the economy of spain
Widely known for its fiestas and harmonious language, Spain has also got powerful economic sectors that are worth being explored. Spain is an important player in the European economy. The fact that it is part of the EU countries builds a strong economic bundle between the other players. According to statistics, 62% of Spain’s imports are coming from EU countries and 67% of Spain’s exports are going to the EU. Next you will discover why it can be a good choice to expand your business in Spain.
The crisis that it faced a few years ago did not have a crucial impact on the economy as a whole because it managed to recover pretty fast and to stabilize its economy. However, the recovery was not fully completed, and Spain still has some negative factors like the low birth rate or a lack of technology development. Despite some disadvantages, the value of this country can be used to make great improvements for your business and to take it to another level.
spanish culture
Before we start talking about business, let’s look at some facts regarding the Spanish people. It is good to know that Spaniards are much like Romanians. They are friendly and seem to have a good mood all the time. They enjoy talking with different kinds of people, so it is important to show trust and a positive attitude. This is why it will be easier for you to make a good impression and to be liked by them.
Similar to Italians , Spanish people like to first create a good relationship with the business partner and then talk business. Try to be relaxed and do not stay too focus on the purpose of making a good deal. They don’t want just to have a business partner, but to meet a new person and have conversations about other things too. Having an open and friendly person by their side is more important for them than to see a cold attitude with a perfect business plan.
meeting rules
Making business is not just a simple date with a foreigner. Besides conversing and having fun getting to know each other’s culture, it is important to keep some things in mind.
Firstly, when making an appointment prepare yourself to understand their culture and their way of working. Spanish people are likely to be late, so try to stay calm and respect their actions. Another important thing to remember is that they have the highest number of holidays in Europe, so be careful when you decide on the date of the appointment.
As mentioned before, Spanish people want to create a personal and social relationship before talking business. Do not feel uncomfortable if you will be asked a lot of questions about different topics. Try to be honest and open with them, and you will gain their trust. Also, Spaniards are curious people, so, expect to be interrupted while speaking. This is not a sign of disrespect, but a sign of curiosity and interest. Make sure your business plan is clear and all of your partners do understand the presentation cause. Spaniards don’t like to admit when they do not understand something. It is important to follow their reactions and to give as much information as possible.
the business part
When expanding your business abroad it is important to consider the following things:
- Your services/products, will they have success on the market?
- You can fit into this country’s culture?
- You do know all the legal procedures and rules?
The first thing is up to your own business, so you have to conduct researches about it. For the second question we have already mentioned the most important things in the Spanish culture. The answer to the last question is much complex because you will need an expert to consult with, and to help you implement your idea.
As a general information, Spain is part of the EU and therefore plays a big role in other countries’ economies. This thing can give you more opportunities and chances for your business to grow there. The most common forms of business are corporations and limited liability companies. Both of them need to follow several regulations. Depending on your business form, you can search for more information and get support from a specialist on the legal procedure.
Thanks to their friendly character and its open culture, Spain can be a good choice to expand your business. Of course, you must find the best area for expanding your business and the best way to make it. I hope this information gave you a better view of this country if you decide to expand your business in Spain.
