What is the profile of the Spanish entrepreneur?

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In recent years we have heard a lot about entrepreneurship and entrepreneurs. But do we really know what it means to be an entrepreneur and what their profile is in Spain?

Profile of the entrepreneur in Spain
With the arrival of the crisis and the lack of work, many have decided to take the bull by the horns and embark on a professional adventure on their own. Is this really entrepreneurship? There are those who believe that entrepreneurship is a vocation and that one does not become an entrepreneur because of a specific need, since for a project to come to fruition a greater motivation is necessary. Whatever the case, what is clear is that the Spanish entrepreneur has specific characteristics. According to the South Summit 2016 Entrepreneurship Map , their profile has the following characteristics:

These are some of the data from a study carried out by Spain Startup South Summit with the IE Business School and the IE Foundation in the framework of a start-up competition. The study sample consisted of 1,534 projects, 61% from Spain, 20% from Latin America, 11% from Europe (excluding Spain) and 8% from the rest of the world.

Another interesting fact about the profile of the Spanish lithuania number data revealed by the study is that the majority (51%) of entrepreneurs are "repeat offenders" and that more than half had already created a company previously, placing us slightly above the European figure (48%).

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If we analyse the motivation that leads these entrepreneurs to take this path, 62% responded that it is something they always wanted to do, a vocation . This majority is followed by 19% who joined a project they believed in, 19% did so because they wanted a change in their professional life and only 1% of those surveyed decided to start a business because they were unemployed. Although the vocation is strong, the number of those who start a business because they have always wanted to do so is still lower than in other areas such as Latin America (70%) or the rest of Europe (68%). However, the number is increasing, as it has grown by 1% compared to the previous year.


If we analyse motivation by differentiating between those who have created their first startup (first-time entrepreneur) and those who have already created more companies previously (recurring entrepreneur) , we find that 59% of first-time entrepreneurs have always wanted to do so, compared to 71% of recurring entrepreneurs. Among recurring entrepreneurs, 62% have had a first failure and 1 in 4 sold their company.

As regards projects , 55% are between 1 and 3 years old and are in the initial phases (Concept 6%, Early Stage 41% and Seed 34%). Only 17% are in the growth phase. If we look at turnover figures and number of employees, 1 in 4 companies had a turnover of more than €150,000 in 2016 and 48% of projects have 2 to 5 employees , while only 2% have more than 30 employees.

Looking at the sectors, education, followed by e-commerce and business services lead the ranking of startup occupations.


Finally, let's analyze the sources of financing, and it is that 55% of entrepreneurs use their own funds to finance their project , compared to 27% who turn to family and friends, 14% who turn to private funds, 4% to bank loans and 1% who turn to crowdfunding as a means of obtaining the money to carry out their entrepreneurial project.

In short, the profile of the Spanish entrepreneur is that of a man aged 24 to 35 who lives in Madrid, with university studies in some engineering, who finances his project with his own money and does so on a recurring basis and out of vocation, not motivated by unemployment and not discouraged by a previous failure or the sale of another company he has previously created.

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