Spanish corporate filings show mixed trends in January and February

They were created in January. The span of 9,472 companies in Spain marks a notable rise of 15.6 percent compared with the same month in 2021. This jump also corresponds with the highest liquidation figure since March 2022, rising 5.8 percent to 3,931 dissolved firms. The National Institute of Statistics, INE, reports these figures for January, highlighting shifts in voluntary dissolutions, mergers, and other causes. The data indicate that 84.8 percent of the dissolutions in January happened voluntarily, 11.1 percent were due to mergers, and the remaining 4.1 percent occurred for other reasons. Total capital committed for starting new companies increased by 9.9 percent year over year, reaching €553 million, while the average committed capital fell by 4.9 percent to €58,388. In January, 3,446 commercial companies increased their capital, with a subscribed capital of €2,787 million. This represents a 35.9 percent rise and an 8.2 percent year-over-year improvement from January 2022, with an average capitalization of €808,795, which is 25.6 percent higher than the annual rate. INE notes that 19.4 percent of newly established commercial companies in January operate in trade; real estate, finance and insurance account for 16.8 percent, and construction makes up 12.7 percent. For liquidated companies, 18.5 percent were in commerce, 15.5 percent in construction, and 15.4 percent in real estate, finance and insurance. Madrid led the country with the highest number of commercial companies established in January, totaling 2,042, followed by Catalonia with 1,868 and Andalusia with 1,680. The smallest counts appeared in La Rioja (45), Cantabria (74), and Navarra (93). In terms of dissolved commercial companies, Madrid reported 1,387 dissolutions, with Andalucía and Comunidad Valenciana close behind at 532 and 320 respectively, while Navarra (31), Cantabria (35), and La Rioja (36) registered the lowest figures. In a contemporaneous statement, the Registrar’s Association provided an update on the business registry’s activity for February, noting progress in the quarterly report. The February data show that 10,219 new companies were established, compared to 9,360 in February of the previous year, indicating a 9.2 percent increase and a recent recovery trend. The regions with the most new company establishments in February were Madrid with 2,475, Catalonia with 1,847, Andalusia with 1,631, and the Valencian Community with 1,330. Ceuta and Melilla recorded 11, La Rioja 51, and Cantabria 58. Capital increase operations in February rose by 4.1 percent, representing six months of growth excluding December and suggesting a meaningful improvement over the weak results seen in the first half of 2022. As for bankruptcies, February recorded 375 filings, down 3.1 percent from February of the previous year, with Madrid, Catalonia, and the Community of Valencia contributing more than six out of ten of the total bankruptcies filed. The data reflect ongoing regional variations and a broader recovery trend across Spain’s business landscape, as reported by the INE and the Registrar’s Association this month.