Business creation in Galicia falls by 9% in May

In May 2023, Galicia registered the establishment of 329 commercial companies, which is 8.9% less than in the same month in 2022, according to data published this Monday by the Galician Institute of Statistics (IGE). However, this number of created companies is 27 more than in April. The average registered capital was EUR 14,294.65.

As usual, the provinces of Pontevedra (42.25% of the total number) and A Coruña (35.87%) are the ones with the largest number business creation. Next are Lugo (12.165%) and Ourense (9.73%).

The vast majority of constitutions were SL, a total of 321 out of 329. There was only one SA and seven of another type. 22.2% of those created were in the trade branch, followed by catering (18.2%). In addition, 73% of companies have only one founding partner, and 24.3% have two.

Extensions and terminations

On the other hand, 88 companies recapitalized EUR 28.6 million. This is a decrease of 13 compared to the same figure a year earlier. Meanwhile, 87 Galician companies were dissolved in May. There are 14 less than a year earlier, but five more than in April.

Finally, there is the company merger and spin-off process. Likewise, 16 reduced the share capital.