Entrepreneurship is reborn after pandemic braking and exceeds precovid levels

Emit in the middle of the storm. This is the pattern that seems to be repeated during the 21st century. If the 2008 financial crisis commanded the end of th

Entrepreneurship is reborn after pandemic braking and exceeds precovid levels

Emit in the middle of the storm. This is the pattern that seems to be repeated during the 21st century. If the 2008 financial crisis commanded the end of the unemployment to more than 22% of the Spanish population and the 16% Covid19, both cases also supposed windows of opportunity for the creation of new businesses. During the first semester of 2021, 55,907 new companies have been created, according to the data of the Statistics of Companies. 8'6% of companies more than those created during the same period in 2019.

But why now? "Two factors occur at a time: the destruction of employment, which leaves many people who need to be looking for life outside the labor market, and the opportunity for new business models focused on technological innovation that the pandemic has placed on the table" , explains David Casas, director of the Master's degree in EAE Business School Entrepreneurship and Innovation.

Perhaps, that is why, among the main motivations to undertake collected by the Global Entrepreneurship Monitor Report of Spain (GEM), prepared by the Observatory of the Entrepreneurship of the Ministry of Industry, Trade and Tourism, is that of "gaining life, because work is scarce ", thus breaking with the previous trend that placed the" generation of wealth "or" reaching a higher income "between the main reasons.

Although the motivation to undertake has dropped slightly between 2019 and 2020 - of 8'1% to 7% of the active population of said years as reflected by the last GEM report - this trend follows a pattern similar to that of the 2008 crisis. If that year the intention to undertake, it was again increased considerably during the following years, reaching 12% in 2012, to fall again.

Since 2015, the trend has returned to be upstream, and despite the timid decline of last year, the intention to undertake continued to be higher during the pandemic than in years of Bonanza EconomicoComo 2018, when it was 6'8% of the active population.

The age of the people who dream of starting a business are usually around 37, while those who manage to bring this idea to good port are between 40 and 50 years old. Of these, in 2019, 6% were women and 6'3% men, in a propensity "that continues to equal both genders" since 2013. In all cases the initial economic boost when it comes to starting a business part of the Personal savings (59%) and family (7%).

Something that can be an unequal starting point for those who wish to undertake and that, according to David Casas, it can be marticiated by supporting a public administration that "ensures that the level of education in the entrepreneurship is equal for all" and that generates " Economic levers with direct aids and infrastructures "that do not see" hampered "by the bureaucracy.

According to the latest data from Coworking Spain, Barcelona (353), Madrid (290), Valencia (66), Seville (43) and Málaga (42) are cities with a greater number of coworkers. Although Madrid and Barcelona historically concentrate the highest volume of investment - 95% so far this year - also "it is convenient to talk about ecosystems with that of Valencia, Bilbao and Málaga" advises Javier Megías, Startup Director of the Bankinter Foundation and responsible for the Startup Observatory.

"Valencia is the one that grows the most in recent years, Vasco is a solid ecosystem, focused on the industry and robotization, while Malaga has worked well the international positioning, even though in practice its size is small," he says Megías

The new businesses emerged from the pandemic, have focused on the service and consumption sector (70%), while in regards to industry, health and artificial intelligence stands out. "Something that has taught us this crisis is that technology is fundamental all types of business," clarifies houses. After a fall at the beginning of the pandemic, the startups "reacted very fast", complement megies, "rewarding sectors such as telemedicine or technologies applied to education and entertainment, which have grown more than 100% per year."

New business models that have been driven by foreign investment, which has reached 84% in the second semester of 2021 according to the estimates collected in the last investment trends report of the Bankinter Foundation. Something that Megías qualifies of "historical record" and that has materialized in "rounds of more than 900 million". A tendency that, according to him, will continue on the next 10 years due to the collection of 1,300 million euros by these investors who will be destined for investment in startups in our country.

Updated Date: 18 August 2021, 20:10

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