São Paulo – The number of new businesses was up 25.5% year on year in November 2019, to 257.697, as per a survey from credit bureau Serasa Experian. Month on month, though, it saw a 16.2% decline. Year to date through November saw 2.9 million new companies, up 23.3% year on year.
The number of new business were higher in the North Region, up 36.3% year on year in November. It’s followed by the Northeast (27.3%), Central-West (26.3%), South (24.8%) and Southeast (24.2%). “With formal employment generation still slow in the Brazilian economy, entrepreneurship has been an escape valve to develop economic activities,” Serasa Experian economist Luiz Rabi explained.
Translated by Guilherme Miranda
PUBLICIDADE
