Interest rates required from SMEs register the largest year-on-year increase since 1995 | EUROtoday

• Costs SMEs spend 40% extra on renting their places of work and premises this yr

Las small and medium enterprises of the nation have suffered in the first half of the yr largest year-on-year rise in curiosity rates since the yr 1995when the Mibor price exceeded 10%, “so the increase, proportionally, was lower than what is currently being experienced,” the employers’ affiliation warned this Monday Cepyme.

“There are now four consecutive quarters with year-on-year increases in interest rates, fact that has not happened since 2012. However, the increase is now much stronger,” said the group that directs Gerardo Cuerva in your report Cepyme Indicator revealed this Monday.

Of all the components that decide the exercise of firms, the financing prices They are a type of which can be having the most unfavorable impression. “The conditions for new loans became more demanding for the fifth consecutive quarter, something that has not happened since 2013,” which implies that firms are requested for extra ensures and curiosity rates are raised.

“He average interest rate of new bank loans to SMEs has almost tripled in the last twelve months: if in the second quarter of 2022 they were from 1.62%, now they reach 4.45%which is the highest interest rate in the last ten years,” they level out, whereas warning that the curiosity rates on new loans requested by SMEs they are going to proceed to develop much more, given the decrease danger tolerance declared by banking entities. The increase, in any case, doesn’t solely have an effect on new loans, but additionally the curiosity rates on stay credit score They have risen from 1.65% at the finish of 2021 to three.82% in June of this yr.

The tightening of financing situations, along with the inflacin and the weakening of the demand has induced a drop in the share of SMEs that fee of 30 dasthough it stays excessive: in the 88,3%.

Another indicator that has worsened is that of monetary effortunderstood as the debt of firms (the common legal responsibility) for the common rate of interest, which has tripled in the second quarter of the yr, passing from 7,900 to 22,400 euros in the case of small companies, and from 173,900 to 567,400 euross in the case of the giant ones.

Sales resist

Despite the difficulties, gross sales of SMEs grew 9.7% year-on-year between April and June, though this increase stays in the 0,7% Once the distorting impact of the inflacin -The increase in turnover will not be as a result of they promote way more in quantity, however as a result of they promote extra expensively. For the third consecutive quarter, gross sales grew in actual phrases by lower than 1%, in comparison with the 3.7% advances recorded in 2019.

He employment additionally grew in the second quarter and SMEs exceeded 9 million members for the first time, 2.7% extra year-on-year, with higher employment dynamism in medium-sized firms (3.8%) than in small ones (2.2%). %). “The fact that employment has grown at the same time as or above sales leads to poor productivity performance (understood in this case as sales volume per employee),” they level out.

The set of vicissitudes that firms must face has induced Spain to have in the present day 9,000 fewer small and medium-sized companies than earlier than the pandemic, 0.7% much less, since the lack of productive cloth that occurred as a result of the stoppage of exercise in 2020 has not but been totally recovered on this phase.

In the second quarter of this yr the variety of SMEs has grown by 0.4%, which represents a slowdown in comparison with the common development of 1% registered in the interval 2015-2019.

It have to be taken under consideration that this rebound “hides a disparate behavior between small and medium-sized ones,” specifies the group chaired by Gerardo Cuerva, since whereas small ones elevated by 0.3% year-on-year, medium-sized ones did so by 3.4%.

“There have been four quarters in which the number of small companies has grown less than 1%, a situation that, excluding the period of the health emergency, has not occurred since 2014. Special mention deserves the situation of companies with up to two employees, whose number had in June twelve consecutive months of year-on-year declines (-0.7% in the second quarter) his fall worsening at the start of the third trimester, in line with a context of high costs and a complex regulatory environment that works against the survival of smaller business projects,” they clarify.