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An employee working in a distribution company. Migue Fernández
Malaga records 28.5% increase in company start-ups in best January since 2008
Business

Malaga records 28.5% increase in company start-ups in best January since 2008

The increase in the creation of new companies in the province is double that recorded in Spain as a whole

Cristina Vallejo

Malaga

Monday, 11 March 2024, 16:01

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A total of 711 new companies opened in Malaga province in January, 28.5% more than 12 months ago, new figures show.

It comes off the back of a strong 2023 where nearly 7,100 companies were created in the province, 690 a month on average. The first month of this year continued along a similar trend with 711 companies starting up in the province in January compared to 553 in the same month a year ago.

Malaga has consolidated its position as the leading Andalusian province for company start-ups, well ahead of Seville, which ended January with the creation of 423 new companies. Malaga is the third province nationally, behind Madrid (2,143) and Barcelona (1,669). Of all these provinces, Malaga has the highest year-on-year growth in company start-ups, as the rise in Madrid is less than 5% - in Barcelona the increase is 11%, in Valencia 7%, and in Seville just over 3%.

The growth in the generation of companies in Malaga province more than doubles that recorded in Spain as a whole, which has been limited to 13.1%, with the number of companies created rising from 9,475 in January 2023 to 10,716 a year later, according to the figures. For Malaga, after this rise of 28.5%, January 2024 has become the best month since 2008. In Spain, the 10,716 companies created in January are only surpassed by the 11,764 created in the first month of 2008.

A total of 37.2% of the companies created in the Andalucía region are from Malaga, according to the data. Of the 1,909 new companies created in the region, some 711 were set up in the province. A year ago, Malaga's share was less than 33%.

Net creation of companie

A total of 171 companies in Malaga were dissolved in January, almost 9% more than in the same month last year. It is the fourth-placed province in Spain for company liquidations behind Madrid (1,003), the Balearic Islands (189) and Alicante (172), according to the figures. It is also the first-placed province in Andalucía, ahead of Seville (152). Company closures increased by 8.9% in Malaga in January compared to a year earlier, while in Madrid they fell by 27% and in Alicante by 11%.

Subtracting the number of companies that closed from those created gives a net figure of 540 new companies, some 36% more compared to the figure of a year earlier, when it did not even reach 400.

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