According to the Iberinform database, which aggregates companies from all over the country in a directory, the remaining 10 municipalities have 27% of the companies in the district of Faro, which in total has 16 municipalities.
Data shows that there is a “predominance of micro-enterprises [up to 10 employees and a turnover of up to two million euros]” in the region, corresponding to around 89% of the total business fabric.
“However, despite their representativeness in numbers, micro-enterprises contribute only 13% of the district's total turnover”, says the company, which is a subsidiary of Crédito e Caución, a Spanish credit insurance company.
Small companies (from 11 to 50 employees and a turnover of up to 10 million euros), which represent around 10% of the total, lead in terms of turnover, contributing with 31% of the total value, he adds.
Still, according to data from Iberinform, medium-sized companies (from 51 to 250 employees and a turnover of up to 50 million euros) make up approximately 1% of the total and earn around 29%, while large companies represent less than 1% and are responsible for around 26% of the total turnover.
The construction sector has 13% of companies and a contribution of 13% of turnover, while the services sector has 42% of companies, accounting for 28% of turnover.
Iberinform considers the “remarkable positive impact” of companies classified as “others” in the Algarve, which make up 31% of the total, contributing 51% of the district's total turnover.
According to the data, companies formed in the last five years represent 40% of the total in the region and generate 10% of the total volume of business.