March 7, 2021

Business creation fell during the year of the pandemic to 2009 levels


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The year of the pandemic managed to bring back to the Spanish business fabric some of the ghosts of the brick crisis. So much so, that the creation of Spanish companies fell to levels of that time, specifically 2009. Thus, while in that year 78,204 openings were registered, during 2020 79,151 mercantile companies were established in Spain, according to data provided by the National Institute of Statistics (INE). Of course, despite the bad results in the annual accumulated, December closed with 8.1% more openings compared to the same month of 2019.

In this way, Spain marks its second consecutive year in falls in corporate constitutions, since in 2019 a decrease of 1.2% year-on-year was also signed. In addition, the collapse occurred in double digits in all the autonomous communities, except in Murcia (-6.05%) and Cantabria (-7.08%). For its part, the one that registered the fewest creations was Castile and Leon which showed a drop of 22.2%. after creating only 2,186 mercantile companies. She follows Canary Islands (-21.8%) with 2,647 and The Rioja (-20.8%) with 351.

In absolute terms, the region that opened the most companies was Madrid with 17,946, which again surpassed Catalonia which constituted 15,020. The podium completes it Andalusia with 13,646 more starts.

On the other hand, on the other hand, those that carried out the fewest start-ups were La Rioja (351), Cantabria (592) and Navarre(633), following a population logic.

By sectors, trade (21.8% of the total), real estate, financial and insurance activities(15.3%) and construction (12.6%) were the ones that opened the most entities.

Hand in hand, the capital subscribed for the incorporation of the companies also fell, which fell by 11.7% to 4,911 million euros. It should also be noted that capital increases in commercial companies fell 17.3% to 25,195 companies that did so. What did increase was the average capital with which they were created, increasing by 4.8%.

Less dissolving

Business creation falls by double digits, but so does dissolution, according to the INE. A fact that contributes to the maelstrom of economic uncertainty that has hit the constitutions, but that has an explanation. Because as this newspaper reported, mechanisms such as the bankruptcy moratorium contain the wave of bankruptcy proceedings that the courts expect to register – if there is no extension – when this period ends on March 14. Many of these contests will predictably end in business closure and more in sectors as touched as the hospitality industry. Thus, in this area, 66% of the contests that could be resolved until December of last year ended in business liquidation, according to Informa D&B.

Either way, the number of mercantile companies Dissolved in 2020 was 13.1% lower than in 2019, the best figure since 2011, after four years of increased dissolutions. However, in December there were 10% more closings compared to the same month of the previous year.

Regarding the reasons, of the 20,259 companies that pulled the blind, 75.6% did so voluntarily, 14.3% for fusion and the remaining 10% for other reasons, according to the INE.

Geographically, where the number of closed companies fell the most were in Castilla la Mancha with 67.3% less, followed by Murcia (-29.9%) and Asturias which registered a decrease of 24.9%.

In this way, Spain signs its second consecutive year in drops in corporate constitutions, since last year there was also a decrease in 1.2% year-on-year compared to 2019.

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