In Spain, Instituto de Crйdito Oficial (ICO), a state-owned corporate entity attached to the ministry of economy and finance, plans to create a new mechanism to assist in meeting the finance needs of the small-and medium-sized enterprises (SMEs) i
Spain’s foreign direct investment (FDI) has dropped for a third year due to competition and an outdated low-cost labour strategy.
“Factoring activity in Spain continues to outpace the performance of the general economy, with factoring turnover in 2003 rising 18.12 per cent to Ђ37,486m from Ђ31,789m in the previous year…”
Asociacion Espanola de factoring (AEF), the Spanish factoring association, has released figures for 2003 showing a factored total of Ђ37.49 million, an increase of 18.22% compared to Ђ31.71 million for 2002.
The Spanish treasury has confirmed that the modular business tax payment system for small- and medium-sized enterprises (SMEs) will be frozen in 2004. Previously, SMEs that joined this system paid tax according to their actual profits.
In an unusual move, BBVA Seguros, the insurance subsidiary of Spain's second largest bank, BBVA, has teamed up with an insurance company to design an insurance package for small and medium-sized enterprises (SMEs).
Juan Costa, the Spanish trade secretary, announced a plan to develop Spanish commerce and investment in the ten countries that are candidates to join the EU in 2004, and Romania and Bulgaria, which are candidates to join in 2007.
FonsInnocat, the capital risk fund of the regional government of Catalonia, Spain, created in May 2002 to help innovative SMEs, is preparing to make three new investments this year.
Francisco Abril, the general manager of Spanish factoring company Inter-factor Europa, was given an audience with King Juan Carlos I of Spain.
Figures released by the Spanish Factoring Association reveal that all industry players in Spain have a higher factored volume in the nine month period ended September 2001 than in the corresponding period in 2000.
