Business sector
Greater development of Madrid’s business sector, characterized by a larger business size than Spain’s average.
The number of companies established in the Community of Madrid as of January 1, 2010, according to the Central Business Directory (DIRCE) published by the INE, reached a total of 503,501, meaning there are 78.1 companies per 1,000 inhabitants. This increased by 8 since the year 2000, 2 more than the national average.
The most dynamic period was observed between the years 2003-2007. Although the financial crisis has resulted in a decrease of 4.9 companies per 1,000 inhabitants, business density in the Community of Madrid remains higher than the average in Spain as a whole (70.1 companies per 1,000 inhabitants) throughout the entire period, thus reflecting Madrid’s position as a focal point for creating and attracting companies on a national and international scale.
Of the 503,501 companies in Madrid, more than 292,000 are companies without salaried employees (58.0%), while 36.6% have fewer than 10 employees. These numbers are in line with the observed figures.
However, Madrid has a slightly greater relative importance regarding companies with 50 to 200 employees and those having over 200 employees. Such companies make up 1.2% of its total, compared to 0.8% in Spain, which is 47% more.
As proof of the Community of Madrid’s ability to attract corporate offices, it is worth noting that the region is home to 35.1% of the country’s companies that have over 200 employees.
The service sector has a significant relative importance in Madrid, comprising 80.9% of the Community’s total companies, with a particularly greater relative importance when compared to the national average for specific advanced service activities such as “professional, scientific and technical activities”, “health-related activities”, “administrative activities” or “education”.
Within the service sector it is worth highlighting the degree of specialization in areas related to the “audiovisual sector”, “programming, consultancy and other IT-related activities”, “air transportation”, “employment-related activities” and “advertising”.
On this note, tertiary activities such as “commerce” and the “hotel industry”, secondary activities such as “industry and energy” or “construction”, specifically, have a relative importance below the national average.
Within the industrial fields, of greatest relative importance are activities in the “energy industry”, “graphic arts”, “pharmaceutical product manufacturing” and the “industry of computer, electronic and fiber optic product manufacturing”, among others.
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