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Business creation in Malaga reaches a record high

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Business creation in Malaga has reached a record high this month.

Business creation in Malaga is at a record pace with more than 500 businesses a month registering in the capital.

Malaga has once again overtaken Sevilla in business dynamism. The rebound in activity generated the registration of more than 4,000 companies up to August, with the real estate, hospitality and construction businesses leading the way to what is hoped to be the green shoots of post-pandemic recovery.

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The creation of new companies has continued to set a record pace this year in the province of Malaga. ‘These new figures set a historic high,’ said the Andalucian Institute of Statistics and Cartography (IECA), who announced the data on Monday, September 27.

The statistical agency also said that it should be taken into account that in April of last year the number of companies incorporated, that increased capital or that were dissolved “was exceptionally low” due to the declaration of the first state of alarm and due to the suspension of non-essential activity for two weeks.

The average is the creation of more than 500 new companies every month and represents, so far, a growth of almost 48% compared to the same period during the disastrous financial year of 2020, when the pandemic paralysed economic activity in the province.

Figures from the IECA, a body independent of the Ministry of Economic Transformation, have also confirmed a strong rebound in the business constitution during 2021.

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