State of Entrepreneurism

Current State of Entrepreneurism in Spain

Entrepreneurial trend in Spain

Unemployment rate in Spain is a matter of concern. It drives people into setting up businesses. Nevertheless necessity driven businesses tend to fail more often than not. Spain has encouraged self-employment for a long time. Now, the nation has taken measures to encourage entrepreneurship too. It goes the extra mile in form of entrepreneur visas as well.

The unemployment problem…

Spanish workers have a hard time in labor market since very long. The economic crisis has resulted in an unemployment rate of 25%. It means 4.5 million Spanish workers are without a steady job. It forced people into setting up their own businesses. From young lads who never had a job to out of job senior citizens, everyone has brought into this trend.

Measures taken by the government

The government has taken up measures to nurture entrepreneurship. They have offered lucrative discounts on social security contributions. They have merged unemployment benefits with aid for setting up businesses. People can capitalize unemployment benefits in a single payment. Advice and guidance have been provided to employment offices. The government does everything reasonable in its power to offer second chance for failed entrepreneurs.

What expert critics have to say?

Experts refer to a potential entrepreneurial bubble. They feel entrepreneurism is encouraged in an irresponsible way at the moment. Significant numbers of businesses lack a solid business model. With the absence of a novel idea, these businesses are bound to fail. The experts want the government to streamline investment of funds in training and guidance for aspiring entrepreneurs.

Summing it up…

Though there have been complaints, Spanish government seems all ears to them. The responsible approach towards improvement makes Spain a promising location for investments. In the aftermath of all the debate going on now, the ecosystem will promote responsible entrepreneurship.