Sage has just launched in conjunction with CEBR (Centre for Economic and Business Research) his study SMBs Driving Economy Recovery. This report analyzes the role of SMEs in eight key markets (Canada, France, Germany, Ireland, Portugal, Spain, the United States, and the United Kingdom), using historical data from 2005 to forecast growth and contribution for the period 2022-2025. .
The report reveals that despite the current uncertain economic situation, SMEs remain resilient globally and will continue to contribute significantly to the growth of local economies in the coming years. Specifically, the forecasts in the report indicate that The number of SMEs in Spain will grow by 63,000 between 2022 and 2025, reaching 2,763,600 at the end of the period. This represents a year-on-year increase, on average, of 0.8%. Overall, the average year-on-year growth of this type of company will stand at 1.7% in the eight markets studied.
In addition, their economic contribution will also be maintained during this period: it is expected that reach 317.2 billion euros in 2025, assuming 58.1% of the Spanish business GVA. This is due to an expected average year-on-year growth rate of 1.5% from 2021. For 2023, growth in SMEs is expected to slow down, due to the inflationary crisis. However, the growth figures of 0.7% and 0.6% in the number of SMEs and contribution, respectively, forecast for this year, reinforce that these will continue to be resilient despite the worsening economic outlook, seeing an increase in its growth in 2024.
Economic recovery
At a global level, the report carried out by CEBR also underlines the vital role of SMEs in the economic recovery after the global financial crisis of 2007-2009, and projects a similar trajectory in the future. In 2012, for example, SMEs in the European countries analyzed contributed at least 48% of all business productiona clear sign of its importance in leading the economic recovery.
José Luis Martín Zabala, general director of Sage for Spain and Portugal, affirms: “Due to this economically turbulent period that we are going through, we wanted to quantify the role and importance of SMEs in the recovery. Although we do not underestimate the challenges that small entrepreneurs face today, we can say that SMEs are prepared and well positioned to adapt to this changing landscape. It is also encouraging to see that these companies continue to play a fundamental role in driving the growth of economies globally.”.
