New business on the march in September

A total of 292 new companies were set up in the Balearics during September, which is an increase of 20 percent compared to the same month the previous year. A report issued by the National Institute of Statistics (INE) yesterday confirmed that the 292 organisations subscribed to a capital of 15.2 million euros, 77 percent more than in September last year. Another 103 companies increased their capital in the Balearics in September, by a joint sum of 21.88 million euros; and 23 companies were dissolved in the same period. Across the country, the number of companies created in the first nine months of the year rose by 8.9 percent in comparison with the months January to September last year. Last September, claim the INE, 9'756 trading companies were established, 4.1 pecent more than the same month in 2003. The capital subscribed amounted to 948 million euros, a figure 41.8 percent higher than for September last year. In the same month, 3'050 companies increased their capital, 4.3 percent less than in September 2003; but the extra amount invested which totalled 2'396 million was 31.3 percent more than the previous year. Dissolution was sought by 727 companies, 3.8 percent less than in September in 2003. The decision was taken voluntarily by 75.8 percent, 19.7 percent due to merger, and 4.5 percent for other reasons. According to INE, Madrid and Catalonia were accountable for 52.2 percent of the subscribed capital in setting up trading companies, as well as for 71.7 percent of the companies which increased their capital.