News
21/09/2018
More entrepreneurs in the Basque Country
According to GEM 2017/18, there has been an increase in the number of people who start up businesses in the Basque Country. The research team at the University of Deusto, the University of the Basque Country and the Mondragon University GEM (Global Entrepreneurship Monitor) has presented the latest data about entrepreneurship in the Autonomous Community of the Basque Country. This data allows the institutional authorities to determine the public policies necessary to promote economic and business activity. The research has also shown an updated photograph of entrepreneurship in this region.
Basque entrepreneurial process
The entrepreneurship in the Basque Country has made a significant difference in the period from 2017-18 to 3.3% in 2016 to 5.8% this year. The consolidation of the business consolidation is gradually recovering and the aging of the population has risen considerably, due to the fact that the number of employers who retired is evident, that is, the figures left by their activity.
Profile of the entrepreneur
The Basque Country's entrepreneur profile is one of the men (59%), with an average age of 40, with a high level of education and a high income level. Opportunity identification is the main reason for the action.
Financing
In the BAC there is evidence of an increase in capital stock of the event, 23,500 euros (15,000 euros in the state area). There is also an important increase in beginner projects that require high investment (> 150,000 euros). The promoter of the group promoter is, as usual, the main source of financing (45%). There are financial institutions (15.71%), specialized investors (10.72%), family transfers (10.36%) and public support programs (9.82%).
Employment creation, innovation and internationalization
New companies have the capacity to generate employment: there are fewer initiatives aimed at self-employment and more are projects that involve creating one or five jobs. As regards innovation, they are an innovative product or service, lack of competitors and technologies that are less than one year, once again, the strengths of Basque entrepreneurship. The internationalization of new businesses, however, remains stable.
Perceptions and attitudes of Basque citizenship
The perception of the existence of good business opportunities has increased in recent years, reaching 30.6% and has recovered from the economic downturn. The fear of bankruptcy has been reduced as an obstacle to entrepreneurship in the last year. This is a positive data, which will make it easier for more people to create a new business.
There is also a special impetus for Basque women entrepreneurs: they detect more opportunities, they are less afraid of failure and they have more confidence in their knowledge and skills in the face of men.
The Basque Country's entrepreneurial culture indicators are steadily up and down, although they show interest trends. The equity indicator of the standard of citizen's life is a positive asset, its trend continues to rise, which began with the financial crisis. Other indicators measure entrepreneurship with a good professional option or entrepreneurs with a high social and economic status and rising these values, even after experiencing an emergency during the economic crisis.
There has also been a rise in the number of news that leads to successful media activists, taking into account the measured time horizon (since 2005), which reflects the efforts made by public institutions to make this account visible.
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