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New businesses up 6.1% in Portugal

2015 was a “good year” for Portuguese businesses with 37,419 new companies being launched – a 6.1% increase compared to 2014 and an average of 102 new companies every day.

Risk management company Ignios says the data is “very positive” and “proof of a recovering economy”.

“It also shows people’s confidence in this economic recovery, even though the last three months of the year were affected by Portugal’s uncertain political situation,” said CEO António Monteiro.

Bankruptcies (7,288) were also up 7.6% but the negative results were blamed on the collapse of Portugal’s justice portal CITIUS in September 2014 – which left courts at a standstill and bankruptcies unreported.

Monteiro said that without the collapse, bankruptcy figures would have “stagnated”.

michael.bruxo@algarveresident.com