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Access to finance

Spain


				Spain

Summary

According to information from the Small Business Act (SBA) Fact Sheets, the crisis plunged Spain into a deep and prolonged recession between 2008 and 2012, with both large and small enterprises facing negative growth across the board. Among sectors, constructions and manufacturing were hit the most. The reforms currently implemented by Spain should have a positive effect on growth and employment, but their effect will not become evident until 2014. Export performance by SMEs and large companies will be the main envisioned source of growth on the short and medium term. Although faced with significant economic difficulties in recent years, Spanish SMEs have also benefited from a number of positive policy changes, such as better framework conditions and financial support for entrepreneurs, and improvements to the bankruptcy framework providing alternatives to insolvency proceeding for firms in distress. Equally, the transposition and application of EU law is comparatively faster in Spain than in the EU on average. Notwithstanding this positive policy developments, further enhancing Spain’s SBA performance will require significant improvements in access to credit, state aid and public procurement for SMEs, areas which still trail the European averages by considerable margins.

Key indicators on access to finance
SMAF
SMAF gif - 19 KB [19 KB]

Spain ranked 22nd out of 27 countries in the 2012 SMAF Index.

For details on SMAF index and methodology please click here.

Download data excel12book - 593 KB [593 KB]

Loans
Loans gif - 37 KB [37 KB]

Source: Chart compiled using ECB data

Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).

Download data excel12book - 69 KB [69 KB]

Guarantees
Guarantees gif - 34 KB [34 KB]

Source: Chart compiled using AECM data

Download data excel12book - 48 KB [48 KB]

Venture capital
Venture capital gif - 33 KB [33 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

Business angels finance
Business angels gif - 20 KB [20 KB]

Source: Chart compiled using EBAN data (*comparable data for 2011 were not accessible)

Download data excel12book - 29 KB [29 KB]

 

Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs pdf - 405 KB [405 KB]

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