Siena experiences significant decline in youth entrepreneurship

The province of Siena is facing a structural economic shift characterized by a significant loss of businesses, particularly those led by young people. Data presented during the ‘Siena 2030’ Economy Day reveals that the province has seen over 1,900 businesses disappear in the last decade, representing a 6% contraction in total registered activities.

Youth-led enterprises have seen the sharpest decline, dropping by 27.8% over ten years. Traditional sectors such as manufacturing, commerce, and agriculture have all lost substantial numbers of businesses. In contrast, the service sector has shown growth, adding 574 activities.

Demographic challenges, including low birth rates and an aging population, are complicating generational turnover. However, businesses led by foreign citizens have trended upward, increasing by 37.2% over the last decade, while Italian-led businesses decreased by 10.2%.