The challenge of jumping the 'wall' to start a business in Spain
Many young people in Spain are torn between pursuing stable public sector jobs and entrepreneurship, with only a small percentage actually taking the plunge into starting their own businesses.
In Spain, young people are increasingly faced with the dilemma of either pursuing stable public sector positions or venturing into entrepreneurship. The lure of public employment stems from its promise of stability, especially in a precarious job market. Despite this, a significant portion of young Spaniards, around 30%, recognize entrepreneurial opportunities, yet only 8% actively take the leap into starting their own businesses. Speaking at a workshop organized by EL MUNDO and Future Makers, five young individuals from various sectors shared their insights on the barriers that deter the youth from entrepreneurship.
The process of launching a business in Spain is marred by bureaucratic hurdles. The average time required for in-person processing to establish a company extends to 55 days, yet there are additional processes that aspiring entrepreneurs must navigate before and after this period. While some of these regulations are designed to safeguard entrepreneurial ventures, many young people view them as excessive obstacles that complicate their ambitions. The conversation in the workshop highlighted a need to reduce these barriers and foster a more conducive environment for entrepreneurship among the youth.
The reflections from the young participants in the workshop underscore a broader challenge within Spain's economy. The contrast between the perceived security of public employment and the dynamic potential of entrepreneurship illustrates a significant cultural and economic challenge. By addressing the bureaucratic obstacles and promoting a culture that values and supports entrepreneurial initiatives, Spain could potentially unlock a wave of innovation and self-sufficiency among its younger generations, leading to improved employment outcomes and economic growth.