Palma.—There were 203 new companies registered last month in the Balearics, 50 percent more than in January last year, Dun & Bradstreet Business Information Services confirmed yesterday, but there were also 141 closures - 51 percent more than a year ago.

Dun & Bradstreet highlighted the fact that applications for company mergers in the Balearics last month (27) grew by 200 percent in comparison with January 2010.

Overall, there were 7'497 companies registered for trading in the Balearics last month, 20.6% more than in January 2010 but firms going into administration numbered 489, 17 percent more.

Dun & Bradstreet's Director of Studies, Nathalie Gianese said yesterday that there were nearly 796 million euros being invested in companies in the Balearics last month, 44 percent more than in January 2010. “The fact that there are now more than 7'000 firms trading in the Islands is a very positive sign,” Gianese said “considering that this level of business hasn't been seen for more than half a year.” The number of company registrations and the creation of new businesses grew in all regions of the country at the start of the year with the exception of the Basque Country where there was an overall downturn of -7%. Business grew the most in Madrid, Andalucia and Catalonia where new companies accounted for 56 percent of the national total.

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