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It has been another record-breaking year for business and commerce in the province. In 2024 Malaga hit its best numbers in 20 years for companies being created. As Spain's INE national statistics institute has just reported, the number of trading companies set up last year rose to 7,541, a figure that is 6.4% higher than a year earlier, when the number of new companies registered was 7,088. Moreover, the number in 2024 is the highest since that recorded in 2004, when there were 7,656 new companies set up. Put simply, last year's figure was the best figure for business start-ups in the last two decades.
7,541 trading companies set up in Malaga in 2024
This was 6.4% more than the new companies total registered in 2023.
That is not all. In addition to the number of new companies created, it is worth measuring the net creation of trading companies, meaning the trade-off between new companies created and those that went out of business to see if there is a positive balance. Only then can we truly know if there has been real growth in the business fabric of the province. Thus, in the case of Malaga, a total of 1,387 companies were dissolved during the year 2024, according to the same INE statistics made public on Tuesday, from which it can be deduced that the net creation of companies in Malaga last year was 6,154. This is the best result since that recorded in 2005, when the number of trading companies in the province grew by 6,634 names in net terms.
With these figures, Malaga is well ahead of the pack in Andalucía as the province in which the largest number of trading companies were set up last year. The 7,541 companies created in Malaga province easily beat the 4,645 created in Seville, which is the second most booming province in the region for new business. Moreover, Malaga accounted for 38% of the newly created companies registered in Andalucía as a whole last year. That means that practically four out of every ten new companies created in this region have Malaga province as their place of origin.
If we return to analysing the net creation of companies, the 6,154 companies by which the productive fabric of Malaga has increased is also a far cry from the 3,605 in Seville. Of the total of 15,760 new companies in Andalucía in net terms (minus those that have gone out of business), Malaga represents 39%.
In the national ranking Malaga was the third province in terms of company start-ups last year, behind only Madrid and Barcelona (27,093 and 18,337 companies were set up respectively) and ahead of Valencia (7,285) and Alicante (6,246) last year. Seville comes immediately after in sixth place.
For Spain as a whole the number of trading companies set up in 2024 was 117,990, some 9% higher than a year earlier. This is the best figure for start-ups since 2007 when the figure was close to 143,000. In net terms the country's productive fabric has grown by 92,900 new companies, also its highest number since 2007, when the net creation of companies (new minus dissolved ones) was close to 125,000.
Monthly data: December 2024
This boom in business start-ups in Malaga did not falter even in the last month of 2024. The incorporation of trading companies in the province for December amounted to 607, which represents a growth of 3.6% over the previous year's figure. Added to this is the fact that 2024 was the best month of December since records began, although bear in mind that only annual figures have been logged since 2000 and monthly data only date back to 2008.
However, it is wise to add a note of caution to this news because something unusual happens when we analyse the net creation of companies for December in Malaga. Net creation for the last month of 2024 was only 379 companies, a net figure that should have exceeded that of December 2023 (429). Nevertheless, although the incorporation of companies was lower in December 2023 (586), dissolutions were also lower (157 compared to 228 in the same month of 2024).
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