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The role of small business owners will be pivotal for Spanish economic growth over the coming years as the service industry gets ready to absorb the financial strain of the weakening construction sector.

In a new report published this month by Morgan Stanley, the forecasted growth of small to medium sized businesses (referred to as PYMES- pequeña y mediana empresas, in Spanish), will create much needed employment across the country and ensure that Spain continues to develop its GDP by 2.5% and 3% over the next few years and also names Banesto as the Spanish bank best positioned to ensure this continued development.

“This is good news for the expat communities in Spain,” confirms Emma Fry, the new Small Business adviser at Banesto, Pol. Ind. Casa Grande, Torrevieja.


“Many newcomers to Spain, like Opportunity Spain readers, are choosing to go it alone and set up their own businesses, taking advantage of the increasing opportunities available from the growing euro resident communities and in turn creating much needed employment. These “pioneers” can now take advantage of the improved rights and benefits of self employed people, including social security funded sick pay as well as an array of exciting new products and services that have been created by Spanish government and the financial sector in a bid to spur on and reward further small business growth and innovation.”

Emma Fry, a British national graduate in LLB Hons European Law and Languages and post graduate in European Business, has fulfilled a number of DTI and Chamber of Commerce advisory roles in the UK and specialises in working with start ups, micro’s, and small to medium sized businesses in both the UK and Spain. She is well placed to offer a helping hand to those venturing out into the self employed world as well as to those successfully established businesses in the area that may feel that they are not benefiting from the full array of financial assistance at a competitive price currently available in Spain: up to 10% off petrol bills, maintenance free GPRS swipe machines with commission rates negotiable below the standard 2%, free internet business banking as well as specialist loans at 0% interest and flat rate current accounts with top up incapacity benefit insurance.

Streamline your enterprise through Banesto and arrange a one to one business consultation in your own language with Emma Fry: call 965714124 or email: emmaefry@notes.banesto.es or call into the new branch of Banesto C/Manuel Martínez Guirao, 2, next to the “Casa Grande” Industrial Estate in Torrevieja.

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