Companies see absenteeism and taxes as challenges for 2026

BarcelonaThe current situation is positive. Growth prospects remain good for this newly begun 2026. In general, Spanish companies are more optimistic than their European counterparts, although several variables cloud their potential, such as high tax rates and absenteeism—especially sick leave—according to employers' organizations. These are essential elements, they affirm, for improving competitiveness and productivity. A key positive point is exports—once the initial shock of tariffs in the trade policies implemented by Donald Trump in the US has subsided—despite geopolitical instability, according to the survey results. Business Outlook 2026 which are prepared annually by European chambers of commerce, including the Spanish chamber, chaired by José Luis Bonet.

Non-financial companies were already showing positive balances in 2024, with net ordinary income growing by 8.2%, less than the 9.5% of the previous year, but still at a healthy pace. Net revenue accelerated, moving from near stability in 2023 to a 2.3% increase in 2024. This trend remained positive in the first three quarters of 2025, according to the Bank of Spain's balance sheet database. According to two-thirds of the companies surveyed, labor costs are among the main business concerns. The shortage of qualified personnel and administrative burdens complete the list of challenges cited by company representatives. Added to these factors is the depletion of Next Generation EU funds, which have been a real stimulus for growth and whose expiration in 2026 could lead to a gradual slowdown.

The situation of key trading partners such as Germany, France, and Austria is also a concern, as their outlooks show negative balances, which could affect Spanish exports. The Spanish economy enters 2026 with solid expectations but with signs of a possible moderation in the pace of growth, in a global context marked by uncertainty in powers such as the United States and China.

The Barcelona Chamber of Commerce also maintains a positive outlook, increasing its 2025 growth forecast for Catalonia from 2.6% to 2.9%, while keeping its 2026 estimate at 2.4%. This organization, chaired by Josep Santacreu, who is also the president of the General Council of Chambers of Commerce (a group of the thirteen existing chambers), considers them key drivers of the Catalan economy. This growth will be supported by population growth, increased employment, higher corporate profits, and a recovery in the construction sector. The Chamber and AQR-Lab continue to see a dynamic labor market.

According to the BBVA Research report Situation in Catalonia. Second half of 2025Supply problems will persist in industry, some services, and construction. As the unemployment rate has fallen, companies are finding it more difficult to find workers with the online skills they need. The lack of human capital in some sectors, particularly construction, is compounded by a short- and medium-term generational replacement problem. Other issues (specialization, housing affordability, etc.) may also be contributing.

This same study states that the most recent demographic projections suggest that the moderation of migration flows will slow population growth, especially among the working-age population. Catalonia currently maintains greater demographic and migratory dynamism, but a slowdown could also be observed here, potentially creating some bottlenecks in the labor market, according to BBVA Research. One point of agreement between the two Catalan employers' associations is the tax burden. Fomento del Trabajo, chaired by Josep Sánchez Llibre, advocates for "a more competitive tax framework that reduces the pressure on productive activity and incentivizes investment." This organization persists in its demand to eliminate the wealth tax, limit inheritance and gift taxes, reduce taxes for the self-employed, and abolish the extraordinary tax on banks. For its part, Pimec, headed by Antoni Cañete, denounces that "SMEs continue to bear a disproportionate tax burden" and advocates for "a tax system adapted to the reality of our business fabric," which is based on SMEs and micro-enterprises. That is why it insists on "the importance of legislating with small businesses in mind." The fact is that taxation depends heavily on size. Large companies paid an average effective tax rate of 8.87% on profits; micro-enterprises, 15.32%; small businesses, 18.65%; and medium-sized businesses, 16.92%, according to data from the State Tax Agency for the 2023 fiscal year. In any case, a progressive reduction of tax rates based on company size came into effect last year. Micro-enterprises are initially taxed at 19% on the first €50,000 of profit and at 21% on the remainder. This rate then drops to 17% from 2027 onwards. Those with a turnover exceeding one million euros are taxed at 23%, later decreasing to 22% in 2027, 21% in 2028, and 20% in 2029. Larger companies remain at 25%.

Another major challenge concerns the labor market, talent, and training. According to Fomento, "We are suffering from a shortage of professionals, a demographic challenge, and increasing absenteeism. It is necessary to strengthen collective bargaining, prevent the legal reduction of working hours and mandatory timekeeping, promote a plan against absenteeism, and commit to... reskilling (professional retraining), dual vocational training, and attracting international talent." Pimec, for its part, emphasizes that "it is essential to address the major problems plaguing the business sector. On the one hand, the high rate of absenteeism requires a comprehensive approach and the implementation of specific measures. On the other hand, the low productivity of Catalan SMEs, which is 8% below the European average and affects their competitiveness."

A study by the Bank of Spain highlights that "since the pandemic, there has been an increase in the number of workers on temporary disability leave (TD). The rate is above 6% (with data from the third quarter of 2025), with a growing trend in recent years. This includes agreed hours not worked due to unforeseen circumstances, ranging from TD due to common illness or non-work-related accidents to paid leave for birth, adoption, childcare, or absences due to labor disputes." [BK_SLT_LNA] Costs and productivity are being discussed, and measures to control potential fraud are being demanded. In contrast, unions emphasize the health and rights aspects. Other elements of concern include [the following]. The need to work towards affordable housing, which "is a cross-cutting problem and requires legal certainty, eliminating the 30% reserve, and activating public-private partnerships to mobilize land." This business organization estimates that an annual investment of 5.5 billion euros in infrastructure is necessary, along with accelerating the implementation of renewable energies, extending the life of nuclear power plants, and improving water management.

It also bets on Increased investment in research and development to boost business competitiveness, deploy artificial intelligence, and strengthen digital skills, especially in SMEs, through public-private partnerships. And the simplification of procedures, reduction of bureaucracy, and a comprehensive plan to alleviate the burden on the justice system, as a foundation for building trust and facilitating business investment.

Pimec believes that 2026 presents a new opportunity to strengthen the competitiveness of SMEs and self-employed professionals, who will face significant challenges in a context marked by uncertainty and rapid change. A key demand must also be emphasized: "The need for fair funding for Catalonia, funding that drives growth rather than draining it, to avoid stalling the economy."

"Addressing these issues is essential if we want our companies to grow. Pimec points out that 94% of Catalan companies have fewer than ten employees, and SMEs represent 99.8% of the total, while only 0.2% are large companies—a much lower proportion than in economies like Germany. To overcome this deficit, a structural boost to business growth is needed to enhance the competitiveness of our business sector," the organization, chaired by Antoni Cañete, emphasizes.