São Paulo – August 2019 saw 284,143 businesses started in Brazil, up 1% from July, according to the Business Birth Indicator from credit bureau Serasa Experian. Year-to-date through August, 2.1 million companies went in business, up 20.7% from the year-ago period. Year-on-year in August, the number of new businesses increased by 16.6%.
“This hike shows that despite the challenging economic scenario in the country, people are being able to keep their businesses going. Proof of that is we recently determined that 88% of individual microentrepreneur businesses established over the last two years are still in business,” Serasa Experian economist Luiz Rabi said. According to him, individual microentrepreneurs are managing to keep afloat in Brazil these days.
Year-to-date through August 2019, 53.1% of new businesses are in Southeast Brazil. Next up are the South, Northeast, Midwest and North. Services made up 68.2% of new businesses through August of this year in Brazil, with trade accounting for 23.6% and industry for 7.5%.
Translated by Gabriel Pomerancblum
