In the current context of economic uncertainty and environmental challenges, SMEs in Spain are key players for recovery and sustainable development. At Banco Sabadell, we recognise the importance of these businesses and are committed to providing them with the support they need to achieve their full potential.
SMEs are not only the economic engine of Spain, but also a fundamental pillar of social cohesion and territorial balance. Their presence throughout the country creates jobs and opportunities in local communities, contributing to the overall wellbeing of society.
On #EuropeanSMEDay, we reaffirm our commitment to the promotion and growth of small and medium-sized enterprises and join the initiative to raise awareness of the importance of SMEs to the European economy. On this day, we highlight the crucial role they play in job opportunities, innovation, competitiveness and economic growth across Europe.
At Banco Sabadell, our commitment and support for SMEs goes beyond the mere provision of financial products and services. We see ourselves as a strategic ally to these companies, providing them with comprehensive support ranging from specialist advice to tailored financing.
In Spain, SMEs account for 99.8% of businesses and are the driving force of the economy, contributing over 60% of national GDP and providing around 70% of employment in the country. In addition, according to the World Economic Forum’s Global Competitiveness Report, Spanish SMEs are recognised for their ability to innovate and adapt to change, boosting the country’s competitiveness in the international marketplace. On the other hand, they play a crucial role in regional development as they are more geographically dispersed, according to data from the Spanish SME Observatory, contributing to social cohesion and territorial balance.
For all these reasons, at Banco Sabadell we consider it fundamental and part of our DNA to support and promote a favourable business environment for SMEs, facilitating financial solutions, encouraging innovation, promoting digitalisation, helping them to internationalise and accompanying them in their transition towards a sustainable economy.
Some examples of how we support SMEs to address sustainability challenges:
- Strategic consulting
- Using our proprietary methodology and tools, we assess the company’s ability to address ESG challenges, such as decarbonisation in each sector and applicable regulations, and identify the solutions needed at each stage.
- Understanding the reality of each sector and, in particular, the specificities of the company through visits, participation in agreements, partnerships and alliances.
- Supported by specialised teams with sector vision, distributed across the commercial network, with specific training, sustainability certifications and market experience.
- Anticipation of sustainable finance/investment solutions
- Sustainable investment financing, offering solutions focused on energy savings, renewable energy projects, the circular economy, mobility and ecological transition, anticipating sustainable finance/investment solutions.
To this end, we are mobilising €65 billion over 5 years, of which 67% has already been implemented (>€43.7 billion). Last year, over 45% of our medium and long-term corporate financing was sustainable.
- With sustainable investments through Sinia Renovables and its own programmes such as BStartup Green, which invests up to 150,000 per project in 3 start-ups capable of facilitating the transition to a more sustainable economy through technology or digitalisation.
- Outreach activities
- Accompanying clients with dissemination days through our Sabadell Hub Empresa platform.
- Helping to identify and process public funding through an online portal and a dedicated journey (see this link for more information).
- Another example is the contribution of our experience to the recent UN Global Compact Spain and Spainsif study on the sustainable financing of SMEs in Spain (see this link for more information).
This is all part of our commitment to SMEs, a key driver in the transition to a sustainable economy.
Find out more in our Non-Financial Disclosures Report 2023 and join the #SabadellCommitmentToSustainability.
