In November 2025, Spain registered the creation of 11.061 new companies, which represents an increase of 11% year-on-year. According to Study on Business Demographics de INFORM D&BThe year-to-date total reaches 116.102 incorporations (+6%), anticipating a better year-end than 2024 thanks to the boost from the Construction and the dynamism in Madrid y Catalonia.
The data confirms the resilience of the Spanish business sector. Although the November figure is 4% lower than October's, the annual trend remains strong. Nathalie Gianese, Director of Studies at Informa D&BIt highlights that "business creations maintain a positive tone: in eleven months they already exceed by 6% those of the same period in 2024, more than 116.000, with Catalonia, Madrid and Valencian Community as main drivers."
Evolution of investment and major operations in the Basque Country
La capital investment For these constitutions, in November it reached the 503 millones de eurosThis figure represents a 28% increase compared to the previous month, although it marks a 2% decrease in the year-on-year comparison. In the overall figures for the year (January-November), the expenditure exceeds 5.100 millones de euros, An 6% less than in 2024.
It is relevant to point out the behavior of the Basque Country In November, it accounted for almost a third of the monthly investment (€161 million) due to three major transactions:
- Alfuini SL: 75,4 million euros.
- Begui25 SL: 30,8 million euros.
- Lamassane SL: 22,5 million euros.
The main comparative business demographic metrics are detailed below:
| Indicator | Data November 2025 | Year-on-year change (Nov) | Accumulated 2025 | Cumulative Variation |
|---|---|---|---|---|
| Creation of Companies | 11.061 | + 11 % | 116.102 | + 6 % |
| Capital Investment | 503 M€ | -2% | 5.100 M€ | -6% |
Geographic analysis: Madrid leads in volume, Andalusia in investment
In the accumulated territorial analysis, Madrid It consolidates its position as the epicenter of entrepreneurial activity with 26.079 new companies (22,5% of the total), followed by Catalonia (22.661) and Andalucía (19.427). In terms of absolute annual growth, Catalonia y Madrid These are the ones that add up the most, while Navarra It is the only one that reduces its figures (-38).
However, the behavior in November showed different nuances. The most significant monthly increases corresponded to:
- Valencian Community: +304 constitutions.
- Catalonia: +302 constitutions.
- Andalucía: +283 constitutions.
By contrast, Madrid It recorded the only significant reduction of the month (-80), although it maintains its leadership in monthly volume with 2.412 new companies.
| Autonomous community | Constitutions (Accumulated) | Accumulated Investment | Featured note |
|---|---|---|---|
| Madrid | 26.079 | 865 M€ | Leader in number of companies. |
| Catalonia | 22.661 | 938 M€ | Second in creation and capital. |
| Andalucía | 19.427 | 1.117 M€ | Leader in capital investment (22% of the total). |
Sectors: Construction on the rise and High Technology declining
The sector Construction and real estate activities It concentrates the greatest dynamism, leading both in November (2.989 new registrations, +13%) and in the year-to-date total, where it reaches 30.228 companies, adding 3.029 more than in 2024. They are followed by Stores (19.140, with a decrease of 574) and Business services (17.196, +7%).
On the other hand, the sectors of High technology They show a worrying contraction. Since January, 5.032 technology companies have been established (4% of the total), 16% fewer than a year ago, with invested capital falling by 33% to 76 million euros.
Regarding governing bodies, the 13.065 administrators appointed in November reflect a persistent gender gap: 71% are men compared to 23% women.
Key points and frequently asked questions about Business Demographics in Spain
How many companies will have been created in Spain by 2025?
As of November 2025, 116.102 companies have been established, representing a 6% increase compared to the same period of the previous year.
Which sector leads in the creation of new businesses?
The sector Construction and real estate activities It is the most dynamic, accumulating 30.228 new companies so far this year and registering the highest absolute growth.
Which autonomous community receives the most capital investment?
Andalucía It leads the ranking of accumulated paid-in capital with 1.117 billion euros, which represents 22% of the total investment in Spain, after growing by 28%.
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