hit tracker
Saturday, June 10, 2023
HomeLatest NewsThe creation of companies rises 6.6% in November despite the economic slowdown

The creation of companies rises 6.6% in November despite the economic slowdown

Date: June 10, 2023 Time: 14:16:45

The creation of companies left behind the slump of October (when it fell by 2.7%) and returned to register an advance in the month of November, of 6.6% in relation to the same month of 2021, still very marked by the effects of the coronavirus pandemic. COVID-19. The data published this Tuesday by the National Institute of Statistics (INE) reveal how the capital used to set them up rose sharply, almost 35% to 848 million euros.

This greater dynamism in the creation of companies occurred despite the economic slowdown -forecasts suggest that activity remained stagnant or fell slightly in the fourth quarter of the year- and despite the increase in financial costs caused by the rise in interest rates for part of the European Central Bank (ECB).

Just over 848 million euros were subscribed for the constitution of the 8,717 companies created last November. This amount represents 34.7% more than in the same month of 2021, while the average subscribed capital, which stood at 97,297 euros, increased 26.4% year-on-year. However, in the first eleven months of 2022 -in the accumulated year-to-date, 2.2% fewer companies were incorporated than in the same period of 2021 and 10.7% more companies disappeared.

19.7% of the commercial companies created in November belong to the Commerce sector, and 17.2% to Real Estate, financial and insurance companies. Regarding dissolved companies, the vast majority also belong to these two surroundings, with 18.8% and 17.0%, respectively. These activities are more directly affected by the slowdown in household consumption and the increase in the cost of financing.

The activity with the highest subscribed capital of commercial companies created is Real estate, finance and insurance, with 716.51 million euros. For its part, information and communications presents the lowest capital, with 2.45 million. On the other hand, at the same time that the creation of companies increased, the dissolution of companies also increased in November, 24.3% compared to the same month of 2021, up to a total of 2,652 entities. Reflecting figures that overshadow the development of jobs created during the last month.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments