The creation of companies shoots up 13.9% in May, with 10,404 new companies, a record since 2008

MADRID, 7 Jul. (EUROPA PRESS) -

The number of new commercial companies shot up 13.9% last May compared to the same month in 2022, reaching a total of 10,404 companies, its highest figure in a fifth month of the year since 2008, according to data released this Friday by the National Statistics Institute (INE).

With the rise in May, the creation of companies chains five consecutive months of promotions, although that of January has been the highest of those registered until the fifth month of the year.

For the constitution of the 10,404 companies created last May, just over 360 million euros were subscribed, which is 4.3% less than in the same month of 2022, while the average capital subscribed, which stood at 34,604 euros, decreased by 16% year-on-year.

While the creation of companies increased, the dissolution of companies decreased in May, 1.6% compared to the same month in 2022, to a total of 1,702. In this way, every day of the month of May, 55 companies closed their doors in Spain.

Of the 1,702 companies that closed last May, 82.7% did so voluntarily, 6.2% due to a merger with other companies and the remaining 11.1% for other reasons.

18.6% of the commercial companies that were created in the fifth month of the year were dedicated to commerce and 16.7% to real estate, financial and insurance activities.

As regards dissolved companies by main economic activity, the highest percentages are also found in commerce (20.1%) and construction (16.2%).

For its part, the number of commercial companies that increased capital increased by 11.8% in May, to 2,745 companies. The capital subscribed in these increases reached 1,577.1 million euros, a figure 0.4% higher than that of May 2022, while the average capital was 574,561 euros, 10.2% less.

In the first five months of the year, just over 50,000 companies have been created, a figure 10% higher than that of the same period in 2022. For its part, the number of dissolved companies has increased by 0.9% up to May.

MADRID AND CATALONIA LEAD THE CREATION OF COMPANIES

The communities that created the greatest number of companies last May were Madrid (2,216 companies), Catalonia (2,046) and Andalusia, where 2,029 companies were created. The regions that incorporated the fewest companies in the fifth month of the year were La Rioja (36), Navarra (75) and Cantabria (77).

Fifteen regions created more companies in May than in the same month of 2022, especially the Basque Country (34.1%), Andalusia (31.4%) and the Valencian Community (20.9%).

Among the decreases, the most pronounced were recorded by Navarra (-10.7%) and Galicia (-3.2%).

Considering the dissolved commercial companies, the communities with the highest number of dissolutions in May 2023 were Madrid (495), Andalusia (293) and Catalonia (165). On the contrary, the autonomous communities with the fewest dissolved mercantile companies were Navarra (7), La Rioja (11) and Asturias (14).

Seven communities increased their number of business dissolutions last May in the interannual rate, mainly the Balearic Islands (49.1%) and Castilla-La Mancha (42.3%), and nine reduced them, especially Asturias (-60%) , Cantabria (-42.3%) and La Rioja (-35.3%).

In monthly terms (May over April), the incorporation of new companies shot up 20.7%, the highest rate since November 2022, when it stood at 21.9%.

For its part, the number of business dissolutions increased by 10.5% in May compared to the previous month.