Creation of new companies decreases in last quarter of 2017

The number of companies set up in Catalonia in the last quarter of 2017 decreased by 18.3% when compared to the same period the previous year, according to data published today. The figure stood at 3,863 new companies created in the last three months of last year.

This decrease was the most pronounced in comparison to Spain as a whole, followed by Galicia where the creation of new companies decreased by 15.9% according to the Association of Property, Commercial and Furniture Goods Registrars.

Business transfers

The annual report also demonstrated that Catalonia had the most firms transfer their headquarters out of the country to other autonomous regions in 2017, with a total of 2,536 transfers. Madrid was the main destination for companies changing headquarters, receiving nearly 60% of the total.

Compared to the rest of Spain, the Community of Madrid followed Catalonia with the number of companies moving their headquarters. Out of a total of 1,279 relocations, 273 headquarters were moved to Catalonia.

A hub for start-ups

Meanwhile, Barcelona is proving itself to be a “hub” of “start-ups”. Compared to Spain as a whole, the Catalan capital is home to 1 in 3 of the total innovative new companies forming, also placing it in fifth place in terms of the European Union, according to a report entitled ‘Startup Ecosystem Overview’. 58% of the investments in startups in the Spanish state as a whole also end up in Catalonia, the report found.