The overwhelming majority of small and medium-sized enterprises are micro, meaning that they employ fewer than ten workers. There were over 15,400 medium-sized firms, meaning 50 to 249 employees. However, the 2.4 million micro firms had a higher number of persons employed than their larger counterparts.
The impact of SMEs in the Spanish economy
SMEs gave the Spanish economy over 275 billion euros per year in value added . In a country where the gross domestic product, or size of the country’s economy, is roughly 1.1 trillion euros, these smaller firms have a significant economic impact on the overall economy.
SMEs and employment
In addition to benefitting the country through added economic growth, they also provide jobs. In recent years, the unemployment rate in Spain has been persistently high. One option for new jobs is to start new companies. Unlike a large incumbent firm, a startup is often able to pivot quickly to provide the most in-demand products and services, which may be in part why Spain’s economy relies so heavily on SMEs.
Number of small and medium-sized enterprises (SMEs) in Spain in 2021, by size
The source adds the following information: These are estimates for 2016 produced by DIW Econ, based on 2008-14 figures from the Structural Business Statistics Database (Eurostat). The data cover the 'non-financial business economy', which includes industry, construction, trade, and services (NACE Rev. 2 sections B to J, L, M and N), but not enterprises in agriculture, forestry and fisheries and the largely non-market service sectors such as education and health.
The following size-class definitions are applied: micro firms (0-9 persons employed), small firms (10-49 persons employed), medium-sized firms (50-249 persons employed), and large firms (250+ persons employed). The advantage of using Eurostat data is that the statistics are harmonized and comparable across countries. The disadvantage is that for some countries the data may be different from those published by national authorities.
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European Commission. (July 1, 2021). Number of small and medium-sized enterprises (SMEs) in Spain in 2021, by size [Graph]. In Statista. Retrieved August 13, 2022, from https://www.statista.com/statistics/880150/number-of-smes-in-spain/
European Commission. "Number of small and medium-sized enterprises (SMEs) in Spain in 2021, by size." Chart. July 1, 2021. Statista. Accessed August 13, 2022. https://www.statista.com/statistics/880150/number-of-smes-in-spain/
European Commission. (2021). Number of small and medium-sized enterprises (SMEs) in Spain in 2021, by size. Statista. Statista Inc.. Accessed: August 13, 2022. https://www.statista.com/statistics/880150/number-of-smes-in-spain/
European Commission. "Number of Small and Medium-sized Enterprises (Smes) in Spain in 2021, by Size." Statista, Statista Inc., 1 Jul 2021, https://www.statista.com/statistics/880150/number-of-smes-in-spain/
European Commission, Number of small and medium-sized enterprises (SMEs) in Spain in 2021, by size Statista, https://www.statista.com/statistics/880150/number-of-smes-in-spain/ (last visited August 13, 2022)
