The impact of industrialization on the financing system. Bidding documents, off-site appraisal, Project Execution Managers…

Access to financing is crucial for companies in the industrial sector when it comes to meeting the challenges of digitalization and the energy transition. Achieving greater productive diversification towards higher value-added activities and integrating innovation into all stages of production requires access to long-term sources of financing that are aligned with the requirements of these challenges. Business size is a determining factor in terms of access to financing, and the small average size of industrial companies is an added difficulty both in terms of having their own resources and in accessing external financing. This external financing, moreover, in the case of small companies, consists mainly of bank credit. Access to this credit is determined by the information available to the entities about the SMEs and by the capacity to provide guarantees or collateral for the loans. We have a different financial structure, from the very moment that the bidding of an industrial process requires collaborative work -not allowed in general in our bidding system-, which has not updated its legislation to the facts of understanding a work process that is not carried out on the “construction site”. There will be a discussion on the mechanisms that we should update and on the alternative mechanisms if they are not updated.