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Spain's new businesses increase by 0.8 pct in 2014

Xinhua, February 12, 2015 Adjust font size:

The total number of new businesses created in Spain increased by 0.8 percent in 2014, according to data published on Wednesday by the Spanish Statistical Office (INE).

The INE reported that a total of 94,152 new businesses were created in 2014, the highest figure in six years as business creation peaked at 149,471 new businesses in 2006.

Twenty three percent of the new businesses created in 2014 belonged to the trade sector, 17 percent to the construction sector, 10.9 percent to the professional activities sector and 10.7 percent belonged to the real estate sector.

New businesses used a subscribed capital of 7.404 billion euros (8.355 billion U.S. dollars), which meant a 10.1 percent increase in comparison with a year earlier, while the average amount of capital stood at 78,645 euros, 9.2 percent more than in 2013.

The INE said the number of businesses dissolved fell by 11.9 percent in 2014 to a total of 21,850, which was the lowest figure in three years. 14,869 were dissolved voluntarily, 1,857 were dissolved via mergers and the remaining 5,124 for other reasons. The INE pointed out that 21.5 percent of them belonged to the trade sector, while 21 percent to the construction sector.

The region of Madrid registered the largest number of new businesses in 2014 followed by the northeastern region of Catalonia with a total of 20,286 new businesses and 17,665 new businesses respectively. On the other hand, Madrid and Andalusia registered the largest number of business dissolved with 5,147 and 3,168.

The INE also said in December the total number of businesses created stood at 7,488, which meant a 6.8 percent increase on a year-on-year basis. They used a subscribed capital of 1.423 billion euros while the average amount of capital stood at 190,111 euros. On the other hand, the number of businesses dissolved rose by 1.1 percent to 2,427. (1 euro = 1.13 U.S. dollars) Endit