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Spain sees new businesses climb 10.2% in August

Source: Xinhua - Thu 9th Oct 2014
Spain sees new businesses climb 10.2% in August

The total number of new businesses created in Spain fell by 10.2% in August when compared with the same month in 2013, data published on Thursday by the National Institute of Statistics (INE) showed.

The INE reported that a total of 5,104 new businesses were created in August, which meant a 35.9% decrease on a month-to-month basis.

New businesses used a subscribed capital of EU262.9 Mln, which meant a 62.3% decrease in comparison with a year ago, while the average amount of capital stood at EU51,525, meaning a 58.1% fall when compared with a year earlier.

A total of 21.9% of the new businesses created in August belonged to the trade sector, while 14.8% belonged to the construction sector.

The INE said that a total of 1,120 businesses were dissolved in August which meant a 14% decrease year-on-year. Among them, 68.9% were dissolved voluntarily, 10.2% via mergers and 20.9% for other reasons.

Around 23.9% of the businesses dissolved belonged to the construction sector while 21.3% belonged to the trade sector.

The northeastern region of Catalonia registered the largest number of new businesses in August with 1,059, followed by Madrid and Andalusia that registered a total of 920 and 802 new businesses respectively.

Meanwhile, Madrid, Andalusia and Catalonia registered the largest number of businesses dissolved with 268, 176 and 121 respectively.

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