Balearic economy fuelled by huge number of new businesses

The creation of companies increased by 35 per cent throughout 2021 in the Balearic Islands, with 3,467 companies incorporated.


The creation of companies increased by 35 per cent throughout 2021 in the Balearic Islands, with 3,467 companies incorporated, while dissolutions rose by 16.6 per cent, to 1,010, according to data published this Friday by the National Institute of Statistics (INE).
These figures imply that, on average, each day of 2021 2.7 companies closed in the Balearic Islands, but, in return, 9.5 were created. In fact, the islands are the second autonomous community in which the creation of companies increased the most in 2021, in relative terms, only behind Navarra.
For the constitution of these 3,467 companies in the Balearic Islands, a capital of 193.5 million euros was subscribed. Only six of these companies were public limited companies, with a capital of €1 million.
During the same period, 818 companies in the archipelago increased their capital by €801.4 million. Of these, 31 were public limited companies with a capital of €43 million.
As for the 1,010 dissolutions, 852 were voluntary, 99 due to merger and 59 for other reasons. Seven Balearic companies executed passive dividend disbursements in 2021, with a capital close to €354,000, and 183 companies reduced capital with a subscribed capital of €252.9 million.
In the month of December alone, 310 companies were created in the Balearic Islands, 59 per cent more than in the same month of 2020, with a subscribed and paid-up capital of €18.2 million.
Also in December, 124 companies were dissolved on the islands, 2.4 per cent less than a year earlier. A total of 120 were voluntary dissolutions, three due to merger and one for other reasons.
71 companies based in the community increased their capital throughout the month of December, with €35.6 million, and 22 companies reduced their capital, with a subscribed capital of €142.9 million.
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Laura Kemp

Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features. Got a news story you want to share? Then get in touch at [email protected]

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