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This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at La 'Small Business Act' moviliza 100.000 millones a favor de los emprendedores y pymes

The Small Business Act is mobilizing 100,000 million entrepreneurs and SMEs


July 22, 2011

The Ministry of industry, in collaboration with other twelve ministerial departments, has produced a report which presents a review of the initiatives developed in Spain since the adoption of the 'Small Business Act (SBA) or European small business Act, focused on promoting the entrepreneurial and productive fabric of entrepreneurs and SMEs.
The General Director of policy for SMEs, Estela Gallego Valdueza, has presented the balance of this report accompanied by Mr. European SMEs, Daniel Calleja and Crespo, than responsible European policy of support for the sector, and by the President of CEPYME, Jesus Terciado Valls.
The SBA is legally non-binding initiative that establishes the guidelines of the European policy of support for the creation, innovation and growth of SMEs. Since its launch, in December 2008, it has mobilized nearly 100 billion euros in Spain in the period 2009-2011 through different measures and programmes with the aim of turning to SMEs in the engine of the European economy by 2020.
There are 23 million SMEs representing 99.8 per cent of enterprises operating in this territory in the European Union. They provide two-thirds of the job and 58% of the gva. In Spain, SMEs represent 99.9% of the companies. Its contribution to employment is 78% and the GVA of 68%, 10 points above the average of the European Union, which makes the implementation of the principles of the "Small Business Act" meaning special copper.
"These initiatives - highlighted Estela Gallego, Director-general of SME policy - are of great importance for our economy because the SMEs, both in times of crisis and bonanza, is the engine of the Spanish economy". "Growth is key to our economic framework."

To the President of CEPYME, Jesus Terciado, "the SBA is valuable because it supports three key issues for SMEs: financing, improving the regulatory environment and reduces the administrative burden, and promotes its internationalization".