PYME (SMEs), Small and Medium Enterprises

Small and medium enterprises (SMEs) are the backbone of the Spanish economy are job creators, depositories business know-how and source of innovation, contributing very directly to economic and social cohesion. One of the most ensures SMEs European institutions is the European Investment Bank (EIB). The EIB credit lines established in cooperation with national and local financial institutions, which use the funds to finance investment projects in SMEs.

In the period 1986-2008, the EIB credit lines to Spanish financial institutions totaled 21,000 million euros, representing 22% of total Bank's investments in Spain.

In 2014, the EIB has earmarked 66% (7.854 million euros) of its total investments in Spain to support the Spanish SMEs. This amount, together with the 7,700 million of the Horizon 2020 program for R & D in Europe, make Spain one of the EU countries that benefited most from European funds for SMEs.

Late payment directive:

In 2011 the European Union adopted a new directive which was intended to end the commercial delinquencies, an issue that has affected many Spanish SMEs during the years of economic crisis. Among other things, this directive provides that public authorities are obliged to pay their suppliers within a maximum of 30 days (60 in exceptional circumstances) and that companies can claim interest and compensation for the costs that the breach of the deadlines may cause.

Investment Plan for EU:

In November 2014 the President of the European Commission presented the Investment Plan for the EU which aims to revive the economy and growth in Europe through the promotion of public-private investment in key sectors such as, for example, transport, energy, the digital economy and SMEs.

He also called Juncker Plan provides businesses whose project is selected a guarantee that will allow them to obtain financing more easily, because the most important part of the risk would be covered by the guarantee offered by the Plan and will provide the means for them to find investors for your project.

SMEs are an important part of the plan and are expected to participate in it as they make up 90% of the Spanish production. Keep in mind that for the facilities on financing the Plan Juncker there is no quota at national level. This means that companies must first submit a project are more likely to get funding than submit it later. More information about the Investment Plan of the EU single market

Spanish SMEs take advantage of the free movement of persons, goods and capital of the internal EU market. The objective set by the European Commission for the coming years is that the concept of internal market is transferred to electronic commerce, so that SMEs can sell through Internet products and services not only in the country where it is based but throughout the European Union.

With the aim of helping SMEs to expand their business horizons beyond the EU it is currently negotiating a free trade agreement between the European Union and the United States. Upon completion of the negotiations, the Spanish SME - some already have export experience in the United States - will find it easier to expand beyond the European Union.