In 2024

Number of enterprises in the Autonomous Region of Madeira and their turnover and employment grew above the national average compared with 2023

The Regional Directorate of Statistics of Madeira (DREM) is today making available, on its official statistics portal, a set of tables relating to financial and non-financial enterprises headquartered in the Autonomous Region of Madeira (ARM), covering the period 2019–2024. Notably, the information for 2024 is already of a final nature. It should also be noted that, in January 2026, DREM will release data on business demography, followed by information on establishments in April 2026.

In 2024, there were 35 903 enterprises headquartered in the ARM, of which 253 were financial enterprises and 35 650 were non-financial enterprises. Of the total, approximately two out of every three (64.6%) were sole proprietorships, while one in three (35.4%) were companies. A total of 104 712 persons were employed in enterprises headquartered in the ARM, of whom 104 293 worked in non-financial enterprises and the remaining 419 in financial enterprises.

As previously mentioned, in 2024 the number of non-financial enterprises in the ARM amounted to 35 650, representing an increase of 1 956 enterprises (+5.8%) compared with the previous year. At the national level, the number of non-financial enterprises increased by 4.4% compared with 2023.

With regard to employment, overall growth of 6.5% was observed compared with 2023, bringing the total to 104 293 persons (+4.4% nationally). This increase resulted more from the rise in employment in companies (+6.8%) than in sole proprietorships (+5.6%). It should be noted that 77.1% of total employment was concentrated in companies.

Regarding average size (persons employed per enterprise), in 2024 each company headquartered in the ARM employed, on average, 6.40 persons. At the national level, the average was higher, at 7.22 persons.

In terms of size classification, enterprises in the Region belong almost exclusively (99.91%) to the group of small and medium-sized enterprises (SMEs).

Within this group, the majority are micro-enterprises (95.79% of SMEs). In 2024, the number of medium-sized non-financial enterprises stood at 215 (+17 compared with 2023), while large enterprises did not exceed 32 (-2 compared with 2023). At the national level, SMEs accounted for 99.90% of enterprises.

The turnover of non-financial enterprises headquartered in the Region increased by 6.5% between 2023 and 2024, reaching 10.4 billion euros (+3.8% nationally). Gross Value Added (GVA), broadly corresponding to the difference between output and intermediate consumption, rose by 14.9% to approximately 3.4 billion euros. Net profit for the period also recorded a positive performance compared with 2023, increasing by 11.1% to 1.7 billion euros.

Companies generated 92.8% of total business GVA (93.2% in 2023), while SMEs accounted for 76.5% (74.8% in the previous year). In turn, the 32 large enterprises headquartered in the Region concentrated 23.5% of total GVA generated (25.2% in 2023).

An analysis by economic activity sector shows that “Accommodation and food service activities” (23.2%, 796.0 million euros), “Other services” (20.4%, 700.4 million euros) and “Construction and Real Estate Activities” (19.1%, 655.8 million euros) were the main contributors to business GVA. These were followed by “Trade” (13.5%, 462.8 million euros) and “Industry and Energy” (9.2%, 315.1 million euros).

Compared with 2023, and still with regard to business GVA, among the sectors that recorded growth, “Construction and Real Estate Activities” (+29.6%), “Accommodation and food service activities” (+22.3%), “Agriculture and Fisheries” (+21.5%) and “Other services” (+13.1%) stand out.

For further information, please refer to:

• In Focus (Portuguese only)
• Tables
• Time series

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