The creation of new businesses is on the increase with insolvencies continuing to decline, according to the latest D&B barometer released today.
The decline in company insolvencies in October was especially welcome, declining 15.1% year on year, and the number of companies being wound up dropped 16.8% in the same month.
"Interestingly, in addition to the growth company formations recorded in October, this is a trend we have been tracking throughout the year," said Teresa Cardoso de Menezes, managing director of D&B in Portugal.
In October the sectors that contributed most to the increase in new companies were retail, with a rise of 44.2%, accommodation and catering, growing 25.9% and even construction grew 29.1%.
In the case of companies being dissolved, the reduction was due mainly to the agriculture, livestock, fishing and hunting sector (-58.1%), real estate activities (-48.5%), transport (-31%), and construction (-23.4%).
