5 conclusions of the Beyond Borders program on the opportunities the Spanish economy offers entrepreneurs aiming for international expansion
Recently, a group of Romanian entrepreneurs took part in the first market immersion held in Madrid as part of the Beyond Borders program, launched by Endeavor Romania and Romanian Business Leaders, to which was also joined Banca Transylvania. The program supports Romanian companies aiming to expand internationally by providing access to entrepreneurial ecosystems, investors, experts, and business leaders.
Spain, one of the most dynamic economies in the European Union:
- Spain is experiencing one of the most favourable economic moments in recent years. Economic growth, substantial investments, rapid modernization of the economy, and the acceleration of the transition to a green economy position the country as one of the main investment destinations in Europe. Accelerators, investment funds, innovation hubs, private investors, innovation centers, and corporations create an environment that supports company development, from the early growth stages to international expansion.
- There are numerous support mechanisms for investors and companies. From research and innovation grants to tax incentives, regional aid schemes, and programs dedicated to start-ups, companies investing in Spain can benefit from international funding and support.
- Success in business can depend on choosing the right region. The Spanish market includes regional ecosystems, each with its own competitive advantages and economic specializations. Madrid, Catalonia, the Basque Country, Valencia, and Andalusia stand out through the profile of their dominant industries, investment dynamics, and development opportunities. For this reason, an effective market entry strategy must be built at the regional level, taking into account the specifics of the targeted area, not just the characteristics of the Spanish market as a whole.
- It is the country competing to attract international talent through quality of life, the entrepreneurial environment, infrastructure, access to education, and measures dedicated to start-ups and international professionals.
- Personal relationships, socializing, and trust play an essential role in the Spanish business environment. Successful partnerships are built over time, and many business opportunities arise as a result of relationships developed through consistent interactions and referrals.
Romanian Community in Spain
According to Banca Transilvania's analysis regarding Economic relations between Romania and Spain, the presence of Romanian companies in the Spanish market has strengthened over the past three decades. The most important projects have been carried out in sectors such as telecommunications, road transport, trade, and construction. This development has also been supported by the Romanian community in Spain, which has stimulated demand for Romanian products and services, but has also contributed to the development of an economic bridge between the two countries, facilitating partnerships, business contracts, and expansion opportunities for Romanian entrepreneurs.
Approximately 610,000 Romanians live in Spain, according to Eurostat data, with a profile that has diversified and matured. Years ago, this mainly meant labor force, but now more and more Romanians have taken the step into entrepreneurship, becoming business owners and employers themselves.
