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Business creation soars by 16% in October, with 8,291 new companies

MADRID, 14 Dic.

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Business creation soars by 16% in October, with 8,291 new companies

MADRID, 14 Dic. (EUROPA PRESS) -

The number of new commercial companies shot up 16% in October compared to the same month in 2022, reaching a total of 8,291 companies, according to data released this Thursday by the National Institute of Statistics (INE).

After the decrease registered in September, of 1.5%, the creation of companies returns to the promotions in the tenth month of the year.

For the constitution of the 8,291 companies created last October, just over 335 million euros were subscribed, 74.5% more than in the same month of 2022, while the average capital subscribed, which stood at 40,455 euros, increased 50.5% year-on-year.

While the creation of companies increased, the dissolution of companies was reduced in October, 2% compared to the same month in 2022, to a total of 1,884. In this way, every day of the month of October 61 companies closed their doors in Spain.

Of the 1,884 companies that closed last October, 75.9% did so voluntarily, 14.8% due to a merger with other companies and the remaining 9.3% for other reasons.

19.5% of the commercial companies created in the tenth month of the year were dedicated to commerce and 17% to real estate, financial and insurance activities.

Regarding companies dissolved by main economic activity, the highest percentages are in commerce (19.3%) and construction (14.6%).

For its part, the number of commercial companies that increased capital increased by 3.9% in October, up to 2,125 companies. The capital subscribed in these increases exceeded 1,308 million euros, 6.6% lower than in October 2022, while the average capital was 615,946 euros, 10% less.

In the first ten months of the year, 10.6% more companies have been created than in the same period of 2022. For its part, the number of dissolved companies has decreased by 2.2% until October.

In monthly terms (October over September), the incorporation of new companies increased by 23.1%, while dissolutions increased by 51.3%.

MADRID AND CATALONIA LEAD THE CREATION OF BUSINESSES

The communities that created the greatest number of companies last October were Madrid (1,986), Catalonia (1,662) and Andalusia, where 1,444 companies were created. The regions that formed the fewest companies in the tenth month of the year were La Rioja (18), Navarra (45) and Cantabria (63).

Fifteen regions created more companies in October than in the same month of 2022, especially Asturias (43.8%), Extremadura (33.3%) and Castilla-La Mancha (32.4%).

On the other hand, two communities registered year-on-year decreases, mainly La Rioja, where 33.3% fewer companies were created than in October 2022, and Navarra (-13.5%).

Looking at dissolved commercial companies, the communities with the highest number of dissolutions in October 2023 were Madrid (727), Andalusia (270) and Valencian Community (129). On the contrary, the autonomous communities with the fewest dissolved commercial companies were Navarra (2), Cantabria (20), and La Rioja and the Region of Murcia (23, both).

Five communities increased their number of business dissolutions last October in an interannual rate, mainly La Rioja (64.3%) and Castilla y León (31.9%), another ten reduced it, especially Navarra (-77.8% ) and Murcia (-36.1%), and only two regions, Cantabria and Asturias, did not experience any variation compared to October of last year.

Keywords:
INE