Number of new Andalucian companies up in June

New business registrations are up in Andalucía, despite having decreased in other Spanish regions.

Employment news relating to the month of June paints a very good picture of the job market in the Costa del Sol’s motherland of Andalucía, as year-on-year company registration increases continue to be seen…

In June, 2.6% more new companies were registered in Andalucía than during the same month last year. According to the Spanish National Institute of Statistics (INE), 1,347 businesses were created in the month of June alone – of which all but two were limited companies – while the subscribed capital for their constitution exceeded 75.4 million euros.

This growth in company creation may have occurred due to the strength of Andalucía’s tourism industry, which is as strong and lucrative as ever, even slightly before the start of the high season.

Or maybe it is the reactivation of the construction and real estate sectors. Or maybe economic growth has triggered greater confidence among would-be small business owners. Whatever the case, long may it continue!

The data from INE also points out that 330 Andalusian companies increased their capital in June, totalling 113.9 million euros between them, while only 42 businesses made losses.

On a national level, company registrations were down 2.5% interannually, although there is a silver lining… the number of dissolved companies fell significantly – by 4.3%, in fact – compared to June 2017.

Perhaps the reason why fewer businesses went into administration nationally was a mixture between a renewed entrepreneurial spirit and greater demand for newcomers to the workforce, as evidenced by the ever-reducing number of jobless people in Spain.

INE data shows a pleasing correlation between the working population in Q2 2018, which was up 2.82% to 19,344,100 individuals, and the jobless total, which was down 1.94% compared against Q2 2017.