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