Yesterday the University of León presented the results of the new GEM report from Castilla y León which measures initiative and entrepreneurial activity throughout 2023 and amounts to 5.3%, a tenth more than the previous year. A rate slightly lower than the national average (6.8%) and which places the Community in an intermediate position in the national ranking, led by the Balearic Islands (8.8%) and the Community of Madrid (7.8%) . However, as Daniel Alonso, head of the study and director of the Employability Area of the ULE, points out, when analyzing consolidated companies, Castilla y León reaches 6.4%, almost on par with the entire country , and with an abandonment activity of 2.8% compared to 3.2% in Spain. “Although initiation rates are lower, they subsequently demonstrate greater effectiveness and have greater chances of success,” he emphasized.
The one who is “only study on entrepreneurship” carried out independently highlights in terms of capital needed to start a business that 64% of new businesses required less than 30,000 euros, “which facilitates access to financing and the start of projects”, as shown by personal savings (50.6 %) which is the main source of financing, followed by family support (14.8%) and support from other institutions. Alonso also wanted to emphasize that 12% of the business projects launched required seed capital above 100,000 euros, which demonstrates the growth of large companies. In this regard, we highlighted the appearance of “Business Angels”, that is to say private capital investors, who in 2022 did not constitute a source of financing for entrepreneurs in 2023. Men continue to have a higher rate of entrepreneurship with 6.1% compared to 4.4% of women.
Compared to Spanish figures, the participation of women in all phases of entrepreneurship is lower in the case of Castile and León. Likewise, regarding potential entrepreneurship, that is, the population that intends to do so in the coming years, Castilla y León shows a rate of 8.2%, surpassing regions such as the Basque Country (6.5%) and Navarre (6%). being the main reason for undertaking to earn a living in the face of lack of work, followed by the desire to generate wealth and perpetuate family tradition
By age group, young people between 18 and 24 years old have an entrepreneurial intention and a level of entrepreneurship higher than the national average, with 11% compared to 5%, which shows a possible improvement in entrepreneurship in the future.
Concerning the level of education, we observe a growth in the number of people with university studies, so that more than 70% of new entrepreneurs demonstrate average or high skills and knowledge, thus consolidating entrepreneurial vocations within a more highly qualified population.
Most entrepreneurs They operate through micro-enterprises, and with employment stability that exceeds the national average and the projection that 54.1% of entrepreneurs will be able to create a job over the next five years.
During the presentation of the report, the innovative nature of community businesses was underlined. Concretely, 36% of recent entrepreneurs have integrated innovations into products or processes, reaching 100% among 18-24 year olds, in both cases above the national average. Similarly, around 73% of recent entrepreneurs have entered the era of digitalization, and one in ten are already actively using artificial intelligence tools. Likewise, nearly one in four new businesses sell to international customers, a percentage that rises to 33.6% when these initiatives are consolidated.
