Claudia Ramírez Bulos
OECD
Aida Caldera Sánchez
OECD
OECD Economic Surveys: Spain 2025
Abstract
Spain’s productivity growth still lags OECD’s top performers, despite significant recent gains. While employment growth has supported output in recent years, gains in labour productivity have been minimal. Boosting productivity in small and medium-sized enterprises—which make up 99% of all firms and employ most of the workforce—is key to breaking through the country’s sluggish productivity growth. As in other OECD countries, SMEs are less productive than large firms owing to limited access to external finance and skilled labour, lower innovation adoption and low use of advanced digital tools. Reducing the high administrative and regulatory burden, particularly labour and tax regulations, while facilitating access to finance can further support the creation and growth of firms. Tailoring policy efforts to increase the use of more advanced digital tools among SMEs, fostering innovation by raising awareness and access to public innovation support, and strengthening collaboration between SMEs and research institutions can boost innovation. Promoting training and reducing costs through vouchers and credits can help SMEs invest in skilling their workforce.
2.1. Boosting productivity is Spain’s most pressing structural challenge—and the key to achieving continuous income growth, fiscal sustainability, and economic resilience. While productivity levels remain well below those of peer countries, there have been encouraging improvements. Following the COVID-19 rebound, Spain has seen stronger total factor productivity and labour productivity growth helping to narrow gaps with other advanced economies (Figure 2.1, Panels A and B) (BdE, 2025[1]). Still this productivity shortfall is the central obstacle to achieving sustained income convergence with best performing OECD and Euro Area countries.
Source: Bank of Spain; OECD Productivity levels Statistics.
2.2. While the productivity gaps between Spain and top performing countries have narrowed somewhat among micro and large firms (Figure 2.2, Panel A), the challenge remains, and is not concentrated by sector or firm type, rather affects large and small firms alike, and is present in both tradable and non-tradable sectors. Micro, small and medium-sized enterprises are the backbone of Spanish economy, accounting for 99% of businesses and nearly two thirds of total employment (Figure 2.2, Panel B). The services sector dominates Spain’s SMEs, with 74% operating in services like tourism, hospitality, and retail—activities traditionally associated with lower productivity. However, even small improvements across this large base can yield sizable aggregate economic benefits and drive innovation. As in other OECD economies, SMEs in Spain lag larger firms in terms of productivity and the gap has proven persistent over time (Figure 2.2, Panel A). Large firms, which make up 0.16% of businesses in Spain, are twice as productive as micro firms. Moreover, even though businesses in Spain exhibit birth and death rates similar to European peers (Figure 2.2, Panel C) post-entry growth is significantly lower than in peer countries, particularly in non-financial services (OECD, 2025[2]) reflecting challenges in scaling up while the share of start-ups has fallen behind peer countries in recent years (OECD, 2024[3]).
2.3. Several well-documented barriers deter firms to grow in terms of productivity and employment. These frictions include a high administrative burden, and financing barriers, a lower adoption of advanced digital technologies than larger firms, weaker innovation capacity, and skills shortages (Bank of Spain, 2024[4]), (Arregui and Yu, 2023[5]) (OECD, 2017[6]) (OECD, 2025[2]). Also, limited networks and collaboration across firms and, risk-averse culture are important bottlenecks to generate productive entrepreneurship in Spain (OECD, 2025[7]). Reducing these structural frictions could yield benefits in resource allocation, innovation diffusion, and the growth of firms.
2.4. Raising SMEs productivity and scaling have long been objectives of the Spanish government (Government of Spain, 2023[8]). Recent efforts coupled with EU funds under the Recovery Transformation and Resilience Plan (RTPR), have aimed at supporting SMEs and the self-employed, targeting 40.9% (EUR 23.191 billion)of the EUR 56.74 billion on five key areas: entrepreneurship, growth, total funds of digitalization, commerce, and internationalization. Moreover, in a welcome step, in 2024 Spain established a productivity council with the objective of diagnosing and analysing how productivity and competitiveness develop over time, to inform policy decisions. Several OECD countries have established similar pro-productivity institutions to generate data on productivity trends and drivers, supporting evidence-based policies to boost productivity (Cavassini, F. et al., 2022[9]).
2.5. This chapter examines the productivity performance of Spanish SMEs in the broader context of the country’s productivity challenge and explores four structural barriers that limit firms’ growth. First, it explores how to enhance access to finance. Secondly, it focusses on reducing the regulatory and administrative burdens that SMEs face to market entry and growth. Thirdly it discusses how to foster advanced technology uptake and lower innovation gaps among SMEs. Finally, it analyses how SMEs growth can benefit from enhanced human capital and skills. For each area, the chapter identifies specific constraints, reviews recent policy measures, particularly under the Recovery, Transformation and Resilience Plan (RTRP), and proposes targeted policy recommendations to unlock SMEs potential building on the OECD SME and Entrepreneurship Strategy (OECD, 2024[3]), the OECD’s Going Digital project (OECD, 2024[10]) the OECD Artificial Intelligence Policy Observatory (OECD, 2025[11]), as well as past OECD Economic Surveys of Spain (OECD, 2023[12]) (OECD, 2018[13]).
Note: Panel A: EU-27 excludes Bulgaria, Croatia, Cyprus, Malta, and Romania; 5 best performers for large firms excludes Ireland and Norway where labour productivity exceeds USD 416,000 in 2023.
Source: OECD Structural Business Statistics; Eurostat.
2.6. Access to finance remains a key constraint for Spanish SMEs, which continue to rely overwhelmingly on bank lending while participating minimally in capital markets (OECD, 2024[14]). Around 70% of Spanish SMEs identified a lack of available financing as a significant long-term barrier to investment in 2023, significantly above European peers. While overall credit conditions have improved in the past year (See Chapter 1), many SMEs, especially younger, smaller and high-growth firms, continue to face challenges in obtaining financing (Figure 2.3, Panel A), and tend to rely on bank loans (Menéndez Pujadas and Mulino Rios, 2023[15]; CESGAR, 2024[16]). Securitisation can help banks free up capital and extend more loans to SMEs, giving them indirect access to financial markets. Yet, the EU’s securitisation market remains far below levels observed prior to the great financial crisis, largely due to market fragmentation and concentration in only a few countries. To overcome this, Spain, together with other EU countries, is working to develop a European Securitisation Platform aimed at making the market more appealing to investors and unlocking fresh capital for SME lending.
2.7. According to the OECD capital market review of Spain (OECD, 2024[14]), many SMEs perceive themselves as too small or underprepared to issue bonds or equity, with fewer than 6% planning to go public in the near term. Structural challenges, such as limited base of institutional investors, low financial literacy, lack of awareness and information and thin pension and investment fund markets, further restrict market-based options. These conditions limit the ability of SMEs to diversify funding sources, scale up and invest in innovation and productivity-enhancing activities. Furthermore, the Spanish firms that rely on debt financing loans are requesting loans with shorter maturities than in the past, potentially reflecting an increased demand for financing to meet immediate operational needs, at the expense of long-term investments (OECD, 2025[7]). Moreover, as in other countries, SMEs are less able to benefit from sophisticated tax planning or group consolidation regimes. This limits their ability to smooth profits and losses over time compared to large, multinational firms and increases financial risks for SMEs, making it harder for them to recover from economic downturns compared to larger firms.
2.8. Several public instruments have been deployed to address these gaps and reinforced under the RTRP. The Official Credit Institute (ICO), public participatory loans, via ENISA, ICO-AXIS and CDTI, and CERSA guarantees (Box 2.1) have expanded financing options for startups and technology firms. The portfolio of programmes includes a variety of financial instruments, tailoring the finance to the companies’ needs. While some of ethe programmes are non-refundable grants and they provide subsidies for certain investment projects at favourable financing conditions, others offer market-based financing through loans, including the investment in private venture capital funds. However, the application processes are often complex and time-consuming, and many projects must align with European priorities—like digitalization or green initiatives—to qualify, which limits their relevance to certain sectors. In this context, SMEs continue to face more difficult and costly access to finance compared to larger companies and to other SMEs in peer countries (Figure 2.3, Panel B).
Source: CESGAR "Encuesta sobre la situación de las pymes en relación con la financiación ajena"; EIB Investment Survey 2024.
2.9. Enhancing SMEs’ access to a broader set of funding sources beyond traditional bank-based financing would necessitate greater public-private cooperation and regulatory changes. The limited use of capital markets by SMEs stems from a lack of awareness and understanding of their benefits, while regulatory challenges linked to stock exchange listings and weak investor demand for SMEs stocks, further discourage smaller companies from entering the equity market (OECD, 2024[14]). Some programmes such as “Entorno Pre Mercado”, launched in 2018 by the Spanish market infrastructure operator provides training and networking opportunities for SMEs to familiarise themselves with capital market operations and to facilitate connections with private and institutional investors. However, the companies participating and ultimately listing are still relatively few compared to the broader SME segment, with a notable concentration in Real Estate Investment Trust (OECD, 2024[14]). To address these challenges further strengthening cooperation between SMEs, particularly those with high growth potential, and capital market participants, such as the stock exchange, through intermediaries like chambers of commerce would help. These platforms connect SMEs with potential in navigating the listing process with investors. Educational initiatives, like seminars, workshops and informational campaigns, could equip more SMEs with the necessary knowledge and resources to effectively evaluate funding alternatives.
2.10. Regulatory reforms are also essential. One priority is to eliminate the requirement for companies listed on multilateral trading facility (MTFs) in Spain to move to the main market if their market capitalization exceeds EUR 1 billion for six consecutive months. Although this threshold was raised from EUR 500 million in 2020, a legislative proposal is under consideration to remove this requirement entirely, along with the creation of an Independent Administrative Authority for the Protection of Financial Clients. This would reduce disincentives for companies considering public listing and help prevent listings abroad. In parallel, granting the CNMV (Spanish National Securities Market Commission) greater flexibility to adjust supervisory fees depending on firm size could reduce cost barriers for smaller companies. Some efforts have already been undertaken, and their effectiveness should be evaluated in due course. The CNMV has introduced an alternative listing method to make IPOs more flexible and resilient to market timing risks by reversing the traditional timeline—starting with prospectus approval and allowing ad-hoc placements—aimed at easing access to regulated markets, particularly for mature companies. A reform proposal aims to extend takeover bid rules to companies listed on MTFs, enhancing minority shareholder protection. This is expected to increase investor confidence and improve SMEs' access to finance. If properly implemented this could boost investor participation in SME markets. Finally, promoting SMEs access to private equity, especially venture and growth capital, could provide alternative financing sources for SMEs. Business associations or public agencies could play a facilitative role by offering informational support or connect companies with fund managers (OECD, 2024[14]).
CERSA guarantees: Operating with the Mutual Guarantee Societies (SGR) of the Autonomous Communities, these guarantees have facilitated access to finance amounting more than EUR 5.5 billion to address projects of more than 36,000 SMEs.
ENISA credit lines: Through different programmes, such as Digital Entrepreneurs these credit lines provide financial support to SMEs that want to boost their innovative entrepreneurial projects. They have already supported 9,354 projects, totalling EUR 1.44 billion, as of July 2025. ENISA also manages the ENISA Entrepreneurship and SME Fund with a budget of EUR 303 million to incentivise private investment and improve access to finance for SMEs.
ICO-Enterprises and Entrepreneurs Facilities: The Instituto de Crédito Oficial, backs the financing of entrepreneurial loans with a fund amounting EUR 8.15 billion to support business growth, competitiveness, and digitalization.
ICO-Verde: With a combined budget of EUR 22 billion support projects that promote sustainability and the modernization of production processes.
Source: PYMES en el Plan de Recuperación, Transformación y Resiliencia, Gobierno de España.
2.11. Compliance with tax, labour laws, and sector-specific and regional regulations is disproportionately more challenging and costly for SMEs than for larger firms in Spain (Almunia and Lopez-Rodriguez., 2018[17]). According to survey data, in 2025 most Spanish firms perceived that the complexity of administrative procedures, fast-changing legislation and policies, and labour regulations were among the biggest difficulties they faced while doing business in Spain (Figure 2.4, Panel A). Furthermore, Spanish SMEs devote substantial resources to navigating regulatory and administrative hurdles, which stifles their growth and competitiveness. Simplifying administrative burden and streamlining administrative requirements for new firms, which remain high compared to OECD benchmarks, as well as increasing transparency tools and integrity standards for lobbying activities (Figure 2.4, Panel B), would create a more business-friendly environment for SMEs that fosters productivity gains and expansion.
2.3.1. Lowering administrative complexities
2.12. Administrative complexity remains one of the most frequently cited obstacles to SMEs growth in Spain, especially for smaller and younger firms (Mora-Sanguinetti et al., 2024[18]). Many firms report high compliance costs, time consuming paperwork, and uncertainty when dealing with regulatory procedures. Regulatory requirements often differ across regions and levels of government, creating duplication and uncertainty. The impact is disproportionally felt by SMEs, which often lack the internal capacity to manage legal, accounting, and administrative procedures. Current labour regulations make hiring and firing employees challenging and costly, which combined with relatively high social security contributions and growing minimum wages have raised labour costs and administrative burden for SMEs in recent years (Arregui and Yu, 2023[5]).Taken together, these factors raise the costs of doing business for SMEs and discourage scaling up and limit productivity enhancing investment.
2.13. Moreover, Spain’s regulatory framework includes multiple thresholds that impose additional obligations on firms once they reach a certain size, most commonly when getting close to EUR 6 million sales. A recent report identifies more than 100 regulations of this type related to accounting, labour, financing or taxation (Arregui and Yu, 2023[5]). While the intent is often to reduce the burden on the smallest firms, the result can be a strong disincentive to grow beyond key size thresholds. Research has shown that firms in Spain are more likely to remain small due to a comparatively higher administrative and regulatory burden, and that this contributes to the unusually high share of microenterprises (Arregui and Yu, 2023[5]; Barrios, Delis and Landabaso Alvarez, 2024[19]). These regulatory cliffs discourage hiring, limit economies of scale, and hinder investment in innovation, ultimately constraining productivity growth. To avoid regulatory cliffs, it is advisable to conduct a systematic review of key thresholds that trigger additional obligations as firms grow. Introducing phased-in or sliding-scale requirements can help prevent sudden increases in compliance costs. Improving coordination across different regulatory areas —such as tax, labour, and social security— would also enhance consistency and reduce administrative complexity.
2.14. Spain has taken steps to simplify procedures and foster a more dynamic and competitive business environment, especially for SMEs, by making it easier to create, grow and restructure firms through the 2022 Ley Crea y Crece and the Start-up Law (Box 2.2). Early indications, such as a 10% increase in new company formations on average in 2023 and 2024, above the historical average, suggest that these laws are addressing long-standing administrative and legal barriers to business formation and innovation in Spain, in line with recommendations from previous OECD Economic Surveys for Spain. However, assessing the full impact will require more time and data.
Note: In panel B, high scores in the lobbying regulation subcategory indicate lower levels of transparency in lobbying activities.
Source: European Commission, September-October 2025, Flash Eurobarometer 428: Businesses and corruption; OECD 2023-2024 PMR database.
2.15. Divergent regional regulations and unequal access to local support pose hurdles for businesses aiming to scale or expand across Spain, highlighting the need to create a more cohesive national market, making it easier for SMEs to grow and thrive nationwide. In the past two years, the government, in collaboration with the private sector, has adopted measures to reduce bureaucracy, streamline processes, lower costs through digitalization, and enhance digital public services (BOE, 2024[20]). In this sense, the programme Regimen 20, proposed by the Ministry of Economy and the autonomous communities, goes in the right direction as it aims to establish a common framework of minimum rules across regions, making it easier for companies to expand by reducing administrative obstacles that might arise from differing local regulations. Nevertheless, the success of this initiative largely depends on its timely implementation and the collaboration of all levels of government, including municipalities. For this, the plan must be rolled out gradually and consistently across the country, with comprehensive training provided for officials responsible for overseeing the new system to ensure a smooth implementation.
Ley Startup: Aims to create a favourable environment for the establishment and growth of startups by offering tax incentives, reducing administrative hurdles, and measures to attract talent and investment. The law introduces significant tax benefits for start-ups, including a reduced corporate income tax rate for the first four years of a company’s operation, a threefold increase in the tax-free limit on stock options, expanded incentives for business angels, and a special five-year regime for attracting foreign talent. The introduction of a special visa for digital nomads and remote workers is expected to attract global talent.
Ley Crea y Crece: Aims to stimulate business creation by reducing and streamlining the procedures and conditions for establishing a company. It encourages firms’ growth through regulatory improvements, promoting electronic invoicing to combat late payment in commercial transactions and promoting alternative financing methods for SMEs by strengthening mechanisms such as crowdfunding, collective investment, and venture capital.
Ley Concursal: Seeks to strengthen the legal base to ensure that financially troubled but viable companies can restructure and continue operating, allowing insolvent individuals to discharge debts for a second chance, and improving insolvency procedures by making them more efficient and shorter, with a focus on microenterprises.
Source: PYMES en el Plan de Recuperación, Transformación y Resiliencia, Gobierno de España.
2.3.2. Reducing cliff-edge effects in the corporate tax system
2.16. Spain’s corporate income taxation system includes specific provisions aimed at supporting SMEs, including reduced rates, accelerated depreciation, and targeted deductions in both corporate and personal income tax for investments in R&D, employment and sustainability. The standard corporate income tax rate in 2024 was 25%, but companies with a net turnover below EUR 1 million will benefit from a reduced tax rate progressively leading to 17% up to a tax base of EUR 50,000 and 20% for the rest of the tax base by 2027, while start-ups enjoy a tax rate of 15% for the first four profitable fiscal years. SMEs also benefit from reduced social security contributions. Moreover, self-employed workers —with a monthly income of less than EUR 1,700— can benefit from reductions ranging from EUR 80 to EUR 428, depending on income. New self-employed workers benefit from a flat rate in social contributions, with an 80% reduction in the contribution during the first 12 months of activity, with variations depending on the age and situation of the firm.
2.17. While these preferential tax treatments are intended to support small businesses and promote entrepreneurship, evidence from OECD countries indicates that size-based tax incentives may have unintended consequences on business expansion, business dynamism, and tax compliance (Bergner, S. et al., 2017[21]), (Almunia and Lopez-Rodriguez., 2018[17]). Firms may deliberately limit growth to remain below key tax thresholds. Recent research for Spain confirms that the tax system penalizes the growth of new and small businesses (Barrios, Delis and Landabaso Alvarez, 2024[19]). Effective tax rates tend to rise as firms grow from micro to small but then drop again for medium to large firms. Tax reforms approved in 2024 aim to address these disincentives by introducing a more gradual progression of tax obligations, applying lower rates to companies with lower turnover and higher rates to those with greater turnover. Beginning in 2025, businesses with a net turnover of less than EUR 1 million will face a rate of 21% for the first EUR 50,000 (of the tax base), and 22% up to EUR 1 million and 19% and 21% in 2026. For companies with a net turnover below EUR 10 million per year, progressive reduction in the corporate tax rate – from 24% in 2025 to 21% by 2028 – has been introduced. These measures represent a welcome effort to reduce cliff-edge effects of the corporate tax system. However, it remains important to regularly evaluate the costs and benefits of SMEs-specific tax treatment. Frequent, piecemeal changes to corporate income taxation can increase uncertainty and compliance costs. A stable and predictable corporate tax framework is essential to ensure that tax policy supports SMEs growth and productivity.
2.3.3. Adapting insolvency regimes to SMEs’ needs
2.18. An effective insolvency framework is essential for fostering entrepreneurial risk-taking, supporting business creation, enabling business restructuring and strengthening productivity growth. Consistent with long standing OECD recommendations (OECD, 2017[6]) (OECD, 2018[13]), Spain reformed its insolvency regime in 2022 (Box 2.2), placing greater emphasis on the pre-insolvency stage to help viable firms in financial distress take early action. The reform broadened access to restructuring tools and introduced specific, simplified, and quicker processes specifically for micro-enterprises. One of the central innovations was the enhancement of the “second chance procedure”, which expands the scope of debt exoneration and supports the continuation of entrepreneurial activity for individuals and the self-employed. In line with OECD advice, it also introduced a fully electronic insolvency procedure for microenterprises, designed to reduce complexity, time and cost and make procedures more accessible to SMEs.
2.19. Recent data suggest that these changes have begun to take effect. The number of bankruptcy procedures for natural persons increased by 30% in Q2 2025 compared to the same period in 2024, while corporate bankruptcy proceedings decreased by 3% according to the Spanish Association of Property, Movable and Mercantile Property Registrars. The share of individual proceedings in total cases increased from 65% in 2022 Q2 to 89% in 2025 Q2. This increase likely reflects both post-pandemic and energy crisis economic challenges and the improved accessibility of the system for individuals and sole proprietors, making the procedure more attractive.
2.20. Despite efforts to promote the use of the Electronic Microenterprise Service (SEM) platform of the Ministry of the Presidency, Justice and Relations with the Parliament, the uptake of the new electronic insolvency procedure for microenterprises has grown but remains limited. Additionally, some discrepancies are observed between data sources regarding insolvency procedures for enterprises. This suggests further efforts are needed to raise awareness, improve data collection across entities, build trust in the system and support SMEs and courts in navigating the process. As noted in previous OECD surveys, implementation remains key: simplification must be accompanied by strong outreach and administrative capacity to make insolvency procedures effective for the smallest firms.
2.21. Spanish businesses have made significant progress in digital adoption, but SMEs lag in the adoption of more advanced digital technologies. By leveraging Spain’s strong digitalisation position, SMEs can benefit from an enhanced use of digital technologies, including artificial intelligence (AI) which can help automating tasks, optimizing resource use, and enabling better data-driven decision-making. While the use of basic tools such as websites and social media is widespread, uptake of more productivity enhancing technologies such as enterprise resource planning, cloud computing, and AI remains low (Figure 2.5), especially among micro and small firms. Only 26% of SMEs adopted cloud services in 2023, below the EU average of 42% and only 8.5% of SMEs used big data, compared to 13.6% across the EU. This gap is not only a reflection of costs or access, but also of limited digital capabilities. Participation in innovation and collaborative R&D also remain low among SMEs. Improving the adoption of more advanced digital technologies, fostering cybersecurity and enabling and updating the regulatory framework to effectively use AI are necessary steps to foster productivity growth.
2.4.1. Improving the adoption of more advanced digital technologies in SMEs
2.22. Spain has made significant efforts towards digital transformation over the past years, and a range of public initiatives, including the Digital Kit, Retech and the Next Tech fund have been launched to boost SMEs digitalisation (Box 2.3). These initiatives aim to implement scalable programmes for basic digitalization through public-private partnerships, promote business training in digital skills and encourage innovation and digital entrepreneurship to leverage opportunities in the green and digital economy via grants, co-financing, and technical support. However, challenges remain. Many SMEs aren’t aware of the digital tools available to improve their businesses, or they lack a full understanding of the solutions that these tools can bring to their firms. Also, their employees lack the skills to use advanced digital tools effectively, preventing them to fully implement digital solutions.
2.23. Efforts should focus on accelerating SME adoption of advanced technologies like AI, cloud infrastructure, and data analytics. Developing structured informative sessions, training programmes and mentorship initiatives to expand more advanced technical skills among SME staff and leadership is key. The current training and consultancy offer under Kit Digital, Kit Consulting and Retech could be further advertised among SMEs, for instance through local chambers of commerce. Encouraging public-private partnerships, networks, and cluster initiatives—such as Australia’s Innovation Connections Program—can help SMEs collaborate with research institutions, large firms, and tech providers to develop and test digital innovations, particularly in AI, cloud computing, and other advanced technologies.
2.4.2. Fostering cybersecurity is crucial for SMEs
2.24. As SMEs increasingly adopt digital tools and platforms, cybersecurity is becoming a core requirement. Yet, many small firms underestimate the risks or lack the resources to address cybersecurity risks effectively. Survey evidence shows that SMEs are far less likely than large firms to have dedicated cybersecurity protocols, risks assessments or recovery plans in place, leaving them vulnerable (EC, 2022[22]).
2.25. On-going initiatives, particularly through the National Institute for Cybersecurity (INCIBE), have begun addressing this gap. Programmes like Activa Ciberseguridad, provide SMEs with tailored cybersecurity actions for implementation, while the “INCIBE Emprende” programme supports start-ups and entrepreneurs with cybersecurity-related projects and ideas. Ensuring SMEs thrive in the digital world and remain protected requires that they are aware of both the potential cybersecurity risks and options to prevent and effectively address cybersecurity incidents. For this, expanding outreach and awareness campaigns tailored to small firms is needed. For instance, the programme Activa Ciberseguridad that offers cybersecurity assessment and tailored options to SMEs could be further advertised. Many potential beneficiaries remain unaware of its existence and could significantly benefit from greater outreach and visibility.
The government has implemented several programmes to boost the digitalization of SMEs through the SME Digitalization Plan 2021-2025, with a total investment of EUR 4,656 million (around 0.3% of GDP) to accelerate the digital transformation of more than 1.5 million SMEs over five years. Some of the most remarkable programmes are the following:
Kit Digital subsidises the adoption of digital solutions by SMEs, microenterprises, and self-employed individuals to implement digital services like e-commerce, cloud computing, digital workplace, process digitization, customer management, digital marketing, and cybersecurity. It has granted over 676,000 subsidies, reaching more than 85% of Spanish municipalities, with a total budget of EUR 3.067 billion from the NextGeneration EU funds.
Kit Consulting provides financial assistance to SMEs to design their digital transformation roadmap. It offers Digital Advisory Bonuses ranging from EUR 12,000 to EUR 24,000, depending on the company's size, for specialized digital consultancy services. Since its launch, it has aimed to benefit approximately 15,000 SMEs, with a total budget of EUR 300 million from the NextGeneration EU funds.
Retech aims at boosting regional collaboration and fostering innovative ecosystems through interregional projects in key sectors of the digital economy, including artificial intelligence, cybersecurity, and digital entrepreneurship. It is aligned with the Spain Digital Agenda 2026, allocating EUR 530 million from the RTRP to deploy transformative digital projects based on proposals from autonomous communities.
Next Tech is a co-investment fund with the aim of promoting the development of innovative, high-impact digital projects and investment in growing companies (scale-ups). The Fund is endowed with 4 billion euros with the aim of mobilizing up to 8 billion euros in public-private collaboration with the Spanish venture capital sector.
Activa Ciberseguridad assesses a company's cybersecurity status and develops a tailored plan with customized security actions for implementation. The programme lasts four months for each beneficiary company, with a minimum of 20 hours of consulting.
Source: Digital Spain 2021-2025, Government of Spain.
2.4.3. Harnessing the benefits of AI
2.26. While artificial Intelligence (AI) has the potential to enhance productivity (Filuppucci, Gal and Schief, 2024[23]), automate routine processes and accelerate innovation, most Spanish SMEs remain far from adopting or even exploring AI tools. Only about 10.4% of SMEs report using AI applications, well below the EU average, with adoption largely limited to larger firms and tech-driven start-ups (Figure 2.5). The reasons are multiple: many SMEs are unfamiliar with what AI can do for their businesses, employees lack skills to effectively use it, while regulatory or legal concerns can deter a broader adoption (Lane and Ruggiu, 2025[24]). Furthermore, AI adoption requires not only digital skills, but also advanced human capital and financial resources that many SMEs lack (Bank of Spain, 2025[25]) as discussed below. Integrating AI into existing systems can be technically complex while SMEs may lack specialized IT infrastructure, such as cloud services and scalable databases. This highlights the need for a comprehensive strategy to both improve the adoption of more advanced tools among SMEs and attract talent.
2.27. Spain’s national AI strategy, the 2026 Spain Digital Agenda, and funding through the Recovery, Transformation, and Resilience Plan (EUR 1.5 billion) are steps in the right direction. Initiatives like the regulatory sandbox for the forthcoming European AI Regulation that offer a controlled environment where SMEs can develop and test AI systems with direct regulatory guidance, are steps in the right direction as they can help SMEs comply with the new regulation before it takes full effect and can ease the transition for small companies into responsible and compliant AI adoption. Also, the establishment of the National Artificial Intelligence Supervisory Agency (AESIA), the creation of the Observatory on the Social and Ethical Impact of Algorithms (OBISAL), (MTDFP, 2025[26]) and the recently announced AI Integration Subsidies to promote AI adoption among companies are welcome. To ensure an adequate implementation of the AI national strategy and help more SMEs effectively and securely use AI, policymakers could develop easy-to-use AI services and help SMEs evaluate their AI potential, following the example of the United Kingdom’s AI Skills bootcamps, that offers government-funded training programmes to help SMEs upskill their workforce in AI. Efforts should focus on helping SMEs navigate AI regulations, and educate them on responsible AI use, as France’s AI Ethics & Compliance Guide for SMEs, coupled with use-case toolkits targeted to SMEs in specific sectors (e.g. retail, tourism, logistics). Furthermore, encouraging partnerships between SMEs and public research centres could facilitate experimentation and access to information on AI tools. Finally, the government should remain vigilant and regularly update the National Strategy as AI adoption expands, so AI initiatives do not outpace regulation.
SMEs' position in the digital economy, 2024
Note: ICT security related incidents refer to any ICT security related incidents leading to unavailability of ICT services, destruction or corruption of data, disclosure of confidential data (for any reason).
Source: Eurostat Digital economy and society statistics - enterprises.
2.4.4. Promoting innovation and R&D investment among SMEs
2.28. Investment in R&D remains highly concentrated among a small number of large firms in Spain, as in many other OECD countries, while most SMEs contribute little or nothing to innovation activity (Figure 2.6, Panel A). SME share in business expenditure in research and development (BERD) at 45% in 2021 is above the OECD average (37%), yet it's only half the rate seen in top-performing countries like Italy, Denmark, and New Zealand. Although the number of SMEs involved in R&D activities has increased, their growth still trails that of larger firms. According to survey data, several factors limit engagement in innovation activities in Spanish SMEs, including high costs, difficulties accessing public support, lack of qualified personnel, and low access to external knowledge, among others (INE, 2023[27]). As a result, Spanish SMEs lag EU peers in innovation and collaboration with research institutions (Figure 2.6, Panel B).
2.29. Existing policies to promote innovation – including R&D tax credits, non-repayable grants, subsidized loans, tax deductions, and social security rebates for workers in R&D activities – have helped some SMEs access research infrastructure and technical expertise. Generous R&D tax credits are a central element of Spain’s innovation support system for both profitable firms (that can immediately utilize tax credits or deductions to reduce their tax liability), and for loss-making firms (Figure 2.6, Panel C), (OECD, 2025[28]), with an optional regime (in place since 2014) that allows SMEs and newly established companies to fully monetize the incentive, even in the absence of sufficient tax liability (“tax rebate”), when certain requirements are met (such as maintaining headcount).
2.30. The R&D tax credit system is perceived as complex and administratively burdensome (OECD, 2021[29]). Many SMEs struggle to benefit fully because refunds need pre-approval and are often delayed, in some cases taking up to two years. Simplifying the refund process for these credits and speeding up processing times would enable SMEs with limited tax liabilities or cash flow challenges to access support more rapidly. Also, the current definition of R&D is strict, often demanding a high degree of innovation or originality. This poses a particular challenge for SMEs, which often struggle to identify or categorize their R&D or innovation activities in ways that meet the requirements for fiscal support (Secretaria General de Innovación, 2024[30]). To increase uptake, clearer communication and outreach campaigns targeted at SMEs could raise awareness about public innovation support opportunities and about eligibility. Simplifying administrative requirements for SMEs, and providing support, for instance through a “one-stop-shop” digital platform to inform SMEs about the types of eligible spending as well as existing public innovation support opportunities, could facilitate access and increase participation in such programmes. Moreover, given that many innovative SMEs in Spain have limited tax liabilities, support through grants may be more effective than tax credits in stimulating R&D investment. Well targeted grants can provide up front funding and reduce financing constraints for innovation and R&D activities that wouldn’t proceed without upfront resources, especially for younger firms with limited access to capital markets. Spain offers direct grants and soft loans for R&D through regional governments and agencies like CDTI and ENISA, and some programmes like NEOTEC, CDTI’s innovation lines and ENISA participatory loans, are explicitly designed to support SMEs. Ensuring SMEs can easily combine tax credits with direct grant support, clarifying how different incentives interact and simpler design and better outreach would maximize the overall impact of public support for innovation.
2.31. Another path worth exploring is promoting stronger collaboration between SMEs and research institutions, which is low in Spain (Figure 2.3, Panel B) (OECD, 2025[7]). Overall knowledge transfer between science and industry in Spain is hindered by fragmented governance, limited incentives for public researchers to collaborate with firms and weak institutional capacity in knowledge transfer offices (OECD, 2021[29]). Clearer national coordination, more widespread performance-based funding and stronger professionalization of transfer mechanisms can help to better connect research with business innovation, especially among SMEs. Increasing the number of external stakeholder representatives, including SMEs, in university governing councils can raise accountability and bring on board the needs of companies and citizens beyond academic goals, as recommended in previous OECD Economic Surveys of Spain (OECD, 2023[12]). Moreover, Spain could follow Sweden’s example and encourage SMEs to collaborate with universities and strengthen their internal innovation capacity through coaching and consulting services.
Note: Small firms refers to firms with 10 to 49 employees, medium-sized firms to firms with 50 to 249 employees and large firms to firms with at least 250 employees.
Source: Eurostat; OECD Innovation indicators dataset; OECD R&D Tax incentives database.
2.32. Despite a relatively educated population, the workforce in Spain has significant skills gaps, including in digital, managerial and STEM related fields (Blázquez, Balmaseda and Canals, 2022[31]). Adult skills are below the OECD averages in numeracy, literacy, and adaptive problem solving (OECD, 2024[32]). In this context, SMEs increasingly encounter difficulties when trying to hire workers with the necessary capabilities for their businesses (CGE, 2024[33]) (Figure 2.7, Panel A). Moreover, these firms face specific challenges developing and retaining talent, as in many OECD countries. First, they often don’t have the resources to provide training or upskilling to their employees, because of time or cost constraints. Second, despite important progress in SMEs’ participation in vocational education and training and dual training models, many SMEs aren’t taking full advantage of these programmes due to low awareness of existing programmes or administrative complexity in accessing them. Third, competing with larger firms on attracting and retaining skilled talent remains a challenge for many SMEs because of lower salaries, limited career advancement opportunities and fewer benefits (CGE, 2024[33]). In this context, policy should prioritize encouraging SME engagement with existing training opportunities while creating strong incentives for skills investment (Box 2.4) and the recruitment of ICT specialists.
Finland: Employers are legally required to develop company training plans, with many publicly subsidized courses available. Through the Joint Purchase Training system (Yhteishankintakoulutus/ Gemensam anskaffning av utbildning), employers can partner with the public employment service to retrain existing staff or train new hires, receiving both funding and support to align workforce skills with company needs and technological changes.
Denmark: Under Arbejdsmarkedsuddannelser (AMU) system for adult education, employers face minimal training costs and receive wage subsidies for staff attending training. They also get support services, from needs assessment to certification. Additionally, employers can receive subsidies for hiring long-term unemployed workers as temporary replacements during training. Furthermore, modular training programmes for SMEs, often in collaboration with local vocational schools and universities, make it easier for small businesses to access tailored upskilling and reskilling opportunities.
Germany: The Qualification-Chances-Law provides federal subsidies for both direct and indirect training costs, with support levels varying by company size, training type, and worker characteristics. Smaller firms receive more generous aid than larger ones. Germany’s ‘Go-Inno’ programme is a good example of a voucher-based initiative supporting SME investment in innovation. According to the programme’s evaluation, it is helping SMEs build innovation capacity by funding qualified external consulting, developing implementation strategies, and enhancing their management and process design skills. Public funding was the key trigger for participation in many cases, with 66% of SMEs citing it as essential.
Source: (OECD, 2021[34])
2.5.1. Enhancing training options for SMEs and developing incentives for SMEs to invest in skills
2.33. Investment in training remains low and underutilized by Spanish SMEs, despite the potential benefits of employee training in enhancing its performance (Albizu, Olazaran and Lavía, 2017[35]) (Lavía, C et al., 2021[36]). Large companies spent 2.7 times more on training in 2023 than micro and small firms, while smaller businesses continued to underutilize available training options, such as the programme formación bonificada (Observatorio de la Formación Profesional, 2025[37]). This programme allows organizations to train their employees through courses that are partially or fully funded via social security contribution reductions. However, this option is barely used by smaller firms, with only 6% of total participants working in firms with less than 10 employees in 2023, as compared to 60% of participants working in larger companies (Observatorio de la Formación Profesional, 2025[37]). The dual vocational model was fully implemented in January 2025, and early evidence shows that previously engaged SMEs have continued participating and benefited from support in adapting programmes and addressing administrative challenges. However, further efforts are needed to involve more SMEs in the dual vocational training model to ensure they can access skills and talent required for business growth and workforce renewal.
2.34. Many SMEs in Spain lack information about the availability of existing training options or consider the administrative burden to enrol in existing programmes to be burdensome (CGE, 2024[33]). To increase SMEs’ take-up of available training options, informing them about their existence while alleviating administrative costs associated to their use are key. Stronger collaboration between business associations, employment agencies, and SMEs can improve awareness of training opportunities and help small firms and workers access them more easily. These partnerships can also help SMEs navigate the processes and lower administrative costs by sharing knowledge and guidance. Additionally, reducing red tape through one-click applications, automated eligibility checks, and pre-filled forms using existing government data, like the Estonia’s e-Government model, would further ease the burden.
2.5.2. Tackling digital skills shortages in SMEs
2.35. SMEs in Spain are currently grappling with digital skill gaps that hinder their productivity. Even if 66.2% of the Spanish population possesses at least basic digital skills, above the 55.6% average in the EU, 60% of SMEs report difficulties in hiring staff with adequate skills (CGE, 2024[33]). Spain has launched several national initiatives and invested heavily in upskilling and digital training for SMEs, with available training for digital skills, such as those offered by Fundae, which are free of charge and available for different levels of digital skills (See Box 2.3). However, some challenges remain, including insufficient in-company training —particularly in more advanced areas—short training duration, and barriers such as lack of funding and resources (EC, 2023[38]).
2.36. Incentivizing SMEs to invest in upskilling their workforce is key to address labour and skills shortages, boost productivity, and ensure their workforce can adapt to rapid technological and market changes (OECD, 2021[34]). Several policy options can help close these skill gaps and enhance SME productivity. Firstly, expanding and promoting existing training programmes like "Kit Digital and " and "Retech" can provide SMEs with the necessary tools to upskill their workforce, particularly in AI, cloud computing and data management. Secondly, introducing training accounts with generous vouchers for SMEs can incentivize participation in training. However, this should be done keeping eligibility criteria simple while allowing SMEs to choose accredited training providers that suit their business needs such as in Germany and Belgium. Spain could build on existing FUNDAE training bonifications to launch a unified digital platform (potentially managed by FUNDAE and SEPE) where both SMEs and individuals, especially over 55 (see Chapter 3) can easily apply, select certified training providers, and receive individualized vouchers, covering training costs. All voucher redemptions must be tracked and periodically evaluated. Finally, enabling certified, modular, and short training options focused on digital skills through online learning or evening or weekend sessions could alleviate time constraints for managers and employers.
2.5.3. Educating more ICT specialists
2.37. ICT specialists remain scarce in Spain (4.3% of the total workforce and 3.2% of the workforce in SMEs in 2024 according to the INE), while needs are increasing, with 62% of Spanish enterprises seeking to recruit them, nearly double than the EU average. Spain launched the National Digital Competences Plan aiming, among other things, to increase the presence of ICT specialists in vocational training and university graduates and researchers. Enrolments in VET have significantly increased (33% from 2017 to 2023), especially among ICT related subjects following reforms of the VET system in 2018 and 2022 that modernised the ICT curricula strengthened ICT teacher competencies and made important investments to support digital learning (MEFPD, 2024[39]). Sustaining this momentum will require refining incentives schemes to attract and retain young students, better career guidance in secondary schools, easy to access information linking education programmes with employment outcomes through digital portals to inform career choices and promoting role models.
2.38. There is potential to expand the ICT workforce by addressing persistent gender gaps (OECD, 2024[40]). Currently, fewer women enrol in ICT careers than men. To tackle this issue, Digital Spain 2025 and the National Digital Competences Plan specifically target the digital gender divide on ICT, aiming to boost women's participation through training, inclusion, and educational reforms. Despite these efforts, as of 2023 the gender gap in ICT jobs remains substantial (Figure 2.7, Panel B). To reduce this gap and strengthen the future ICT talent pipeline, Spain must continue promoting these fields to girls. This includes challenging gender stereotypes among teachers regarding the perceived strengths of boys and girls in specific domains, highlighting female role models, and expanding targeted outreach at earlier education stages before students make career choices. Evidence from Italy shows that such targeted interventions can be effective: a coding course specifically designed for female middle-school students led to a 10% rise in participants’ aspirations to become computer programmers (Brussino and Mc Brien, 2022[41]).
Source: European Commission, Eurobarometer “SMEs and skills shortages”, November 2023; OECD Going Digital Toolkit gender indicators.
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