Despite the economic and political crises experienced in recent years, Business opportunities in Spain they are numerous. Spain represents the 4th most relevant market in the European Union. With 46.6 million inhabitants and a Gross Domestic Product of approximately 1.3 trillion dollars, the Spanish economy grew by 2.8% in 2018. Thus, it exceeded the average in the euro zone.
The digital industry is the area with more business opportunities for startups and small businesses. In recent years, one in three projects received were framed in this area, contributing significantly to the Research and Development (R&D) strand. In addition, the pharmaceutical, automotive, tourist, environmental, biotechnology and energy industries are part of the largest Spanish industries.
Major cities most suitable for startups
According to Valuer.ai, Madrid and Barcelona represent, respectively, the 23rd and 24th best cities for startups in a ranking of 50 cities worldwide. The main reason Madrid finds itself in this position is that it demonstrates the skills to expand and stabilize internationally. On the other hand, in the case of Barcelona, the large investments made in the startups (700 million dollars in the year 2017).
However, in this article it was also mentioned that Spain loses a lot, compared to the other countries listed, due to the fear of taking risks on the part of entrepreneurs, which results in a focus on risk minimization rather than innovation. Individual success is viewed with suspicion rather than support, which leads entrepreneurs to play it safe and miss out on bigger opportunities.
Likewise, these two Spanish cities are listed in the 30 most exciting cities and startup hubs in Europe, developed by siliconrepublic. Barcelona for its ecosystem of startups robust and diversified and Madrid for its history and culture and pointed out as the future.