By Brazil Stock Guide – Brazil opened a record 5.1 million companies in 2025, the highest figure in the country’s historical series, as a surge in small-scale entrepreneurship pushed new business registrations 18.6% above the previous year. The data are based on new CNPJ registrations issued by Receita Federal, according to a survey compiled by Sebrae, a public-interest body that supports small businesses in Brazil through training and credit guarantees, in early January.
The expansion was overwhelmingly driven by small businesses. Microempreendedores Individuais (MEIs) accounted for 3.8 million openings, followed by 927,000 microenterprises and 207,000 small companies. Together, these segments reinforced the central role of small firms in Brazil’s economic fabric, particularly in job creation and income generation.
Services dominated entrepreneurial activity, representing nearly 64% of all new businesses, or about 3.2 million companies. Commerce followed with 1 million openings, while industry (383,000), construction (344,000) and agriculture (72,000) trailed behind. Regionally, São Paulo led with 29.57% of total openings, ahead of Minas Gerais at 10.49% and Rio de Janeiro at 8.22%, underscoring the concentration of entrepreneurship in Brazil’s most populous states.
The pace of business formation has steadily accelerated since the pandemic. Openings of MEIs, micro and small companies totaled 3.2 million in 2020, 3.9 million in 2021, 3.7 million in both 2022 and 2023, and 4.1 million in 2024, before reaching the new peak in 2025. The most common activities last year included road freight transport, delivery and courier services, advertising, beauty services and education, reflecting a service-led and increasingly flexible economy.