Favoring entrepreneurship is the main objective of this law by eliminating bureaucratic hurdles and reducing administrative problems faced by a person who had decided to embark on a self-employment project. In Spain, these obstacles to starting a business cost 2,580 euros.
The new law, which comes into force this October 19, stands out for its relevance, at a time when the latest figures for August reflect that company creation in Catalonia has fallen by 11.8% compared to the same month of the previous year, according to data from the National Institute of Statistics (INE).
Until now, the process of creating a company in Spain took an average of 12.5 days and 2,580 euros.
A sign of entrepreneurial discouragement and against which the approval of this regulation can stand as the ideal opportunity to start a business venture; even more so, considering that there are regions that do not lose their entrepreneurial essence. Catalonia is positioned as the second Spanish destination for creating a company, according to the same INE data, which indicate that 1,185 companies were generated in August.
And it is that, small and medium-sized businesses are the true engine of our country's economy.According to the latest data from Cifras Pyme, this sector represents 99.8% of the Spanish business fabric and generates 66.4% of employment in our country.In addition, along with the elimination of administrative hurdles, the law will alleviate the economic pressure to which entrepreneurs are subjected in the initial phase of creating their businesses: the constitution of a company may be carried out starting from a single euro, far from the legal minimum of 3,000 euros of share capital required for the constitution of a limited liability company until now. In this way, entrepreneurs will be able to diversify their savings and invest in other alternative matters.Digital solutions to make life easier for entrepreneurs The "Crea y Crece" Law represents a step forward towards business regulations that are up to date with current times, thanks to digitalization and the action of digital solutions in these processes. "While, until now, creating a company in Spain involved a great mental and economic effort, exemplified by numerous visits to the notary, procedures with the Administration, or facing a high initial outlay, digital solutions allow for streamlining and facilitating the process for those who aim to generate value: entrepreneurs", declares Carles Marcos, Country Manager of Qonto in Spain.Qonto, in this way, will become the first and only neobank in Spain that will allow its clients to create a company in four days with a single visit to the notary, thus bringing speed to the process and limiting travel. Among the future plans of the leading financial solutions company in Europe is to further reduce this time and promote the possibility of carrying out all procedures 100% online, awaiting the conclusion of new business regulations that create an even more attractive regulatory framework for entrepreneurs in our country.In this way, the process of creating a company can not only be carried out in a minimum amount of time, reduced to minutes, but it can also be done from anywhere in the world, limiting in-person appointments and eliminating the sequentiality of administrative processes. The neobank works with the objective of alleviating, providing solutions, and boosting entrepreneurship in Spain.