Sánchez points out that, for the first time, Spain has created jobs in a global crisis and has more companies than prior to the pandemic

The President of the Government of Spain, Pedro Sánchez, has stated that the social shield that the executive deployed in the pandemic and the measures adopted have allowed Spain to create jobs in the context of a global crisis and to have more active companies than before the COVID-19 crisis.

Royal Tapestry Factory, Madrid

"In the worst of times, the state guaranteed the continuance of more than 3.5 million jobs, thanks to the ERTES mechanisms", Pedro Sánchez highlighted, adding that "more than half a million companies were able to take advantage of the ICO lines of credit, deferrals, credit moratoriums, bonuses and exemptions from national security contributions".

"The state was on the side of businesspeople and the productive fabric in the most critical moment we have experienced in the last 40 years, in the years of our democracy. We maintained the vital signs of our productive fabric", he stressed. Spain closed 2022 with 3,430,663 active companies, almost 70,000 more than in 2019. Likewise, the chief executive valued the fact that there has been job creation, "especially in sectors linked to technology, information and high value-added services. This transformation is reflected, for example, in our ability to export knowledge," he said.

Economic team with results

In an event that was also attended by the First Vice-President of the Government and Minister for the Economy and Digital Transformation, Nadia Calviño, and the Minister for Industry, Trade and Tourism, Reyes Maroto, the President of the Government thanked them both for their work and expressed his "pride" in the government's economic team, led by women. Also present were the Secretary of State for Digitalisation and Artificial Intelligence, Carme Artigas, and the High Commissioner for Spain as an Entrepreneurial Nation, Francisco Polo.

Family photo at the event 'Undertaking the future we want', which was closed by the President of the Government of Spain, Pedro Sánchez.| Pool Moncloa/Fernando Calvo

"The results speak for themselves," the chief executive stated. Spain has more than 20 million workers; the number of permanent contracts has grown by 232% in one year; productivity has increased by 1.7%; and Spanish exports of services increased by 30% up to October to more than €24 billion. "This is the work of the coalition government, which is determined to make progress despite all adversities. We have to refute this catastrophism, the doomsayers who ultimately expect things to get worse when what we have to do is what we are doing now: exceed all expectations", he stressed.

Pedro Sánchez also highlighted the boost given to the European funds of the Recovery Plan, which have already reached more than 150,000 companies in our country, although he has urged the EU, ahead of the European Council to be held this week, to allow its management to be speeded up. "Especially when there are other economies - for example, the US - that are implementing protectionist laws for their industry that put European industry on alert, if not under threat," he warned.

Spain has managed to establish its entrepreneurial ecosystem in the top 20 worldwide, with 14,000 start-ups registered in 2022, above the European average. Furthermore, despite the complex global geopolitical context, the volume of investment in Spanish startups in 2022 is the second best figure in the series, marking an all-time high in terms of the number of transactions.

Ambitious reform agenda

Pedro Sánchez has expressed the Government of Spain's commitment to entrepreneurs, as demonstrated by its ambitious reform agenda, with the approval of laws such as the Crea y Crece Law, the Vocational Training Law, the Universities Law, the Science Law, the Bankruptcy Reform Law and the Startups Law. He praised the tax incentives and the administrative flexibility it introduces, and the commitment to the recovery of national talent lost after the last crisis and the attraction of international workers with a high level of training.

The President of the Government has also advocated reducing the high gender gap that persists in start-up companies and has highlighted, among the initiatives adopted to this end, the Women's Talent Attraction Programme, which will host more than 800 European women entrepreneurs in different parts of our territory up to the end of 2023.

In addition, he highlighted the development of instruments such as the Innvierte Fund, dedicated to entrepreneurship, and which has already allocated €190 million to more than 100 companies in sectors such as biotechnology and space; the Neotec programme for technology-based companies; and the Next Tech Fund, €4 billion to finance high-tech growth companies, the second largest fund of its kind in Europe, behind only Germany.

Non official translation

More Info

• Recovery, Transformation and Resilience Plan website

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• Spain Recovery Plan
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• Employment
• Economy