Spain's business creation falls by 2.8 pct in Sept.

The creation of new businesses in Spain fell by 2.8 percent in September when compared with the same month in 2014, according to data published on Wednesday by Spain's statistical office (INE).

The INE reported that a total of 6,444 new businesses were created in September with the regions of Madrid, Andalusia and Catalonia registering the highest figures on business start-ups. On the other hand, the regions of La Rioja, Cantabria and Navarra registered the lowest figures in September.

The INE said that businesses created in September used a subscribed capital of more than 219 million euros (234 million U.S. dollars) to get off the ground, which meant a 42.9-percent fall in comparison with a year earlier.

The average amount of capital spent stood at 34,097 euros, a 41.3-percent fall when compared with a year earlier.

Meanwhile, the number of businesses which dissolved fell by 3.9 percent on a year-on-year basis to 1,269. A total of 69.3 percent were dissolved voluntarily, 12 percent via mergers and the remaining 18.7 percent for other reasons.

The regions with the highest number of businesses which closed were Madrid, Andalusia and Valencia, while La Rioja and Navarra had the lowest figures.

Finally, on a month-to-month basis, the number of businesses created rose by 24.3 percent, while those dissolved increased by 6.9 percent. Endit