Business creation in Portugal up by 12.2%, bankruptcies drop 6.3%

  • ECO News
  • 11 January 2019

Lisbon presented the most significant amount of new businesses created in the country, with 15,829 new companies opening in the region in 2018, followed by Porto, with 8,179.

The business world in Portugal is blooming, as in 2018 we witnessed an increase of 12.2% in the number of new companies opening in the country, amounting to 45,386 new businesses. The information was released by Iberinform, this Thursday.

The 12.2% growth meant that 4,921 more companies were opened in 2018 when compared to the previous year, and alongside this, the number of bankruptcies also decreased, dropping by 6.3% in 2018, with a difference of 396 cases of insolvency in comparison to 2017, as announced by Iberinforma, a subsidiary of Crédito y Caucion, a company which specializes in credit insurance for national markets and exports.

The region in which more new businesses were launched was Lisbon, where 15,829 new companies opened in 2018, a 15.6% increase in comparison to 2017, followed by the district of Porto, with 8,179 new companies and a 15.1% increase. The are which registered substantially lower scores was Setúbal, with a total of 3,391 new businesses being launched, however representing a growth of 23.4%, Braga, with 3,274 and a growth of 10.5%, and Faro (2,492 and or 10.5% more than in 2017).

Only six districts showed a drop in the number of businesses launched in 2018. Horta showed a decrease of 16.2%, Bragança’s business initiative dropped by 10.8% and Portalegre by 5.8% in comparison to the previous year.