Spain: business opportunities in economy

Parent Category: ROOT Published: Saturday, 05 September 2020 Print
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Business Opportunities in Spain Economy

Being the second-largest country in Western Europe, The Spanish Republic continues to control the Iberian Peninsula. It shares its border with France and Andorra on the northeast, Portugal on the west, and the Bay of Biscay to the north.

This terrain alone makes Spain a precious gemstone to foreign investors. 

Its highly developed economy, stable socio-political situation, and favorable policies are endeavors put in place to ensure that all investments made in the nation are successful. Are you planning on starting a business in Spain? Or relocating to Spain in search of greener pastures? In this article, I’m going to be showing you the best business opportunities in Spain for both small startups and employees.

 

Is Spain a good place to start a business?

top view photography of city during daytime

Honestly, the answer is a capital “YES”. A lot of people including expats have started their businesses in the Kingdom of Spain; it is one of the best places to start a business in Europe. But starting a successful business here is not that easy. You can, however, take advantage of the economic situation in the country and make profits [as long as your service meets an unfulfilled demand in the Spanish market, you’ll make money]. 

Starting a business here allows you to take advantage of the abundant local resources in a new way. You can create a tech startup that meets the need of a small group in your region, or a service that appeals to the consumer in big cities or tourist areas

Another reason why Spain is an excellent place to start and run a business is that there are few active industries which mean little competition for small startups. If you have a good idea and a business plan, starting a business in Espana is one of the easiest ways to succeed in Europe. 

As an EEA member state, Spanish based businesses benefit from the free transit and logistics of both goods and services within the European Union without any unnecessary formalities, including exchange rate fluctuations or transaction costs.

Working in this country also comes with a lot of advantages especially for new businesses such as good geographic location, favorable climate, stable government, productive economy, low labor, and transport costs. 

This also extends to international organizations. International organizations interested in starting a business or launching a franchise in Spain get a Commune aid’s Spanish language, advance support, free insights in Spanish culture and environment.

 

Best Business opportunities

Having the 14th largest economy in the world, the 8th largest in the OECD and the 5th largest in Europe, Spain is a great place to start or extend your business especially if you are in the service industry. If you don’t know where to start, these are quick and easy businesses available to expats.

 

 

Interpretion

 

No matter which country you come from, there is always a need for an interpreter.  Spain is a major tourist destination. Millions of traveller’s troop all through the country consistently. If you can fluently speak Spanish and any other language, you can easily land a job in any international airport, bank, or media house in Spain as an interpreter or mediator.

 

 

Property management

 

If you’re looking for another amazing business opportunity in Spain, don’t bother wearing a white shirt and tie because real estate might just be your call.  You can profit from dealing with dormant land, individuals’ domain, building, plants, farms, or estate. Whether you own them or acting as an agent on behalf of the landlord, real estate is a real job for real people planning on moving to Spain for business. Property management and flipping are some of the best businesses in Spain.

 

 

Eatery and bar

 

Are you more service-oriented? Then you can consider setting up a bar or eatery where tourists like you can hang out and have a good time. It is easy to set up, manage, and run. Opening a restaurant in the heart of Spain, Barcelona, Madrid, or Granada is one of the most lucrative startups in Espana. Believe me, Spanish nationals love foreign delicacies.

 

 

Vehicle industry

 

There’s always a car zooming off to and fro across the country. Starting a business in this sector is a great idea, there are also of micro niches you can focus on like car GPS services, auto-sharing services, auto batteries, car spare parts, and repairs.

 

 

Web content & design

 

Building content websites is one of the cheapest business ideas any expat can start in Spain, and even work from home! Once you’ve chosen a niche and market, you can start your own web design business in Espana.

 

Problems you may face

The biggest problem associated with starting a business in the Spanish republic is bureaucracy.  This is one of the most difficult water most businesses struggle to navigate. Spain has a lot of red tapes that can cause a lot of trouble for entrepreneurs and SMEs, especially during incorporation and rebranding. 



A pile of passports with visa stamps.

Businessman standing in the airport, waiting for hif flight.

Backpacker looking at a sunrise from the mountain.

Sunny beach on a tropical island.