40.9% of Spanish SMEs expect to generate more revenue in 2026, but 66.7% foresee keeping their workforce unchanged. Margins and rising costs weigh on that decision.
The 40.9% of the Spanish SMEs surveyed expect to generate more revenue in 2026, but only 15.6% plan to create jobs. This is reported by directivosygerentes.es based on the III Report on SMEs and Self-Employed in Spain, prepared by Hiscox.
The study shows that 36.5% of participants are confident in achieving higher profits, the highest figure in the report's forecast series. Nevertheless, the proportion expecting to sell more is slightly below the 42.8% recorded in 2025.
Two out of three businesses surveyed (66.7%) believe they will maintain their workforce unchanged throughout the year. For SME management, the report separates three decisions that are often confused: selling more, obtaining more margin, and taking on new fixed costs.
Hiscox notes that 76% of SMEs have experienced a significant increase in operational costs over the past year. The survey does not state that this pressure is the cause of all hiring decisions, but it does show the context in which they are made.
The size of the business introduces differences. Among companies generating more than two million euros, 47.9% are confident in improving their profits, and 23.2% expect to hire staff. Below that threshold, the proportions drop to 34.6% and 14.3%.
By sector, industry appears among the activities with the best prospects: 56.7% of the industrial businesses surveyed expect to increase their profits.
The data comes from an online survey conducted from June 1 to 11, 2026 with 401 individuals involved in business decision-making. It reflects expectations for the fiscal year, not sales, profits, or hiring already made.
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