42.5% of Andalusian companies, mainly technological and 100% digital, have revised upwards their turnover and profit forecasts for 2021. The core business of these companies has been revalued in the context of the COVID-19 pandemic and 47.5% are satisfied that they have overcome the first stages of the pandemic with a great effort to adapt and diversify their business areas. These are figures from the latest report by BDO, one of the largest global professional services firms in Spain and the world.
José María Silva, managing partner of BDO in Andalusia, highlights that: “50% of the companies analysed in our report further developed cloud operations and boosted the offer of digital products and services”. He also points out that “7.5% increased their presence in marketplaces, bought IT equipment and carried out financial restructuring in the first months of the pandemic, shifting strategies towards the digital sphere, something that is consolidated when analysing their forecasts for the coming years and will systematise performance”.
In addition, 45% plan to directly bring in new partners or shareholders in 2021. 25% plan to create a subsidiary company with a new line of business and 12% want to acquire another company.
Of all the companies analysed, 30% have a less optimistic short-term outlook because the crisis has hit hard at the waterline of their business model. They now intend to identify new products and services to offer and focus on sustainability.
The innovation ecosystem in Andalusia has another of its great strengths in the renewable, clean, and green energy sector, and investors are expected to increase their participation in it in the coming years.