Spain remains an important market and business partner for the UK. It is our 8th largest export market (9th for goods), with bilateral trade of goods and services amounting to over £40 billion annually.
The UK is the 5th largest investor into Spain, and since 1993 the UK has represented 21% of all FDI into Spain. The latest Business Barometer report from the British Chamber of Commerce estimates that British companies are responsible for 240,000 direct and indirect jobs in Spain. Key Spanish companies such as Ferrovial, Iberdrola and Santander all have significantoperations in the UK, and over 700 UK companies operate in Spain.
Spain is also the second most important investor in Latin America. Many Spanish companies have large distribution capabilities in the region, and collaboration with Spanish companies can help UK companies gain access to opportunities in Latin America. Spain is now investing in its research and development (R&D) capabilities and aims to spend 2% of GDP on research by 2020. The ‘Science, Technology and Innovation Strategy’ set out a vision to 2020 which focuses on increasing international collaboration and promoting more private participation and involvement in R&D.
About the guides
The main objective of this Doing Business in Spain Guide is to provide you with basic knowledge about Spain; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.
We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point.
This FREE guide is available in 4 formats:
Available on the iTunes App Store and Google play