There are more and more SMEs in Spain, is this an upward trend?

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The business sector in Spain has grown exponentially. More and more entrepreneurs are opting for a start-up company for their ideas and projects, showing an increase in this first quarter of 2024. Is this an upward trend?

Looking at the latest SME Figures report published by the Directorate General for Industry Strategy and Small and Medium-sized Enterprises, it is clear that there are more and more SMEs in Spain . This is a very positive fact regarding the health of the business sector in Spain , with growth that, after years of uncertainty, is a breath of fresh air.

How many SMEs will there be in Spain in 2024?
According to the report, there are currently a total of 2,946,480 companies in our country. Of these, 2,940,525 are SMEs with less than 250 employees (i.e. 99.8 % ); the remaining 5,955 have more than 250.

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And there has been a notable growth in the first half of 2024 ; specifically, 63,291 new companies in Spain. A figure that translates into a growth of close to 4% compared to the same period in 2023 , and which marks a growth trend that reflects a strengthening of the Spanish business fabric.

Why is the percentage of SMEs in Spain growing?
There are several reasons why the percentage of SMEs in latvia phone number lead Spain is growing, but it is necessary to understand in advance which are the economic sectors most in demand by SMEs ; in Spain they are commerce, hospitality, industry and logistics .

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There is a recovery in domestic consumption , which has caused these sectors to grow, especially trade and hospitality. In addition, exports have increased , and there is a perception of greater business confidence that helps to invest in new companies.

There is another very important point: state aid for the digitalisation and modernisation of SMEs . The arrival of the European Next Generation funds, the Digital Kit and other factors have helped to boost the business fabric in Spain.

According to the report, Madrid, Catalonia and Andalusia lead the way in terms of company creation, with 14,102 , 12,472 and 10,075 new companies , respectively. The companies created were related to the trade sector (20% of newly created companies), followed by the real estate and insurance sectors (17%), construction (13%) and the hospitality industry (11%).

This diversification shows that trade is the main driver , although there are more and more sectors that contribute to economic strengthening. A stability that has also been seen in the number of company dissolutions , to the point that they have decreased by 6% compared to the same period of the previous year, which indicates greater solidity in newly created companies.

There is also another positive fact: the average capital subscribed when setting up an SME has increased by 25.9% to reach an average of 50,000 euros. This optimistic context suggests that, as long as these policies to support SMEs are maintained, there will continue to be an upward trend in terms of newly created companies.