“Internationalisation is no longer an aspiration, but a strategic necessity to grow, diversify risks and strengthen business competitiveness.” With this premise, the director of Madrid es Noticia, Héctor Salazar, opened the roundtable “SMEs Expanding: Growing in New Markets”, held in collaboration with BBVA, and featuring Luis Socías, Managing Director of Invest in Madrid.
The event also included Alejandra Esparza, SME Segment Specialist at BBVA; Jacobo Vidal, CEO of Greenkeeper Iberia; and Martin Mehrabyan, Executive Director of Live Fish.
During the discussion, which analysed the challenges and opportunities of the internationalisation of Madrid-based SMEs, the speakers agreed that business growth increasingly depends on looking beyond the domestic market, supported by innovation, diversification and financial backing.
The moment to take the leap: from doubt to opportunity
The first session addressed the turning point many SMEs face: deciding whether to continue growing in the local market or explore opportunities abroad.
From a business perspective, Jacobo Vidal explained how this moment came for Greenkeeper Iberia when they identified a clear opportunity outside Spain: “Our real opportunity was abroad, in long-distance transport between America, Europe and Asia.” From that point on, the company began a gradual expansion process with limited resources: “We started very modestly, visiting distributors and attending trade fairs without a stand.” Today, the company operates in more than 50 countries, with subsidiaries in strategic markets such as the United States, Chile and Colombia.
In a similar vein, Martin Mehrabyan stressed that internationalisation was a necessary decision due to the lack of growth potential in the domestic market: “We decided to expand abroad because we could no longer grow in Spain.” His company has focused on origin-based projects, particularly in Africa and Latin America, combining import, export and local production.
From an institutional perspective, Luis Socías highlighted the growing interest of foreign SMEs in establishing themselves in the region: “More than 51.9% of foreign investment in Spain in 2025 came to Madrid.” In this context, he defined the region as a global strategic hub: “Madrid is consolidating its role as a bridge between Europe and Latin America.” However, he also warned about the initial challenges: understanding the market, identifying key stakeholders and finding suitable local partners.
For her part, Alejandra Esparza focused on the role of the financial sector as a facilitator of the process. At BBVA, she explained, efforts are made to support companies in taking this first step, highlighting three key benefits: “Internationalisation allows companies to diversify income, access new growth opportunities and acts as a driver of internal transformation.” In this sense, she stressed that expanding abroad not only opens new markets but also strengthens business structures.
Beyond the European Union: diversifying to grow
The second session delved into the need to broaden horizons beyond the European market, traditionally the primary destination for exports.
Luis Socías noted that 75% of Madrid’s exports are directed to the European Union, although there is increasing interest in other markets. However, he warned of the main barriers: “Tariff policies and protectionism, along with the need for certifications, are the main obstacles to market entry.”
From a practical standpoint, Jacobo Vidal explained how his company made an early bet on the Americas, leveraging factors such as language, culture and production structures: “European certifications, which are a requirement here, become a competitive advantage abroad.” This factor, together with educational efforts with local producers, has enabled the company to open markets in sectors where demand previously did not exist.
In the case of Live Fish, Mehrabyan highlighted structural differences between markets: “In many countries there are resources, but a lack of technical knowledge.” Therefore, the company focuses on transferring know-how from Spain, improving production and generating added value at source.
From a financial perspective, BBVA plays a key role in managing the risks associated with these markets. Alejandra Esparza explained that approximately 40% of Spanish exports are already directed outside the EU and that this process requires specific tools: “It is essential to analyse country risk, manage exchange rates and have solutions such as export financing, guarantees or documentary credits.” She also highlighted the importance of the bank’s international presence, which facilitates operations in destination markets and reduces uncertainty for companies.
Innovation, digitalisation and AI: new drivers of internationalisation
The third session focused on how technology is transforming access to international markets, reducing traditional barriers.
In this context, Martin Mehrabyan stressed the importance of local partners as a key element for operating in certain markets: “We always look for a reliable local partner; without one, we do nothing, especially in Africa.”
Jacobo Vidal, meanwhile, highlighted the impact of digitalisation on daily operations: “Selling can be easy, but getting paid is the tricky part,” he noted, pointing out that current financial tools have significantly improved risk management. He also praised advances such as instant international transfers, agile financing and seamless communication: “Today, you can operate internationally much more easily than five years ago.”
From Invest in Madrid, Luis Socías explained that the institution acts as a one-stop shop to facilitate the arrival and expansion of companies, offering strategic information and support in dealing with public administration: “Our goal is to remove barriers and streamline processes so that companies can establish themselves more easily.”
Finally, Alejandra Esparza emphasised the transformative role of artificial intelligence and digitalisation: “Technology is reducing the traditional barriers to internationalisation.” Thanks to data analysis and digital tools, SMEs can identify opportunities, better understand their customers and operate more efficiently. In this regard, she highlighted the solutions BBVA offers to companies, from integrated digital platforms to collaborations with partners specialised in market analysis.
A strategic lever for the future of business
The roundtable made it clear that internationalisation has become a key driver for the growth of Madrid-based SMEs in an increasingly competitive global context.
Beyond the challenges—regulatory, cultural or financial—the speakers agreed that opportunities outweigh barriers, especially in a scenario where technology and the support of institutions such as BBVA are democratising access to international markets.
In a changing geopolitical environment, the ability to diversify, innovate and adapt is emerging as the main differentiating factor for companies. And along this path, Madrid is strengthening its role as a strategic hub, while SMEs consolidate their presence on the global stage.