High growth businesses may have a humble profile in Spain, but they are successfully ducking one of the direst economic downturns in the country–and Europe.
Some 221 companies mostly in the wholesale and retail trade sector have expanded during the last three years at an above-20 percent rate, according to finance solution provider Iberinform. The majority of them have a below €10-million turnover and less than 50 employees, and 84 percent are private limited companies.
Although 40 percent work in the trade sector, 8 percent belong to the construction category followed by food and transport.
“Even if an 80 percent are mall and medium size companies,” said Yon Munilla, Iberinfom director general, “it’s encouraging to find businesses that have multiplied their sales by 30 in one of the hardest moments of our economic history.” Munilla noted that Spanish companies with high growth have increased in volume, as in 2008 medium ones were 6 percent of the total and the figure is now 22 percent.
Barcelona hosts 20 percent of them, 25 percent in Catalonia, while 15 percent are based in the Valencia region and 12 percent in the Madrid region.