São Paulo Sets Record with Over 309,000 New Businesses in 2024

The state of São Paulo has witnessed a remarkable surge in entrepreneurship, with 309,934 new businesses established by October 2024. This figure surpasses the previous year’s total of 307,326, as reported by Jucesp, the Commercial Registry of São Paulo, affiliated with the Economic Development Secretariat.

October marked a significant milestone with the highest monthly business openings in history, totaling 35,406. Additionally, the month recorded the largest net monthly increase of 23,059 businesses and an unprecedented cumulative net increase for 2024 of 186,247. This surpasses the previous annual record of 177,628 set in 2023.

These achievements represent São Paulo’s eighth record-breaking performance in 2024. Prior to October, the state had already exceeded previous records twice, with 32,411 businesses opened in April and 33,975 in July. It also set new net increase records in August (20,107) and September (21,663).

Over ten months, São Paulo consistently registered over 30,000 new businesses in six months. The last four months saw an average of 33,858 new business formations per month. These figures exclude individual micro-entrepreneurs (MEIs).

Economic Development Secretary Jorge Lima attributes this success to initiatives like easier access to credit and support programs for small and micro-businesses. These efforts have positioned São Paulo as the “epicenter of Brazilian entrepreneurship.”

Lima emphasized São Paulo’s advantages for attracting new businesses: robust logistics, a strong consumer market, and a favorable business environment. He highlighted ongoing efforts to reduce bureaucracy under Governor Tarcísio de Freitas’s leadership to foster growth and economic contribution from entrepreneurs.

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error