30 Dec 2021
Spain is an exciting and colourful place to live, particularly in the larger Spanish cities. Delicious food and gorgeous weather draw thousands of tourists and expats every year. But Spain is not just a place to relax - it’s also an excellent place to develop or invest in a business. Hundreds of startups every year choose Spain’s cities as a base for their new ideas and have no trouble attracting foreign investments to drive their inspirations. But starting a business in Spain as a foreigner has its disadvantages - knowing where to begin is your first problem!
There are plenty of business opportunities in Spain if you know where to look. With tips on investing in or buying a business in Spain and the best cities for startups, we are here to provide advice to those starting a business in Spain as a foreigner.
Looking at the statistics, Spain’s largest cities, Madrid and Barcelona, have been seen in the top 10 for a number of business categories during the past year. Up there with London and Berlin, Madrid and Barcelona have been seen performing well in data sets such as “best cities in Europe for startups and entrepreneurs” from fDi Intelligence and “Tech Cities of the Future” in the 2021 edition of the same Financial Times publication.
Madrid has climbed several places in these data reports, suggesting major improvements are taking place in the Spanish capital. According to the fDi data, Madrid was home to over 300 Spanish startups in 2021 as well as around 100 spaces for coworking and collaboration. This suggests it’s the ideal place to look to start a new business or, indeed, find some bright minds to invest in and support. Additionally, Madrid is also seen to be a well-performing place in terms of attracting foreign investments or encouraging investors and entrepreneurs.
Alongside Madrid, Catalonia is also an important hub for Spanish startups. New businesses based in Catalonia drove 35% of the total capital invested in Spain in 2013, many of these startups being technology firms. Other Spanish startup hubs include Andalucia, Valencia, and Euskadi, all having strong numbers of startup businesses. If you are looking for quieter cities in which to base your company, these places also attract high levels of investment.
While it is home to fewer startup companies, Barcelona is known to be the most active Spanish startup city. The spirit of creativity and innovation drives collaboration and new ideas means that foreign investment levels are extremely high here. Looking at the Mobile World Capital’s 2019 Startup Ecosystem Overview, 12 of the 29 Spanish startups in 2019 that reached investment rounds of over €10 million were based in Barcelona. Barcelona-based startups are being funded more and more, in line with the success of past startups.
With over 50 coworking offices and daily meetups taking place all over the city, join the business school students from all over the world in enjoying the startup culture in Barcelona. If you are looking to invest money or buy a business in Spain, Barcelona could be the place to look.
If you’re looking to move your business to take advantage of the exciting collaborative and innovative atmospheres in Spanish cities, you might need to enlist the help of some business removal experts. With Bishop’s Move, your move will run smoothly with the help of our 165 years of experience. Download our Business Removals Brochure for more information and contact us for a quote.