ALICANTE registers a big increase in new businesses being set up this year
Alicante in the Costa Blanca has registered a large increase in the number of new companies being established, however these tend to be small in size and employ fewer workers. According to the latest data released by the National Institute of Statistics (INE), an additional 2,498 businesses have been registered, but only 282 of these have more than five employees. The INE reported that this is the sixth annual increase in the region.
The increase in 2020 is largely attributed to the coronavirus pandemic, with people who have found themselves unemployed choosing to set up their own business.
However, it is not the good news it may seem on the surface as the Institute of Economic Studies of the Province of Alicante (Ineca) warns that these small business may not have the ability to compete with bigger firms once the market picks up.
A new report from the institute warns that this transfer that is taking place “is not a good indicator of the strength of our companies.”On the one hand, the report adds, “because it seems that some of them can only endure the crisis and remain in the market by sacrificing the human capital they have available.”
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