21,480 New Businesses Created in Medellín During 2024

At the end of 2024, Medellín reported 118,441 active companies, which represented a 3.5% increase compared to 2023. These results were achieved thanks to the connection between the public and private sectors, the reactivation of the University-Business-State Committee (CUEE), and the trust between unions, the public sector, and citizens, says the office of Mayor Federico Gutierrez.

While Colombia as a whole saw a decline in business creation, Medellín strengthened its business network, especially in sectors such as commerce, restaurants and hotels, insurance and finance, and the manufacturing industry, which showed greater dynamism during 2024.

“According to data provided by the Medellín Chamber of Commerce for Antioquia, we will close 2024 with a business base of 118,441. That represents an increase of 3.5% compared to 2023. This means that, in a context in which the country has been declining in business creation, Medellín shows strong entrepreneurial and business dynamics and, above all, a capacity for collaboration between universities, businesses, and the state. Furthermore, it allows for continued job creation, as well as economic and social dynamics, which translates into well-being for citizens and their families,” said the Secretary of Economic Development, María Fernanda Galeano Rojo.

Between January and December 2024, 21,480 new businesses were created, according to figures from the Medellín Chamber of Commerce for Antioquia. This growth demonstrated renewed confidence in the city and the commitment of local entrepreneurs. Business creation is a fundamental pillar for generating well-being in the community and for Colombia’s progress from the regions, driving economic and social development.

These results reflect the commitment, innovation, and determination of local entrepreneurs, who continue to invest in job creation in Medellín. This has been reflected in the last four DANE surveys, in which the Antioquia capital recorded the lowest unemployment rate in the country, reaching 6.5% in the October- December quarter.

Photo credit: City of Medellín.