June 16, 2024

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Economic recovery?  40.8% of businesses disappeared in June more than they disappeared after confinement

Economic recovery? 40.8% of businesses disappeared in June more than they disappeared after confinement

This week, the National Institute of Statistics released company creation and dissolution data for June. In the construction department, the situation is not so bad since compared to June last year, when Spain was still subject to home foreclosures and forced business closures for much of the month, business creation grew by 41.8%, a figure not seen in June in a year 2007. In total 9,554 new companies. This data only confirms that over the past year and with the gradual and timid return to activity, setting up businesses has been the option that many affected by unemployment have chosen to try to find ways to generate income.

With year-on-year progress in June, corporate chains have been established Five consecutive months of positive rates After increasing by 3.1% in February, 61.8% in March, nearly 300% in April and 152.4% in May.

The intersection of statistics in the destruction of companies. It’s a drama. If June of last year was indeed disastrous due to the impact of the forced closure of companies due to the declaration of a state of alert and the lack of shock plans for direct assistance to those companies that the government was forced to close, (a) a year later, we are still witnessing a strong destruction of companies that still assert that The recovery the CEO sells is far from the strength and speed they boast.

According to the data of the National Institute of Statistics, in the month of June alone, the number of businesses dissolved and directly dissolved reached 1,570, up 40.8% from the same month in 2020. This means that the rate of business destruction is almost the same as creation.

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On a monthly basis (June vs. May), company incorporation is down 0.2%While corporate dissolution decreased by 8.7%. In both sides, most of the trading companies were also dedicated to trade, where 20.2% of companies were created and 20.9% of those dissolved companies.

To form 9,554 companies set up in June, 472.5 million euros, an increase of 20.2% That in the same month of 2020, while the average subscribed capital, which amounted to €49,458, decreased by 15.3% in the inter-annual rate.

Of the 1,570 companies that closed last June, 78.3% did so voluntarily, 5.4% as a result of mergers with other companies and the remaining 16.3% for other reasons.

for this part, The number of trading companies that increased their capital increased by 26%. In the sixth month of the year on average between the two years, the number of companies reaches 2,439. The subscribed capital of these increases was close to 1772 million euros, the figure is 66.8% higher than in June 2020, while the average capital was 726,513 euros, 32.3% more than the annual rate.

Madrid and Catalonia lead the creation of companies

Autonomous Communities that have the largest number of Establishing commercial companies In June they were Madrid (2315), Catalonia (1857) and Andalusia (1674)While the companies with the fewest number of companies were La Rioja (39), Cantabria (75) and Navarra (82).

Presence dissolved commercial companies, was the one that recorded the highest number in May Madrid (483), Andalusia (272), Catalonia (125). On the contrary, the regions where the least firms disappeared were Navarra (2), La Rioja (9) and Cantabria (19).

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In June, business creation increased at an annual rate in all communities except ExtremaduraIt fell by 18.1%. The highest increases correspond to Navarra (+74.5%), Canary Islands (+67.7%), Aragon (+63.7%) and Castilla-La Mancha (+60.4%), while the lowest were recorded in the Basque Country (+17.5%) and Cantabria (+23 %).

Regarding dissolved companies, only the regions of Navarra (-50%), Comunidad Valenciana (-2.7%) and Aragon (-2.3%) recorded an interannual decrease in June. Dissolutions of companies increased in the rest of the societies, especially in Castilla-La Mancha (+141.2%), La Rioja (+125%) and Murcia (+81.3%).