Spain belongs to the group of countries where the size of companies is extraordinarily small (Table 2.1). Micro ﬁ rms clearly prevail, accounting for c. 93.4 per cent of all businesses and 50.5 per cent of total employment. The 2003 ﬁ gures provided by the Central Business Directory of the Statistical Ofﬁ ce (Directorio Central de Empresas del Instituto Nacional de Estadistica, INE) even show a somewhat higher share of micro ﬁ rms in the total number of ﬁ rms (i.e. 95.7 per cent). Accordingly 69.1 per cent of these ﬁ rms (i.e. 66.1 per cent of the total number of ﬁ rms) have no employees at all.