Madrid and Catalonia have led business creation in Spain over the last three decades, reaching a record high in 2024

Business demographics in Spain have undergone several significant phases in the last 30 years. initial expansion (1994-2007) It saw the number of new companies exceed 100.000 in 12 out of 14 years, reaching a peak of 150.108 constitutions in 2006This cycle was interrupted by the 2008-2009 crisis, which marked a low of 79.642 new companies in 2009.

A later phase of post-crisis (2010-2019) It showed a recovery, although the number of new businesses only exceeded 100.000 in 2016. Covid-19 crisis in 2020 It caused another fall, with only 79.779 companies createdHowever, the current period of recovery (2021-2024) It has been remarkable, with the number of constitutions exceeding 100.000 for the first time since 2016 in 2021, and reaching 119.801 in 2024 setups, the highest figure since 2008.

Geographic Distribution: Concentration along Major Axes

Between 1994 and 2024, a total of 3.275.202 companiesBusiness creation is mainly concentrated in three autonomous communities, which account for the majority of new businesses: Madrid leads the ranking with the 20,35 % (666.447 companies); Catalonia It follows closely behind with the 19,05%; Andalusia It exceeds half a million, representing the 16,01%.

The Valencian Community is the fourth autonomous community with the most constitutions in this period, reaching 11,77 % with 385.442 companies.

Invested Capital: Highs Driven by Large Transactions

The capital invested in the formation of companies in 2024 was 5.925 millones de euros, the highest figure since 2016. However, the analysis of average capital per company reveals an average investment of less than 50.000 euros in 2024, the fifth lowest average in the last three decades.

The year that stands out for an exceptionally high average capital is 2011Despite a lower number of constitutions, this peak is explained by two major investments:

State Society of State Lotteries and Betting SME SA, with 12.520.592.000 Euros.

IBERCAJA BANK SA, with 2.134.500.000 Euros

Both companies, established in 2011, remain active today

Business Survival and Company Closure

The study also assesses the trajectory of companies established in key years, highlighting greater survival in more recent cohorts:

Of the companies created in 1994, 17,64 % (18.059) remains active.
those of 2004 They show an activity rate of 19,50 %
Those founded in 2014 They record the highest survival rate with a 35,82 % of activity

Regarding closures, the vast majority are formalized through official processes (bankruptcy publications, dissolutions or closures of the registry entry): Companies of 1994: 86,70 % of official closures; Companies of 2004: 80,27 % of official closures; Companies of 2014: 66,29 % of official closures.

The use of bankruptcy proceedings (suspension of payments, bankruptcies, insolvency proceedings) remains very small, representing only 0,26% of companies in 2024 and similar figures in previous years.