Spain is considered an entrepreneurial country. In fact, the Global Entrepreneurship Monitor Report of Spain 2018/2019 reveals that the Entrepreneurial Activity Rate (TEA) is ascending to 6.4%, one point higher than three years ago.
Also, the report shows that the TEA is day after day getting closer to reaching the levels that it was at before the crisis of 2008, which were placed at 7.6%. Likewise, it is important to highlight that 71% of entrepreneurs start a project because they have a plan that they believe in, not only as a way of self-employment.
According to the above-mentioned report, the apparently promising and exciting situation can be truncated by some obstacles that young people usually face with financing, taxes or bureaucracy imposed by public administrations.
So, in order to eradicate these barriers, momentum from Government and companies is necessary, with financial tools to promote entrepreneurship, i.e. new employment and a firmer Welfare State in the long run.
A country and a society that turn talent away are condemned to an impasse. It is important to recognize the courage of an individual who takes the leap towards the business world, as his/her work implies an immense effort. That’s why it is essential to be well-assessed and to learn how to combine creativity and corporate strategy.
Young entrepreneurs must be cautious to manage the budget and not spend most of it in the business plan. As a consequence of this mistake, it is possible that the project doesn’t prosper. It is better to start a business using all the possible tools on the basis of good financing advice.
Santander X, the global network of entrepreneurship
Banco Santander is aware of the importance of supporting entrepreneurship as a capital element for the prosperity of society.
In fact, the entity presided over by Ana Botín financed, with 160 million euros, entrepreneurs with low resources and without access to basic banking services to create a SME, which is key to starting the economic growth engine.
Entrepreneurship only can exist with talent, good ideas, important planning, enough financing and specific advice
Also, Banco Santander especially focuses on supporting the talent, new ideas and the entrepreneurial behavior of university people. All of this through Santander X, its star global network of young entrepreneurship. Thanks to this network, students can show their ideas and improve them.
The entity connects them with the three indispensable resources for any entrepreneur: talent, clients and financing with the goal of turning their ideas into a real business.
Learning from the best
The program Explorer, Jóvenes con Ideas (Explorer, Young People with Ideas) is included within the framework of Santander X. It is an initiative fundamentally aimed at Spanish entrepreneurs that this year has trained and advised 1,812 university people. During its 9 years of existence it has contributed to the creation of 600 companies and has promoted the projects of more than 6,000 young people.
As every edition, the 54 best entrepreneurs will be able to visit Silicon Valley next days, the Mecca of the innovation, where there are companies such as Facebook, Apple or Google.
This experience lets them attend master classes in prestigious universities and learn from the best entrepreneurs across the world. Therefore, they come back to Spain with new ideas and ways to turn them into reality.
Banco Santander, along with the collaboration of Centro Internacional Santander Emprendimiento, intends to inspire young people and give them contact and financing networks for their future businesses to be successful.
Woman Explorer Award for entrepreneurial women
Explorer, thanks to the collaboration of Fundación EY, also counts on the Woman Explorer Award, which awards with 20,000 euros the best initiative directed by an entrepreneurial woman.
Agrimetrics Global, lead by Silvia Tomillo of the University of Valladolid, was granted the last award. A project of an intelligent automated irrigation that optimizes production, diminishes water consumption and increases profitability.
Yiran Chen, another example of a successful entrepreneur
Yiran Chen, from China, learned about the program Santander X when she studied engineering in the University of Cantabria.
She is one of the successful winners who will take advantage of the opportunities offered by Banco Santander. In fact, she already launched her project NaviSmart for digitalizing marinas.
It is a technological platform to optimize the maritime traffic and the port operations. Also, the user has the opportunity of accessing information in real time about availability of clamping and departure and arrival timetables of boats.
All of these examples show an undeniable reality: entrepreneurship only can exist with talent, good ideas, important planning, enough financing and specific advice on a path that is not only complicated, but also exciting.