Business start-ups in the Canary Islands showed a strong increase of 21.7% in March

The business creation in the Canary Islands increased by 21.7% in March, which is the second highest increase in Spain

The Canary Islands registered the incorporation of 460 new commercial companies in March, 21.7% more than in the same month of the previous year and the second highest increase in the country, while the number of companies dissolved was 84, 15.1% more, according to data by the National Statistics Institute (INE).

For the companies set up in March on the islands, a capital of 4 million euros was subscribed and the same figure was paid up. All the companies created in the region were limited companies, with a total of 460. In addition, 88 companies increased capital in March to a value of 41.4 million euros.

The regions that created the fewest companies in the third month of the year were Navarre (2), La Rioja (16) and Castilla-La Mancha and the Region of Murcia, both with 28. Fifteen regions created more companies in March than in the same month of 2022, and only Cantabria and Catalonia created fewer, with decreases of 4.8% and 3.9%, respectively. The sharpest increases were in the Autonomous Community of Valencia (+21.8%), the Canary Islands (+21.7%), Aragon (+19.6%) and Navarre (+19.4%).

Eight Communities increased their number of business dissolutions last March in the interannual rate, mainly Castilla y León (+78.2%), Extremadura (+43.5%) and Aragón (+35.5%), and the other nine reduced them, especially Navarra (-66.7%), Cataluña (-47.9%) and Región de Murcia (-47.2%).


Nationally, the number of new trading companies rose by 8.9% last March compared to the same month in 2022, to a total of 12,076 companies, its highest figure since June 2007. With the upturn in March, company start-ups have risen for three consecutive months, although March has been the most moderate of those recorded in the first quarter.

To set up the 12,076 companies created last March, just over 525.8 million euros were subscribed, 34.2% more than in the same month of 2022, while the average capital subscribed, which stood at 43,548 euros, increased by 23.2% year-on-year.

While company start-ups rose, company dissolutions fell in March, by 8.8% compared with the same month in 2022, to a total of 2,336. Thus, every day in March, 75 companies closed their doors in Spain.

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