The Covid-19 pandemic has created challenging conditions for entrepreneurs, and the number of new companies created in the last year is down by 13%. The most affected sectors are in hospitality, along with leisure and entertainment, where the number of new companies has declined by 30% and 39.7% respectively. Many other sectors in Spain have also been hurt by Covid-related lockdowns and restrictions.
These statistics are just a small example of the unique view of the business landscape we can now access and provide to our customers following Experian’s recent acquisition of Axesor in Spain. Axesor is a financial, commercial and default information services company which specialises in SMEs and the self-employed, complementing our own consumer information bureau, giving us a fuller picture of credit and default situation in the Spanish market.
So how can Experian help support businesses of all sizes in Spain? We’re strong advocates of businesses using insights from data to analyse and make high-quality decisions. Our combined consumer and business information data, with our advanced analytics and machine learning capabilities, is a unique offering in the Spanish market. We’re now able to provide insights that empower businesses of all sizes to delve deeper in to the data to understand and support their current customers, and new ones too.
These insights will help small businesses make decisions based on real-time data, saving them time and reducing costs to achieve financial security today, and build back more robustly in the future.
I’m delighted that our team in Spain have worked closely on a shared vision, and today launch their new, stronger value proposition to the Spanish market. I believe it will power opportunities for businesses of all sizes to drive Spain’s recovery from the pandemic, and help Europe’s recovery more broadly.