The Barometer of the Círculos, now in its fourth edition, maintains its commitment to Spanish society to help resolve the imbalances that persist in the wake of the recent economic crisis. This objective is shared by the Círculo of Entrepreneurs, the Círculo of Economy and the Círculo of Basque Entrepreneurs, and has been since the … Continued
Financing sources Between 2010 and 2015, the non-financial companies on the IBEX 35 reduced their debts with credit institutions by 39.8%, from 138 billion euros to 83 billion euros. In terms of balance sheet structure, bank financing (% financial liabilities) for these companies went from 53 to 36.5%. Likewise, fixed income financing (corporate debt) increased … Continued
Barometer of the companies Investment The Barometer of Deloitte shows that of the 280 companies that were surveyed, 66% claim to have increased investment during the first half of 2015 –the greatest increase since 2008– as against the 58% of the same period in 2014. The principal reasons for these investment decisions were expanding business and technological changes. By intervals, 48% of … Continued
Portfolio At the end of 2014, the risk capital sector had 2,134 companies with assets of more than 20,000 million euros. This was 1,300 million euros less than in 2013 due to international disinvestments. In aggregate terms, in 2014 these companies invested an average of 8.6 million euros and provided jobs for 585,000 workers (up … Continued
Spain needs larger companies to make its economy more competitive and stable and thus meet the challenges of the global economy. At present, 99.3% of the country’s firms are micro-enterprises or are classified as small (fewer than 50 employees), a situation that is in sharp contrast to Germany, the UK and the USA, where the … Continued
Industry Industrial fabric The small size of companies is one of the principal structural problems of Spanish industry. Only 17% of the industrial companies have 10 or more workers, as against 44% in Switzerland or 38% in Germany (Deloitte). Our companies have an average size of 10 workers, whereas the average for Europe is 17.
Reindustrialization in Spain There has been a slight improvement in the industrial sector in Spain: Industrial production in January increased 0.4% year-on-year (adjusted for seasonal effects and calendar), mainly thanks to the energy sector (+3.9%) and capital goods production (+1.1%) (Index of Industrial Production, INE). Investment in capital goods increased 10.3% year-on-year in the 4Q … Continued