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Small Businesses Increase in number on 2010

Fri 13th Jan 2012
Small Businesses Increase in number on 2010

Despite continued messages of gloom in many newspapers, the National Institute of Statistics (INE) had some encouraging news to report.

The number of new businesses created in November of last year grew by 8.4% compared with November of the previous year, to reach 7'245.

However, the reported capital of such new businesses was down 30.7% year-on-year, reaching 387 Million Euros, with the average subscribed capital for each new business falling 36.1% to reach 53'449 Euros, with 16.5% of all limited companies - 2,923 - increasing their capital in November 2011.

The month also brought at total 1,680 companies being wound-up, a 4.9% increase on 2010, with 72.2% going into voluntary liquidation, 10.5% merging with other companies and the remaining 17.3% for other reasons.

The number of Sociedad Anónima (SA) - the Spanish equivalent of a British public limited company (PLC) - being created fell by 29.9%, while the number of Sociedad de Responsabilidad Limitada (SL) - the Spanish equivalent of a British limited company - increased 8.9%. The number of PLCs increasing their capital fell by 7.8%, with the number of limited companies growing their capital increasing by 19.4%.

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