Island business booms

THE National Statistics Institute has this week released figures that show business development in the Balearic Islands is on the increase.

Year-on-year figures show that not only has the number of companies closing down fallen from last year’s total by 18.5 per cent, but also the birth of new businesses has risen by 15.2 per cent.

The 280 newly-created firms have ensured that the Balearics remain the fastest growing region in Spain, followed by Galicia with 7.7 per cent annual growth, and Andalucia with 3.4 per cent

All of the 280 businesses opted to register as limited companies with a total investment recorded at €10.4 million.

The double bonus of closures declining and new starts rising equates in real terms to a 33 per cent rise in business, and a very bright outlook for the future.

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