Creation of companies grows strongly in Spain, latest data show

The Spanish economy continues to deliver positive signs in its statistical indicators, although the latest figures released by the National Institute of Statistics (INE) still do not reflect the effects of the invasion of Ukraine and the subsequent sanctions imposed on Russia.

On Tuesday, the INE released the latest figures for the creation of companies in February 2022, the month in which the Russian attack on its neighbor began.

According to the statistical office, in February 9,237 commercial companies were created in Spain, which is 5.1% more than in the same month of 2021.

This is the highest growth in business creation registered in a month of February since 2019, that is, since the outbreak of the global Coronavirus pandemic.

The rise in the creation of companies in February, which represents the fourth consecutive increase, is also higher than that of January, when the incorporation of commercial companies increased by 4.9% year-on-year.

Higher investment

Not only does the number of companies increase, but also the capital invested in their creation.

According to INE data, the total capital subscribed in February for the establishment of new companies exceeded 709 million euros, with an annual increase of 18.6%. The average capital subscribed (76,802 euros) also rose by 12.8%.

By main activity sectors, 19.1% of the companies created in February were engaged in commerce, and 16.7% in real estate, financial and insurance businesses.

Dissolved companies

In February, the number of dissolved companies also decreased. 

According to the INE, in Spain 2,430 companies were dissolved in that period, which is 2.9% less than in the same month of the previous year. Of these, 82% did so voluntarily, 8.5% by merger and the remaining 9.5% due to other causes.

As for the dissolved companies, 22.1% were dedicated to commerce and 17.5% to construction activities.