8.4% Per Year After Five Months Of Falls

The Creation Of Companies In Spain Grows To Pre-Covid19 Rates In August


POSTED BY: THE CORNER.EU 15TH SEPTEMBER 2020. - In August up to 5,407 new com­pa­nies joined the Spanish bu­si­ness net­work com­pared to 5,407 in the same month last year, lea­ving behind five con­se­cu­tive months of de­clines due to the Covid-19 cri­sis. This in­for­ma­tion is in­cluded in a re­port by the Association of Registrars, which points out that after the pan­demic “the re­turn to po­si­tive fi­gures in this im­por­tant in­di­cator is com­ple­ted.”

Specifically, the incorporation of companies grew by 8.4% year-on-year in August, compared to the 72.1% drop recorded in April, the 56.4% fall in May, the drop of 10 pct in June and the more moderate decline of 3.4% in July.

Meanwhile, the amount of capital increases recorded in the commercial registers directly reflect owners’ commitment to their business projects.

In terms of volume, the recovery which began in June has been maintained, with a drop of 11.1% in August compared to the same month last year.

As regards total insolvency proceedings, August 2020 shows a 4.6% drop in the annual rate of registrations of these processes compared to a year earlier. This is below the declines in June (16.1%) and in July (6.5%).

The registrars recall that during the first months of the pandemic insolvency proceedings had generally declined, by 84.8% in April and 76.1% in May. They were affected by the slowdown in internal communications, typical of the bankruptcy process, during the state of alarm.

This August, 148 voluntary bankruptices were registered, a decrease of 21.3% from the previous month. Meanwhile, there were 62 involuntary bankruptcies registered, reflecting a drop of 52.7%.

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