Over 26,000 companies were founded in Portugal between January and August this year – a 10.5% increase compared to the same period in 2014.
This means that an average of 108 new companies were created every day.
However, the number of insolvencies (4,955) is also up 2.7% compared to last year.
The data was revealed by risk management company IGNIOS in its monthly bulletin.
It found that most of the newly-founded companies were based in Lisbon (28%), Porto (18.8%) and Braga (8.2%).
Portugal’s retail sector leads the boom with 3,182 new companies, followed by the “accommodation, restaurant and vehicle sale” industries.
Executive administrator of IGNIOS António Monteiro said he believes the positive tendency will continue.
“The positive economic data, such as GDP growing for seven consecutive trimesters, indicates that business people’s confidence will continue to strengthen, which is why the number of new companies should be higher (this year) than the two previous years,” he said.