The creation of companies in the Balearic Islands experienced in October a strong momentum, with an increase of 29.1% in year-on-year rate and a total of 439 commercial companies formed, according to data published Thursday by the National Statistics Institute (INE). This is the best record in a month of October in the entire historical series, a milestone that allows the archipelago to abandon the negative figures recorded in September.
439 new companies and more capital invested
More than 10.9 million euros were subscribed for the incorporation of these companies, an increase of 79.2% over October of last year. The notable increase in paid-in capital reflects a greater investment commitment in the region and a business dynamism that exceeds the national evolution.
Together with the Balearic Islands, the Canary Islands (+23.94%) and the Basque Country (+19.3%) were the regions with the highest growth rates in company start-ups. At the opposite extreme were Navarra (-41.82%), Extremadura (-9.02%) and Aragón (-6.19%).
More dissolutions, but also within the national average
October also saw an upturn in the number of companies dissolved. In the Balearic Islands, 110 companies closed, representing an increase of 26.4% over the same month of the previous year. Of these, 101 did so voluntarily, five by merger and another four for various reasons.
At the national level, the Balearic Islands was the community with the second highest increase in dissolutions, only behind Castilla-La Mancha (+29.73%) and ahead of Asturias (+22.86%). On the other hand, Murcia (-48.98%), Castilla y León (-22.34%) and La Rioja (-16.67%) recorded the sharpest decreases.
Decrease in capital increases
Despite the strong growth in the creation of new companies, October was not a good month for capital increases. In the Balearic Islands, 58 companies increased capital, 10.8% less than a year ago. The capital subscribed in these operations fell sharply to 28.34 million euros, down 45% year-on-year.
