New companies increase by 20% in Catalonia throughout October

The number of companies set up in Catalonia in October rose by 20.5% compared to September, however fell by 14.3% when compared with the same month last year, according to data from Spain’s National Institute of Statistics (INE).

Out of the 1,224 new companies established in the country, 1,218 were limited companies, with a total capital of 102.8 million euros, while the rest were joint-stock companies with a capital of 2 million euros. The joint capital made up a total of 104.9 million euros, 14.5% more than October 2016.

Compared to Spain as a whole, Catalonia came in third with the number of new companies created, behind the Community of Madrid with 1,709 new companies, and Andalusia (1,260 new companies.)

On the other hand, the number of dissolved companies in Catalonia in October fell by 8% compared to the same period last year, but increased by 51.3% compared to September.