Business incorporations in Spain rose 8% through September, exceeding 101,000 transactions

During the first three quarters of 2026, 101,347 companies were incorporated in Spain, representing an 8% increase on the same period last year, according to the Business Demographics Study produced by INFORMA. In September, 8,417 new companies were registered, a 2% decrease compared with the same month in 2025 and, although up 3% on August, the second-lowest monthly figure year to date.

The capital invested to incorporate these companies reached €4.808 billion in the first nine months, up 14% compared with 2025. However, in September investment fell 21.5% year over year and 27% compared with the previous month, standing at €345 million, its lowest level since August 2025. The three companies incorporated in September with the highest investment were Peysa Capital SL (€28.6 million), in Alicante, Data Farm Network SL (€22 million), in Badajoz, and Photonics Developments SL (€15 million), in Valencia.

Nathalie Gianese, Director of Research at Informa D&B, notes: “Business creation in Spain exceeded 101,000 companies in the first nine months, up 8%, and cumulative investment rose 14%, despite the slowdown recorded in September in both incorporations and paid-up capital”.

The companies registered in September involved the appointment of 10,076 administrators, reflecting the prevalence of small governance structures in the Spanish business fabric (with the sole administrator regime the most common). Women hold 22% of these positions, compared with 72% held by men.

In the High Technology sectors, 1,980 companies have been created year to date, representing a 6% increase on 2025 and accounting for 2% of the national total. Cumulative investment in these activities surged 209% to exceed €68 million. Sixty-nine per cent of the high-technology companies launched this year correspond to High-end or high-technology services and 26% to Medium-high technology manufacturing sectors.

Madrid leads incorporations and accounts for 24% of investment

Madrid accounts for 22% of incorporations registered between January and September, totalling 22,096 companies. It is followed by Catalonia, with 19,743 incorporations (19.5% of the total), and Andalusia, with 16,620 (16%). In absolute terms, the largest cumulative increases correspond to the Valencian Community, which added 1,704 incorporations, Catalonia (+1,606), and Madrid (+1,180). Only Melilla and Ceuta have declined since January, down 17% and 12%, respectively.

In September, the regions with the highest volume of new companies were Madrid (1,839), Catalonia (1,541), Andalusia (1,370) and the Valencian Community (1,215). The steepest year-over-year fall in the month was in Andalusia, down 129 companies, while the largest increase was in Catalonia, up 52 incorporations compared with September 2025.

As for capital subscribed since January, Madrid led paid-up capital with €1.149 billion, a 56% rise representing 24% of national investment. Next came Catalonia, with €872 million (+11%), and Andalusia, with €723 million (-29%). The largest absolute cumulative increases were in Madrid, up €412 million, and Castile and León, up €204 million, while Andalusia recorded the sharpest reduction (-€298 million). In September, the Valencian Community led capital invested with €102 million, despite cutting its figures by 7%, while Extremadura recorded the largest monthly increase, up €21 million.

Construction and Real Estate Activities is the fastest-growing sector year to date

By sector, the new companies registered in these nine months were concentrated mainly in Construction and Real Estate Activities, with 26,000 (26% of the total), Business Services, with 15,389 (15%), and Trade, with 14,522 (14%). Construction and Real Estate Activities is also the sector with the largest increase in absolute terms year to date, adding 1,744 incorporations, followed by Financial Intermediation, which gained 1,661 companies. Only Energy recorded a cumulative decline in the number of incorporations, with 181 fewer companies.

In September, Construction and Real Estate Activities again led as the sector with the most incorporations, totalling 2,151, although it recorded a 6% decline compared with the previous year. It was followed by Trade and Business Services, with 1,249 incorporations in both cases. The largest monthly declines were in Construction and Real Estate Activities (-127), Trade (-95) and Hospitality (-85), while Communications posted the largest increase, adding 170 new companies.

As for cumulative investment, Financial Intermediation led by a wide margin in paid-up capital in the first nine months with €2.196 billion, up 53%, accounting for 46% of the national total and representing the largest absolute increase, adding €760 million. It was followed by Construction and Real Estate Activities, with €1.198 billion, down 2.5%, representing 25% of the total. The largest cumulative fall in investment was in Healthcare, down €416 million. In September, Financial Intermediation topped monthly investment with €154 million, despite recording the sharpest decline, €109 million below the same month in 2025.