In monthly rate, com­pany star­t-ups in­creased by 24.8%

Spanish Business Creation Soars 61.8% In March To Its Highest Figure In Almost 13 Years

Business creation in Spain.
Business creation in Spain.

The number of new com­pa­nies re­gis­tered its hig­hest yea­r-o­n-­year in­crease in March since 1995, when the his­to­rical se­ries be­gan, with growth of 61.8%, to a total of 10,968 new firms. This is the hig­hest fi­gure in al­most 13 years, ac­cor­ding to data re­leased by the National Statistics Institute (INE) and re­ported by Europa Press.

With this year-on-year increase in March, the number of new companies created has now been positive for two consecutive months, after having risen by 3.1% in February.

It should be borne in mind that this year’s March figures are based on March 2020, when everything was closed from the middle of the month due to the state of alarm and the lockdown.

In the hardest months of the pandemic, business start-ups recorded historic falls, especially in April 2020, when they fell by 73%.

According to INE data, the number of companies liquidated last March was 2,121, 44.3% more than in the same month in 2020. Thus, every day in March, an average of 68 companies closed in Spain, in contrast to the figure for February (89 companies disappeared per day).

In monthly rate (March over February), company start-ups increased by 24.8%, their highest rise in a month of March in at least five years, while business dissolutions fell by 15.2%, registering their smallest decline in this month since 2017. About 22% of the companies created in March are devoted to commercial activities , while 14.8% to real estate, finance and insurance.

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