Here is the rewritten version:
International SME Day Recognizes Significant Contribution to Global Economy
The United Nations has designated June 27 as International Small and Medium-sized Enterprise (SME) Day to raise awareness about the vital importance of SMEs in the global economy. SMEs represent 90% of all organizations, account for 60% to 70% of employment, and contribute 50% to global Gross Domestic Product (GDP).
In Spain, 99.8% of the business landscape comprises SMEs. According to the latest statistics, there are 2,940,525 small and medium-sized enterprises operating in the country, a 9,556-increase from the previous year. In contrast, the number of large companies has declined by 439. However, small businesses have experienced a modest annual growth rate of 0.33%, whereas large corporations have seen a significant increase of 7.96%.
Business creation is key to driving economic growth, despite many SMEs failing to survive beyond their three-year mark. To encourage new business ventures, Spain has introduced various measures, including the reduction of costs and regulatory obstacles. The country has also seen a reduction in the minimum capital required to set up a Limited Liability Company, which was previously set at 3,000 euros.
However, SMEs continue to struggle when it comes to securing financing to compete with large corporations. Most SMEs (81%) in Spain rely on personal savings to finance their startup, while 26.5% receive bank loans. The National Federation of Self-Employed Workers Associations (ATA) stated that two out of three self-employed workers and SMEs do not seek aid funded by European funds due to the bureaucracy of the application process and unclear information about available options.
To address these challenges, SME Club has launched a new personalized advisory service focused on business creation. The service provides entrepreneurs with comprehensive advice on business structure to maximize benefits and minimize legal responsibilities. Having access to outside expertise throughout the business setup process can establish a solid foundation for success.
“We have decades of experience advising entrepreneurs in different sectors, offering a comprehensive service that covers all the aspects necessary to successfully launch a company,” said Casimiro Garcia, CEO of SME Club.
The advisor service aims to optimize business strategy, ensuring compliance with all necessary legal and tax regulations from the moment a company is established, and providing peace of mind against legal problems and costly fines. For entrepreneurs seeking support, SMA Club’s expertise offers a step-by-step guide for launching a successful startup.
