it possible to determine the actual ecological and social impacts. Partners and suppliers should be involved in the sustainable procurement strategy from the start. Based on the insights gained, companies can then sensibly adapt their strategies.
- Measure: Only what is measurable and comparable can be demonstrably improved. The CO2 footprint should be calculated in the conception phase and an impact logic should be created. Based on the data, companies can set sensible activities and also argue for them – for example, training employees in resource-efficient use or entering into new partnerships with sustainable suppliers.
Free workshops and consultations for companies and founders
In order to delve deeper into the subject, the Vienna Business Agency offers free impact workshops for Viennese founders and companies. The participants deal with climate-friendly business models and learn about helpful tools such as value chain and product life cycle analyzes or greenhouse gas emission calculations and impact logic. Four-hour impact coaching sessions for founders and sustainability consultations are also offered. More information about funding and offers at: https://wirtschaftsagentur.at/
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