Business creation registers its best October since 2006 with 10,679 new companies

The number of new companies rose 28.8% in October compared to the same month of the previous year, reaching a total of 10,679 companies, this being its highest figure for the month of October since 2006, according to data published by the National Institute of Statistics (INE). With the year-on-year rebound in October, the creation of commercial companies has seen four consecutive months of increases, although that of the tenth month of the year has been much more pronounced than that of September (+19.3%), July (+17%) and August (+3.9%).

For the creation of the 10,679 companies created in October, more than 391.1 million euros were subscribed, which represents 16.6% more year-on-year, while the average capital subscribed, which stood at 36,620 euros, fell by 9. 5%.

For its part, the destruction of companies increased by 14.3% year-on-year in the tenth month of the year, with 2,153 companies disappeared, which is the highest figure in a month of October since the beginning of the series, in 1995, although the The majority were closed voluntarily, which means that 72 companies were closed every day in October.

Specifically, of the 2,153 companies that were dissolved in October, 75.9% did so voluntarily. 17.2% of the commercial companies that were created in October were dedicated to commerce and 16.1% to real estate, financial and insurance activities. Regarding the dissolved companies by main economic activity, 18.4% belonged to commerce and 15.3% to real estate and financial activities.

For their part, of those that managed to increase their capital, it increased by 14.6% in October in an interannual rate, up to 2,437 companies. The equity subscribed in these increases exceeded 1,601 million euros, 22.4% higher than in October 2023, while the average capital was 657,351 euros, 6.8% more.

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In the first ten months of the year, the number of companies created has increased by 8.5%, while the volume of companies dissolved has decreased by 1.7%. In monthly rate (October over September), the incorporation of companies shot up by 32.9%, while dissolutions rose by 54.8%.

The autonomous communities that created the greatest number of companies in October were Madrid (2,621 companies), Catalonia (2,003) and Andalusia, where 1,857 companies were created. The regions that formed the fewest companies in the tenth month of the year were La Rioja (42) and Cantabria (77). According to Statistics, all the autonomous communities created more companies last October than in the same month of 2023, highlighting Navarra (+144.4%), La Rioja (+133.3%), Aragón (+59.2% ) and Extremadura (+52.5%).

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Business creation registers its best October since 2006 with 10,679 new companies