According to the axesor Business Radar for Bankruptcy and Demography, closing in May 2023, there has been a moderation of inflation to 6.1% this month and new nearly 6,000 more startups in Spain (constitutions minus dissolutions during the month of May). These data reflect that Spanish tissue is gaining muscle, according to Experian.
The data indicates that 10,373 companies have been incorporated (compared to 9,375 in May 2022), which brings the total number of companies registered in our country to 50,619 companies so far this year (compared to 46,247 compared to the same period of the previous year). With respect to dissolutions, in May of this year a total of 4,412 were registered, (336 more than in April) which represents a decrease of 12.5% compared to the same month of the previous year.
If we look at photography by autonomies, Catalonia It is the community in which the number of companies has grown the most, with a total of 1,356 (2,041 new mercantile ones and 685 dissolved); Andalusia It ranks second in net balance with 1,296 new companies (1,992 were incorporated in May and 626 were dissolved); and Madrid It is the third community that most strengthens its business fabric, closing May with 1,087 more companies (it recorded 2,191 constitutions and 1,104 dissolutions).
The ranking of sectors with the highest number of incorporated companies continues during the month of May without variations. Wholesale, retail and vehicle repair trade ranked first (1,884 new merchants in May); It is followed by Construction (with 1,440) and Hospitality (with 1,164) is in third position. In the dissolutions section, the photo of the sectors with the highest incidence is exactly the same as last April. The list is headed by wholesale and retail trade and vehicle repair (844, 7% less than the same month of the previous year); Construction (627, 13.4% less than the same month of the previous year) and Professional, Scientific and Technical Activities (470, 11% less than May 2022).
Bankruptcy proceedings: rebound in May
Bankruptcy proceedings have rebounded during the month of May to reach 480 procedures, which marks a new annual record, after January was the only month of the year that had exceeded 400 procedures. Despite this rebound, the figures accumulated so far this year they are 24% lower than those registered in the first five months of 2022. At this point, 2,429 bankruptcy applications had been submitted last year, and in 2023 the figure is 1,843.
When carrying out a sectoral analysis of the data, the sectors that present a greater bankruptcy repeat one more month, although the positions in the ranking change. In the first place it follows Wholesale, retail and repair of vehicles, with 120 procedures started. The second place is for Construction with 79 bankruptcy files and Manufacturing industry moves to the third position, with 61 open procedures.
By regions, Catalonia with 129 (almost 5% more than in May 2022); Madrid with 80 (9% less than in May 2022); and Valencia with 66 (16.4% less than in May 2022) are the communities with the highest number of contests registered in May. Between the three, they account for almost 60% of all bankruptcy proceedings initiated during May 2023.
