Number of companies created by September rises 17% YoY
"Between the beginning of the year and 31 August, 32,298 new companies were created in Portugal, which represents a growth of 17% compared to the same period in 2021," said Informa D&B in a statement.
The number of companies created in Portugal, until the end of August, increased 17% compared to the previous year, to 32,298, with emphasis on the transport sector, according to data from business data provider Informa D&B.
“Between the beginning of the year and 31 August, 32,298 new companies were created in Portugal, which represents a growth of 17% compared to the same period in 2021,” said Informa D&B in a statement.
The transport sector stands out, with the establishment of 2,641 companies, more than double (137%) the figure recorded in the same period last year.
This was followed by general services, with 941 more companies, an increase of 27%, business services, with 709 more companies, a gain of 15%, and accommodation and catering, with 568 more creations, an increase of 23%.
The sectors of retail (-12%), agriculture and other natural resources (-2%) and industries (-1%), were the only ones to show a decline compared to 2021.
Between January and August, the growth in new companies was seen in all regions, with a “very significant contribution” from the Metropolitan Area of Lisbon, where the number of new companies rose 31%, or 3,042 more creations.
The regions of Madeira and Azores are the only ones that exceed pre-pandemic numbers.
With regard to company closures, 7,684 companies were counted in the period under review, 15 fewer than in the same period of 2021.
“Most sectors of activity record closure figures lower than 2021, but some sectors show increases, such as retail (+127 closures, +11.6%), real estate activities (+46 closures, +9%) and also accommodation and catering (+12 closures, +1.5%),” he added.
In the first eight months of the year, 1,068 companies started insolvency proceedings, a 22% decrease compared to 2021.
The largest number of insolvencies occurred in the industry, accommodation and catering and retail sectors, which, at the same time, are those that show a greater drop compared to the same period last year.
The transport sector also stands out, with 10 more insolvencies, which translates into an increase of 16%.
The Informa D&B barometer considers the insolvency proceedings of legal persons, started in the period under review, and with publication in the Citius portal of the Ministry of Justice.
Informa D&B is part of the D&B Worldwide Network, a worldwide information network on companies and other organizations, and its information is used in Portugal by 95% of banking entities, 45% of large companies and 21% of small and medium sized enterprises, covering more than 450,000 users.
