Main results GEM Spain Report 2022-2023

• The GEM Spain 2022-2023 report reveals that entrepreneurial activity has returned to pre-pandemic levels
• The business services sector (B2B) stands out as a technologically advanced entrepreneurial niche

The GEM Spain report 2022-2023 reveals that entrepreneurial activity in Spain has returned to pre-pandemic levels, with an increase in the participation of women and greater digitalization and innovation in initiatives, highlighting the business services sector (B2B) as a technologically advanced entrepreneurial niche .

This report also includes the growth rates of entrepreneurial activity in relation to 50 countries, where Spain is one of the most developed economies. Although the business abandonment rate has increased, Spain has the lowest closure rate among reference countries, observing a phenomenon of serial entrepreneurs, that is, entrepreneurs who abandon one entrepreneurial initiative and start another again. A key factor responsible for this fact is education, since it influences entrepreneurial activity directly, with higher rates at higher educational levels.

The motivation to start a business is mainly self-employment, with profiles of entrepreneurs between 25 and 42 years old. Currently, the entrepreneurship rate between men and women has equalized, with women tending to undertake consumer services with a social and environmental focus, while men focus on business services, with greater capital and technology needs.

Despite the limited perception of opportunities and the fear of failure, the level of income is not a determining factor for entrepreneurship in Spain. Entrepreneurial initiatives are financed mainly with own resources and do not depend significantly on subsidies or investors.

However, Spain shows an unfavorable position in terms of perception of conditions for entrepreneurship, but is in the middle of the table in innovative capacity. However, there is concern about the lack of job creation in new companies, which may affect their capacity for innovation and international expansion.

The GEM Spain Network, supported by ENISA, has been fundamental in monitoring and analyzing the entrepreneurial spirit in the country for more than two decades.

The GEM Spain 2022-2023 report highlights the resurgence of entrepreneurial activity in Spain, with an increasingly digital and innovation-oriented approach. Although there are challenges such as the limited perception of opportunities and the lack of job creation in new companies, the country shows a solid innovative capacity. It is very important to continue promoting entrepreneurship through policies that promote business education and facilitate access to financial resources, in order to boost economic growth and long-term competitiveness.