 Recent economic performance of Spanish SMEs and developments in their access to external financing according to the European Central Bank's half-yearly SurveyÁlvaro Menéndez and Maristela Mulino Economic Bulletin, 2022, issue 3/2022, No 14 Abstract: The latest SAFE results show that the activity of Spanish SMEs continued to grow in the period from October 2021 to March 2022, albeit at a slower pace than six months earlier. The rise in costs prompted a deterioration in profits for most of these firms. Access to external finance is not a factor of concern for most SMEs; indeed, the indicator of obstacles to obtaining bank loans has held at very low values. However, the results show an interruption of the trend of improving availability of bank loans during the period analysed, linked to the SMEs' pessimistic perception of the general economic environment. In addition, a significant percentage of SMEs reported an increase in financing costs. Against a backdrop of heightened uncertainty generated, among other factors, by the economic repercussions of the war in Ukraine, overall the respondent firms anticipated a deterioration in access to finance for the period April-September 2022. Keywords: turnover; profits; financial situation; SAFE; access to finance; bank loans; financing conditions. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bde:journl:y:2022:i:03:d:aa:n:14 Access Statistics for this article More articles in Economic Bulletin from Banco de España Contact information at EDIRC. |
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