In July 2024, Rio de Janeiro achieved a historic milestone with a record-breaking number of new business openings. A total of 7,315 new companies were registered, marking the best performance in the state’s 215-year history according to the Rio de Janeiro State Commercial Board (Jucerja).
This surge in entrepreneurship represents the fourth record-breaking month of the year and the second consecutive month of exceptional growth. The figures for July 2024 show a 5% increase compared to the previous record for the month and a 9.6% rise from the same period last year.
The breakdown of the new businesses includes company formations, branch openings, and transfer registrations. The main activities of these new enterprises range from office services to retail and restaurants.
Factors Contributing to Growth
Rio de Janeiro’s Governor attributes this success to the state’s favorable business environment facilitated by efforts to simplify and reduce bureaucracy in business processes. These initiatives aim to boost economic and social development in Rio de Janeiro.
Comparison and Economic Performance
While Rio de Janeiro’s economy is on the rise, São Paulo also shows remarkable growth in new business registrations and GDP performance. The surge in business creation across major Brazilian cities reflects a positive trend of economic recovery and growth.
Overall, these record-breaking business openings in Rio de Janeiro indicate a promising momentum in Brazil’s business landscape, particularly in the service sector and urban centers.
Historic Business Boom in Rio: Highest Openings in Over Two Centuries