Number of newly incorporated companies up 11% so far this year in Spain

companies general

A study prepared with data from the Mercantile Register by Axesor’s economic research bureau indicates that in March this year a total of 11,946 mercantile companies were set up in Spain, compared to the 11,224 created in March the previous year. This represents a growth of 6.4% compared to the same month last year. Axesor points out that “the Spanish economy is resisting both inflationary pressures and the uncertainty generated by the war between Russia and Ukraine”.

And in this regard, the authors of the report recall that “in fact, the Bank of Spain revised its forecasts a few days ago and has raised the growth projection for our country to 1.6%”.

The study reveals that the Community of Madrid is, for yet another month, the leading Spanish autonomous region in terms of company start-ups, with a total of 2,778 new companies in March, 8.3% more than in the same month in 2022. Andalusia climbed to second place, with 2,171 new companies, 17% more, while Catalonia registered 2,047 new companies, a fall of 6.3%.

On the other hand, the Asexor Business Radar shows that the number of insolvency proceedings fell by almost 34% in the first quarter of the year compared to the same period last year. Last month, a total of 309 companies filed for insolvency proceedings, 44.2% less than in March 2022. This brings the total number of insolvency proceedings registered in the first three months of the year to 988.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.