17 Sep, 2020 @ 17:10
1 min read

Rise in numbers of Spanish entrepreneurs setting up businesses during Covid – but female businesses are still outnumbered by men

Bank Of Spain

PLUCKY young entrepreneurs are refusing to let COVID-19 stop them from a profit. Encouraging figures released by the Association of Statistics of Commercial Companies shows that the same number of new businesses signed up to the commercial register as in 2019. 

During July this year, 1,278 tycoons took the plunge and set up on their own, bucking the trend from the first quarter 2020.

Malaga has become the epicentre of new businesses, with 29% of the total, closely followed by Seville with 27.1%.

Jonathan Holdaway Bank Spain

The most popular sector for start-ups was in the Commerce and Repair industry which includes retail, sales and trades such as mechanics and electrical repair.

Real Estate and Hospitality have also seen a boost during the ‘new normal’. .

Based on gender, 73.4% of registrations were applied for by men, with women making up just 17.3% of the applications  

According to experts, the rise is possibly related to the record unemployment figures during the coronavirus pandemic.

The amount of people being laid off from their respective companies has forced many to attempt to go it alone.

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