More businesses were created than were dissolved in July.

10-09-2020Miquel À. Cañellas

In July, 93 businesses in the Balearics were dissolved, while 243 were created. Compared with the same month last year, there was a 43% increase in dissolution and a six per cent rise in the establishment of new businesses.

Figures from the National Statistics Institute indicate that in the whole of Spain 1,432 companies were dissolved in July. This was the highest figure since March but was twelve per cent lower than in July 2019. The number of new companies was 7,636, a fall of 2.4% compared with last year, but the actual number was the highest since October 2019.

The total capital for all these companies was 461 million euros, a decrease of 42.7% compared with last year.

Of the companies created in July, 23.5% were in the commercial sector and 14.5% were in the real estate, finance and insurance classification. Companies in the commercial sector accounted for 17.6% of the dissolved businesses; construction for 16%.

By region, Madrid had the most new businesses (1,755), followed by Catalonia (1,455) and Andalusia (1,292). The lowest numbers were in Cantabria (68), Navarre (60) and La Rioja (36). Madrid also had the highest number of dissolved companies (540), followed by Andalusia (169) and Valencia (127). Navarre, with four, had the fewest.

The Balearic 43% increase in dissolution compared with last year was the second highest percentage in the country after La Rioja (57%).

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