According to the data released on business creation in Portugal, a total of 536 companies started their activity in the Azores in the last 12 months, which represents a ratio of four companies for each company that closed down.

Speaking to journalists on the sidelines of an audience with new administration board of Banco Espírito Santo dos Açores, the Vice-President of the Government, Sérgio Ávila, considered that this is a very important indicator, being the best national ratio between companies that close down and the creation of new ones.

"In the last 12 months, the Azores were, by far, the Region with the greatest capacity to create new businesses," the government official said, adding that the national ratio is of two new companies for each company that closed down (in Madeira the ration is of 1.5:1).
For Sérgio Ávila, this indicator evidences that the regional business structure is currently undergoing "a period of revitalisation and growth."

The government official alluded to the words of the Vice-Prime Minister, Paulo Portas, who stated that the national ratio of two companies that are being created for each company that closed down is the best indicator demonstrating that the country "is on the right track." In this regard, Sérgio Ávila stressed that the "Region has all the conditions to enhance our development and boost business activity."

The Vice-President also noted that this stimulus requires "the existence of a financial system in the Region that provides the necessary conditions to consolidate the implementation of emerging companies, with the support of the incentive schemes available in the Region and its financial system.