During 2018, 7,123 registrations of new commercial registries were registered in the jurisdiction of the Chamber of Commerce of Manizales by Caldas, 50.9% of natural person entrepreneurs, 36.1% of commercial establishments and 10.1% of Simplified Society by Shares SAS mainly. The number of registrations showed a slight variation of -0.8% compared to the amount of registrations in 2017, while the registrations of natural persons showed a variation of -2.6%, the commercial establishments of 0.3% and the SAS 2.5%, these being the ones with the highest relative growth. In this way, the dynamics of the registrations of the natural person registries were the ones that had the greatest pressure for this variation of -0.8% in 2018.

Regarding renewals, there were 36,221 renewals of registrations in the jurisdiction, showing a drop of -4.4% compared to 2017. The renewals of natural person, business establishment, SAS and Non-Profit Entity were those of greater participation, with figures of 40%, 42.9%, 8.5% and 3.1% respectively. The contraction of -4.4% in the flow of renewals during 2018 is explained by 2.7 pp by natural person registrations, which registered a variation of -6.6%, followed by a 1.6 pp contribution from registrations of commercial establishments, which had a drop of -3.8% compared to the amount of renewals in 2017. And during 2018 there were 6,145 cancellations of registrations, which generated a slight variation of 1.3%, with legal organizations most representative in the flow are natural person registrations (58.1%), followed by commercial establishments (36.8%) and SAS (2.8%). Of the 1.3% growth in cancellations, the greatest contribution comes from the increase in cancellations of natural person registrations, with a variation of 2.7%, since the commercial establishments had a negligible variation of 0.2% and the SAS of -5.6%.

In this way, it is possible to affirm that the business flow in the jurisdiction was slightly clouded by the unfavorable behavior in terms of registrations, renewals and cancellations of natural person registrations. This conclusion can be verified for the registration movement in Manizales, where natural person registrations show a variation of -2.8%, while registering a growth of 4.5% in cancellations and a contraction of -8.7% in renovations. Registers of legal entities and commercial establishments show variations in registrations of 0.3% and 2.7%, cancellations of -10.3% and 0%, and in renewals of 0% and -5.1% respectively. This last negative behavior (renovations of commercial establishments) could be associated with the volume of property of natural person entrepreneurs of the same.

In the case of Manizales, disaggregating the behavior of enrollment according to associated assets and economic activity, there is very positive news regarding entrepreneurship. Despite the fact that the increase in the amount of registrations (natural person + legal person) was only 0.2%, going from 2,861 in 2017 to 2,868 in 2018, investment (capital associated with registration) had a strong increase of 81 , 1%, reaching $ 92,140.8 million current pesos in 2018.

Regarding the volume of enrollments, the sectors with the highest representation were commerce (39.7%), accommodation and food services (16.9%), industry (7.7%), other service activities (6%), construction (5.3%) and professional, scientific and technical activities (5.2%). On the other hand, compared to investment, 24.9% was contributed by companies in the professional, scientific and technical activities sector, 19.5% by the commerce sector, 12.1% by agriculture, 12% by construction and 5.6% for real estate activities. So far, the most dynamic sectors in Manizales during 2018 would be shown. However, the sectors with the greatest contribution to the variation of 81.1% in the associated capital of these new companies in 2018 are not yet known. Calculating this contribution is obtained that 39 pp come from the professional, scientific and technical activities sector, followed by 16 pp from commerce, 12 pp from agriculture and 11 pp from construction, which would define those sectors with greater investor confidence in 2018 for Manizales. Indeed, these sectors show variations in the amount of investment, compared to 2017, equal to 683.3%, 81.1%, 122.6% and 103.3% respectively.

In this way, the figures for the incorporation of companies during 2018 in Manizales show a positive outlook in business matters, giving signs of the potential of the city in terms of entrepreneurship and business. It is worth remembering that, according to the Doing Business 2017 of Colombia published by the World Bank, Manizales stands out as the city where it is easier to do business in the country.

Addendum. We invite all our readers to know our Economic Studies website: where we seek to contribute to the monitoring of the main macroeconomic variables of the city and the department, the generation and dissemination of information and timely knowledge of the economic and business dynamics of the region and participation in various city spaces in search of the benefit of the territory.

Economic Studies |
Innovation and Regional Development Unit
Manizales Chamber of Commerce by Caldas
Telephone: 8841840, ext. 506