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Spain's new businesses increase 7.1% in 2013

Source: Xinhua - Wed 12th Feb 2014
Spain's new businesses increase 7.1% in 2013

The total number of new business created in Spain rose 7.1% in 2013 in comparison with 2012, the biggest increase since the economic crisis started in Spain according to latest data published on Tuesday by the National Institute of Statistics (INE).

The INE reported that a total of 93,363 new businesses were created in 2013, with the regions of Madrid and Catalonia registering the highest number of new businesses in 2013 with 19,657 and 17,708 new businesses respectively.

The region of La Rioja and Cantabria created the lowest number of new businesses with a total of 410 and 798 new businesses created respectively.

According to the INE, businesses created in 2013 used a subscribed capital of €6.716 Bln, which meant a 12% fallwhen compared with 2012. The average amount of capital stood at €71,934, 17.8% less than in 2012.

The INE reported that 22.5% of the total businesses created in 2013 belonged to the trade sector, while 18.9% were from the construction sector.

Meanwhile, a total of 24,735 businesses were dissolved in 2013, which meant 9.1% more than in 2012. Of the total, 17,198 businesses were dissolved voluntarily, 2,004 via mergers and 5,533 for 'other reasons'.

22.7% of the total businesses dissolved in 2013 belonged to the construction sector and 20.3% of them to the trade sector.

The regions of Madrid and Andalusia (in the south of Spain) saw the highest number of businesses dissolved with a total of 5,617 and 3,679 businesses that came to an end respectively, while the regions of Navarra and La Rioja saw the lowest figure of dissolutions, 181 and 248 respectively.

Business creation had fallen for three consecutive years by 3.9%, 27.8% and 24.5% in 2007, 2008 and 2009 respectively.

However, it started increasing in 2010 when the creation of new business rose by 2.3%, to continue growing by 6% and 2.8% in 2011 and 2012 respectively.