A report published by the Spanish consultant Bofax SA has revealed that more than 1,000 companies started up in the Spanish information technology sector in the first four months of 1996. An average of 263 new companies emerged each month, 36.6% more than during the same period last year, although it should be borne in mind that some 30% to 40% of these start-ups are transformations of companies that already existed or businesses that have changed their legal status. Of the new companies, 37% are based in the Madrid area, 22% are in Catalonia, 9% are in Valencia, 7% are in Andalusia and 4% each are in Galicia and the Basque Country.
