Here's how Spanish statisticians are choking SMEs

The toll of reporting to Spanish statistical agencies is a real threat to small firms, reports Spanish newspaper El Mundo.

Reporting requirements are particularly costly for smaller businesses, who find it difficult to file the necessary paperwork, and often have to outsource the work.

Businesses that don't comply face fines of €60 ($9) to €30,050 (£24,740). According to the Spanish Confederation of SMEs, Cepyme, that cost of complying with compulsory statistical reporting requirements is continually growing.

That could be a real threat to job growth, as red tape makes the operational costs of starting new ventures higher, putting a brake on employment.

Cepyme acknowledges the value of the statistical data, but says that a review of the procedures is necessary, as costs continue to mount.

Spanish unemployment stood at 25.8 per cent in December, according to Eurostat, with youth unemployment at an eye wateringly high 54.3 per cent.