The number of self-employed persons in business services in Belgium reached 543,000 in 2023. This represents a slight increase from 2022, with a year-on-year variation of 0.74%. Analyzing the trend over the last five years, the compound annual growth rate (CAGR) stands at 0.91%, indicating modest growth in this sector. In comparison, the longer-term analysis since 2013 showed higher growth rates, peaking at a CAGR of 1.35% in 2013. However, the growth has gradually slowed, reflecting more stable increments in recent years.
Looking forward, forecasts for the next five years anticipate a slower growth trajectory, with a forecasted CAGR of 0.58% and an overall growth rate of 2.93% by 2028. This suggests a continued, albeit decelerated, expansion in the number of self-employed individuals within the business services sector.
Future trends to watch for include:
- Impact of economic policy changes on self-employment rates.
- Technological advancements facilitating increased entrepreneurship.
- Potential shifts in market demand for business services.
- Effects of global economic conditions on local self-employment trends.
