The creation of new businesses in Spain experienced a slight decline of 0.8% in March compared to the same month in the previous year, totaling 10,596 new companies. This marks the lowest figure for March since 2020, according to data released by the National Statistics Institute (INE). The downturn in March follows a more significant drop of 20% in February, marking three consecutive months of decline in business formation.
Capital subscribed for the establishment of these new companies fell by 21.2% year-on-year, amounting to over 372.5 million euros. The average subscribed capital also saw a decrease, dropping by 20.5% to 35,157 euros. On the other hand, the dissolution of companies rose by 8.5% in March, with 1,984 companies closing their doors, equating to 64 businesses ceasing operations daily. A majority of these dissolutions, 81.9%, were voluntary, while 7.4% resulted from mergers with other entities.
By sector, real estate, financial, and insurance activities accounted for 19.8% of the new companies formed in March, followed by commerce at 15.8%. In terms of dissolutions, commerce led with 19.1%, followed by construction at 16%. The regions of Aragon, Castilla y León, and the Basque Country reported the highest annual increases in new business formations, while La Rioja, Catalonia, and Galicia experienced the most significant declines.
Despite the overall downturn, there was a 4.5% increase in the number of companies that expanded their capital in March, with 2,611 businesses undertaking such measures. The capital subscribed in these expansions exceeded 1,842 million euros, an 8.4% increase from March of the previous year, with the average capital per expansion rising by 3.7% to 705,481 euros. These figures highlight the complex dynamics of Spain's business landscape, with regional and sectoral variations playing a significant role in the overall economic picture.
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