Startups in February up 23.9% on year; insolvencies down 1% – study

  • Lusa
  • 7 March 2019

A study made by Iberinform shows that the number of insolvencies went down 1% in February, while the number of new companies in Portugal increased by 23.9% that month.

The number of new companies formed in Portugal in February was up 23.9% on the same month a year earlier, at 4,668, while the number of insolvencies was down 1% at 494, according to a study by business information service Iberinform.

In the study released on Thursday, the subsidiary of Crédito y Caución, a company specializing in credit insurance for the domestic and export markets, there were five fewer insolvencies in February than a year earlier and 899 more new companies.

In the first two months of this year together, the number of new companies created was up 25.1% at 11,330.

The cumulative total for insolvencies was up 3.5% on the same period a year earlier, at 1,007, although this total was lower than the same period in both 2016 and 2017.