Trivu reports 35% of Spain's youth want to start their own business

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

35 percent of young people want to start their own business, according to the data provided by the young talent ecosystem Trivu, which has analyzed this sector in celebration of World Entrepreneurship Day.

The 'marketplace' or online sales platforms are the sectors that most attracts young people, with 40% interested in setting up one, followed by consulting (24%), hotels (14%) and design (14%), according to data provided by Trivu.

The results of the Global Entrepreneurship Monitor (GEM) project indicate that the average age of the Spanish entrepreneur is 38.4 years and that 60% are men; in this context, a recent Trivu survey indicates that 35% of those under 30 are willing to start their own business.

Almost half of the entrepreneurs have a university education

In this context, 49.2% of the entrepreneurs identified in the initial phase and 49.4% of the potential entrepreneurs in Spain have university studies, with specific training to create companies, according to GEM.

However, this could be a declining trend, since Trivu points out that only 14% have the objective of finishing their studies before starting a business.

Also, the survey shows a certain discontent with the educational model: 52% consider it important that university professors are active in the professional world, 81% want to have subjects that can be applied to the job they will have and 67% he wants to learn how the labor scene works while he studies.

25% of startup entrepreneurs are from large cities

The Trivu study emphasizes that the big cities of our country, as you would expect, are the places that receive the most emerging projects; Madrid leads the ranking with 45% of entrepreneurs, followed by Barcelona (38%) and Valencia (7%).

In the case of international expansion, since the success of a startup lies most of the time in the reproducibility of the model, the favorite destinations outside of Spain are the United States and Germany (with 21%), Australia (17%) and the United Kingdom (10%).

Entrepreneurship has also become an important driver of Spanish innovation, with 1,227.09 million euros invested and 156 accelerators established in 2018, according to the Investment Guide for Startups 2018-2019.

Although most of these projects are supported by private investors, this study points to a high interest of the large groups and corporations, which already account for 25% of the drivers of these initiatives.

In terms of funding, on average, the minimum cost to establish a startup ranges between 4,000 and 5,000 euros, depending on the sector; 31% of respondents from Trivu believe that they will need less, but the same percentage ensures that they will need between 5,000 and 10,000 euros.

To obtain this capital, 45% would seek private or public investors, compared to 28% would start the project with personal savings; 10% would resort to capital loaned by friends and family and 9% would opt for loans with financial institutions.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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