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Companies in Catalonia open accounts and stop investments

According to a PIMEC survey, 11% have opened bank accounts outside of Catalonia, 10% have stopped investments and 9%, will in the near future

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About 1,300 companies have moved ir head office outside Catalonia because of political uncertainty in process of independence. This figure represents 1% of SMEs of community, according to a survey of Association of Small and Medium enterprises of Catalonia, Pimec. The survey points out, however, that anor 2.2% of companies are moving forward, while 15.7% say y do not know if y will. The study also sheds data on impact of financial uncertainty: 11% of companies have opened accounts, 10% have stopped investments and 9% will in near future.

The PIMEC survey on impact of political conflict is based on a sample of 401 interviews on a total of 130,000 SMEs of up to 250 workers, bulk of Catalan economy. In presentation, president of Pimec, Josep González, wanted to relativize se effects and to support sis of Vice-President of Generalitat, Oriol Junqueras. Gonzalez said that Vice-President has given necessary explanations on flight of companies, and that y are based on fact that transfer of social seat has no effect on economy, since activity and workers continue in Catalonia.

Learn More
  • The flight of companies already sum 917 changes of registered office
  • The large companies that leave Catalonia
  • Seat's business committee ensures that management receives pressures to move its headquarters
  • Junqueras, crime of against Catalan homeland

However, study points out that, in addition to 1,300 companies that have already gone, 2.2% of SMEs are thinking of transfer, and a broad 15.7% are hesitant. The president of Pimec was saddened and worried about recent changes of address: "It is as if we get a molar." In addition to PIMEC survey, this Friday college of Registrars of Spain updated data on entrepreneurs who have already made this change of seat in Official Records after approval in ir board of directors: 1,185. "The rhythm is between fifty and seventy companies a day," he explained to El PAÍS Luis Suárez, dean of Barcelona registrars.

The drip of known companies that have made that decision has accelerated and includes large prices of Ibex as Natural Gas, CaixaBank or Sabadell, centenarian companies like Codorniu and ors popular like Bimbo or owners of Cola Cao.

This Friday, historical company Cementos Molins decided, in its board of directors, to move to Madrid. The Cementery, founded in 1928, leaves its domicile of Sant Vicenç dels Horts after a long business trajectory in which company also had its relationship with politics. Joaquim Molins, who passed away last July, was CEO of cement company until he left post to focus on his political career, which led him to be a congressman, counsellor of two Governments of Jordi Pujol and candidate for mayor of Barcelona By old Convergència I united.

The PIMEC survey also provides information on legal and financial uncertainty in face of a possible declaration of independence. 54% of respondents declare that y do not feel restless. However, 11% have opened bank accounts outside of Catalonia and 13% will in coming days. In addition, 10% of respondents claim to have stopped investments, and 9% will in near future. The President of SME Association warned that in long run it can be a danger that companies that have moved headquarters decide to invest outside instead of doing so in Catalonia.

The President of Pimec responsible this situation to Spanish Government and to decree that allows companies to move ir headquarters without going through a shareholders ' meeting, a decree that, however, hardly affects SMEs. Gonzalez appealed to dialogue and avoid scenarios of boycotting Catalan products, but strongly criticized "alarmism" of government and employers ' promotion of work, which have recently ensured that flight of companies compromises economic growth.

A meeting with multinationals has been cancelled

At same time as Vice-President of Generalitat, Oriol Junqueras, says that transfer of social headquarters has no effect on economy of Catalonia, it also deploys efforts to convince entrepreneurs that re is no risk in a Catalonia Independent.

This week, vice presidency of GENERALITAT has disseminated a report in which it gives arguments to reassure consequences of an independence process. This Friday, Vice-President was to meet with multinational companies, including Alstom, Hewlett Packard or Microsoft. This meeting, which pretended to be discreet, was finally cancelled because it had become public.

The PSC parliamentary group accused Junqueras of "not giving face" to flight of companies of last days. For this reason, he requested appearance of Vice-President of Generalitat and Minister of Business, Santi Vila, in commission of Business of Parlament, where Socialists have a majority along with Catalunya yes that is Pot.


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