Institutions: Boosting Bavaria’s business community
It took a very few decades for Bavaria’s economy to transform itself from an agrarian backwater into one of the world’s great suppliers of high-tech products
and services. This fast-paced, broad-ranging development was produced by the entrepreneurial spirit shown and sustained by the state’s companies, which availed themselves of the support provided by Bavaria’ state government, by regional and local-level authorities, by municipalities, and by trade associations and by chambers of commerce when creating, producing, marketing and deploying their advanced offerings.
The state government’s job in turning Bavaria into a role model of economic growth encompassed the creation of a pro-business, pro-growth operating environment – the setting up by the state’s economics ministry of Invest in Bavaria. The agency works with regional and local business development authorities in securing investment in the state. These services incorporate the expertise and input forthcoming from banking and other trade association, and from chambers of commerce and of skilled trades. The strength of the state’s financial community is ascribable to this network of business development.