Spanish SMEs provide jobs for 71% of social security contributors

700,000 SMEs close 2023 with losses

As many as 700,000 SMEs, 23%, closed with losses in 2023, compared to 64% that closed with profits, as announced this Tuesday by the barometer of the General Council of the Colleges of Administrative Managers. The barometer was developed during the week of February 5 to 9, through consultation among 6,000 administrative managers. According to their data, 26% of SMEs invoiced less in 2023 than in 2022, compared to 47%…

Europe SMEs

SMEs: with the odds stacked against them

Francisco Vidal | Covid, inflation and the new minimum wage hike are just additional problems for SMEs that suffer “a regulatory burden that suffocates them: a commercial establishment opening its doors in 2021 in any Spanish city would be affected by more than 3,000 regulations, from European to municipal”. SMEs make up the heart of Spain’s productive fabric and, in fact, by the end of 2022 there were 2.9 million…


The 12,000 Spanish SMEs Selling On Amazon Exported €650 M In 2020, 30% More Yr-on-Yr

Amazon published yesterday the “Report on the impact of Amazon on Spanish SMEs 2021,” where it flags that the 12,000 Spanish small and medium-sized companies sellling on Amazon have registered more than 650 million euros in exports in 2020. This is an increase of more than 30% compared to the previous year. In addition, they have created more than 30,000 jobs in Spain and another 3,000 abroad. Despite the difficulties…

Spanish SMEs provide jobs for 71% of social security contributors

Only 15% Of Spanish SMEs Will Create Employment In 2021

According to information gathered from nearly 1,000 SMEs throughout the country by the General Council of Economists (CGE) and the Faedpyme Foundation, with the collaboration of the Spanish Chamber of Commerce, only 15.4% of Spanish SMEs believe that they will create jobs this year, while 74.9% believe that they will maintain them and 9.6% that they will reduce them.

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Spain In The Digital Race

CaixaBank Research | The coronavirus crisis has highlighted the importance of digitalisation in disruptive contexts such as the present. Economic activity has held up better in more digitalised countries: a greater number of companies have continued to operate at the height of the pandemic, the public sector has been more effective and quicker in helping households and firms most in need, and in people’s homes digitalisation has enabled teleworking and has allowed the younger generations to continue to study remotely. Where does Spain stand in this field?

Spanish public debt

Three Funds For The Spanish SMEs’ Aid Package

The new 11 billion euros stimulus package for the financial equilibrium of hotel and tourism firms, as well as small businesses, will get the green light from the government at the end of the week. This aid scheme will be backed by three funds to provide direct help for companies : one with aid to affected businesses channelled by the autonomous communities, a second one for the conversion of ICO credits and a third one for the recapitalization of medium-sized companies.


Spain Announces A Final Aid Package Of €11 Bn For SMES And The Self-Employed

The Government will approve in the coming weeks to earmark €11 Bn in subsidies for companies, SMEs and the self-employed in sectors particularly affected by the economic crisis, such as tourism, hotels, restaurants and small businesses. The aid plan could include haircuts on the financing provided by the Official Credit Institute ICO, which has offered €140 Bn in guarantees. The employers’ associations from the retail and hotel and catering sectors had demanded €12.5 Bn in aid from the different administrations in order to save both industries.

The effects of the crisis on Spanin's businesses' productivity and competitiveness remain

Default Rates May Triple To 12% This Year, says IMF

The International Monetary Fund warns that the number of SMEs companies facing bankruptcy could triple if there is not enough aid from governments to support the economic recovery after Covid 19. Italy would be at the forefront of the defaults. The organisation’s director, Kristalina Georgieva, thinks eliminating prematurely the aid granted by the States could mean a greater cost in the long-term than the one countries are currently facing with the programmes for reactivating the economies.

Spanish SMEs provide jobs for 71% of social security contributors

Spain Approves 20 Bn euros In Guarantees For SMEs And Self-Employed Workers

Half of the line of guarantees’ first tranche, amounting to 20 billion euros, will be earmarked for SMEs and the self-employed, guaranteeing 80% of new loans and financing renewals. The remainder will go to medium and large companies. In the latter’s case, up to 70% of new loans will be guaranteed, while loans’ renewals will be guaranteed up to 60%. Once the resources are used up, the government will automatically activate new tranches of credit lines up to the maximum target of 100 billion euros.

BBVA Holvi

BBVA Aims To Become The Financial Partner For British SMEs And Freelancers

Holvi, the digital banking startup for freelancers acquired in 2016 by BBVA, has announced its entry into the United Kingdom, the third largest market it has broken into after Germany and Finland. Its aim is to become the financial partner of British SMEs and freelancers, thanks to its range of digital accounting tools.