Spain's new businesses fall 7.9 pct in November

The total number of new businesses created in Spain fell by 7.9 percent from October to November last year according to data unveiled on Friday by the Spanish Statistical Office (INE).

The INE reported that a total of 7,352 new businesses were created in November, a figure which was unchanged on a year-on-year basis. Twenty-four percent of the new businesses created in November belonged to the trade sector and 16.4 percent to the construction sector.

New businesses used a subscribed capital of 1.208 billion euros (about 1.429 billion U.S. dollars), 168.7 percent more than a year earlier, while the average amount of capital stood at 164,326 euros, 168.6 percent more than in November, 2013.

In November, 1,798 businesses were dissolved, the INE said, which meant a 16.3 percent fall when compared with a year earlier, and a 1.7 percent fall when compared with October. Seventy-one percent of them were dissolved voluntarily, 7.5 percent via mergers, and 21.5 percent for other reasons.

The region of Madrid registered the largest number of new businesses in November as 1,613, followed by the northeastern region of Catalonia and the southern region of Andalusia which registered 1,422 and 1,240 respectively.

Meanwhile, the regions of Madrid, Andalusia, and Catalonia also registered the largest number of businesses dissolved with 439, 258 and 213 respectively. Enditem