According to the GEM Report 20-21, for 30% of entrepreneurs and freelancers looking to start a business, it has not become profitable, while 10% acknowledge having had problems obtaining financing. This represents a major obstacle for the development of projects; therefore, we decided to compile the best grants and subsidies for freelancers and entrepreneurs that are available in Spain, find them here!
Why aids and subsidies for the self-employed and entrepreneurs?
Within the Spanish business fabric, SMEs and the self-employed stand out for their qualitative and quantitative importance. Studies have shown that it is precisely this type of companies and entrepreneurs that constitute one of the great engines of the Spanish economy, due to their capacity to generate employment and their potential to create value.
These important economic agents have to carry out their activities in a regulatory, financial and fiscal working environment that makes it difficult for them to develop their capacity to adapt to change.
For this reason, it is essential that public administrations promote and facilitate entrepreneurship, especially in the current economic situation.
It is necessary for SMEs to establish themselves in an environment that promotes an entrepreneurial culture, as well as the creation and development of business projects that generate employment opportunities and added value.
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Aid for setting up companies in Spain
We have grouped the collected help by categories, so it will be easier for you to understand them and find the one that best fits your profile:
Aids and subsidies for the unemployed who wish to become self-employed
We begin with this category, since there are indeed many people who consider entrepreneurship as a way to employ themselves.
There is a national self-employment aid program that basically contemplates 4 types of aid, which are subject to the modifications that each Autonomous Community considers appropriate.
- Subsidy for establishment as a self-employed or self-employed worker.
The maximum amount, which is usually 10,000 euros, is generally determined by each Autonomous Community for those who belong to the groups in the following list:
- Unemployed in general.
- Unemployed women.
- Young, up to 30 years old, unemployed.
- Unemployed people with disabilities.
- Unemployed women with disabilities.
- Financial subsidy
The amount is equivalent to the reduction of up to 4 points of the interest fixed in the loan, with a maximum limit of 10,000 euros. This being so, such loan must be destined to investments in fixed assets -at least 75%.
The other 25% can now be used to finance current assets. In any case, the entrepreneur must make an investment in fixed assets for an amount exceeding 5,000 euros.
- Technical assistance grant
The amount of this grant will be 75% of the cost of the services provided. The ceiling is 2,000 euros.
- Training grant
The amount of this aid will be 75% of the cost of the courses received, up to a maximum of 3,000 euros.
Single unemployment payment
Among the subsidies for entrepreneurs is also the Single Unemployment Payment, which is also known as Unemployment Capitalization. This was approved to contribute to the start-up of entrepreneurial projects.
The main purpose of this aid is to generate self-employment, provided that the requirements for obtaining it are met:
- The beneficiary is entitled to receive at least 3 months of unemployment benefits.
- You cannot have benefited from this assistance in the previous four years.
- When applying for the benefit, the activity for which payment is requested must not have already begun. Such activity must be started within a maximum period of one month from the receipt of the benefit.
- The activity in question must be aimed at self-employment.
Grants for women entrepreneurs
The Women’s Institute, in partnership with the Ministry of Social Services and Equality, has established several programs to support women.
Women represent only 34.5% of the total number of self-employed. Women-led businesses, on the other hand, tend to be smaller in size, making it more difficult for them to access credit. Ironically, however, they are more resilient businesses.
These are the aids for the creation of companies in favor of women entrepreneurs:
Rural Women’s Challenge Program
This program is within the framework of the Plan for the Promotion of Rural Women 2015-2018. It aims to support female entrepreneurship in the rural world, promote self-employment and business creation.
The Desafío Mujer Rural program includes mentoring, training and coaching to support rural women and provide them with all the necessary knowledge.
It also includes the launch of the Rural Women’s Entrepreneurship Portal as one of the main points where women can promote and market their own products. They can also access useful information on contests, grants and more training ranging from online marketing, farming or production of agro-products.
Innovatia 8.3 Program
This program, promoted by the University of Santiago de Compostela and the Women’s Institute, includes an online training platform and a sponsorship program better known as AMADRINANET.
Innovatia 8.3 is committed to fostering entrepreneurship among women in the technological and scientific sector. Thus, all participants have access to training platforms that support their objectives.
At the same time, the sponsorship program consists of women with recognized professional careers in different business areas supporting the new entrepreneurs.
Women’s Entrepreneurial Support Program (PAEM)
Promoted by the Instituto de la Mujer (Women’s Institute), this program is aimed at businesswomen and entrepreneurs with the intention of carrying out their business idea or modernization and expansion plan.
This program offers spaces for participation where women can share their experiences and consolidate the support they need. They also have access to a network of experienced business mentors who offer support to novices.
It also includes an unsecured microcredit program with financing of up to 25,000 euros and with advantageous conditions through MICROBANK.
Grants and subsidies for young entrepreneurs
Among the aids and subsidies for self-employed and entrepreneurs we can find these aids for young people. It is not uncommon that every year more and more young people graduate with poor job prospects, as well as it happens that youth unemployment continues to grow.
Moreover, this is a group that, for obvious reasons, finds it difficult to obtain financing.
In this sense, in order to apply for this aid, the beneficiary cannot be more than 40 years old, and the aid must be oriented only to the acquisition of the necessary assets to efficiently develop the activity.
Enisa assistance for young entrepreneurs
Enisa has a line of aid directly aimed at supporting new SMEs created by young entrepreneurs.
In order to receive the aid, the SME must be constituted as established by the European Union and must have been created no more than two years before the application is made.
This aid is focused on financing the acquisition of fixed and current assets necessary for the development of the business activity. The minimum amount is 25,000 euros and the maximum amount is 75,000 euros.
This amount will take into account the level of the applicant’s equity and the financial level of the company, as well as other elements considered relevant.
ICO loans for entrepreneurs
The Official Credit Institute (ICO) offers lines of financing which include the intermediation of credit institutions. One of the objectives of these loans is to finance the projects of self-employed and entrepreneurs who want to start their own business or internationalize it.
On the ICO website you can see all the options and requirements to apply for each loan. For example, the ICO line to provide grants and subsidies for self-employed and entrepreneurs has a maximum amount of 12.5 million euros and seeks to finance business activities, liquidity needs or expenses and digitization projects.
Grants and subsidies for the creation of innovative companies
Almost all the Autonomous Communities have a department that deals with the management of grants and subsidies for self-employed and entrepreneurs who want to carry out the creation of their company.
In general, this type of aid and subsidies finance between 15% and 60% of the total investment required. Only in exceptional cases do they cover 100%.
Its purpose is to improve competitiveness through R&D&I processes or by means of interest rate subsidies for bank financing and access to guarantees.
Innovation grants for Technology-Based Companies (EBT)
Technology-Based Companies (TBCs) are all those whose activity is based on the exploitation of products or services that involve the use of specific scientific-technical knowledge or technologies. This type of project receives some support in relation to other sectors, for example:
- Tax reduction: the Ministry of Economy and Competitiveness has articulated an aid consisting of a tax reduction of between 35% and 60%.
- NeoTec Program: this program is intended to finance EBT projects less than 6 years old from the time the aid is requested. Moreover, research and development expenses represent a minimum of 15% of the total costs during at least 1 of the 3 years prior to the grant date.
- Innvierte Program: this program seeks to promote business innovation by supporting venture capital investment in Spanish companies.
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Search engines for grants and subsidies for the self-employed and entrepreneurs.
There is a multitude of search engines where you can find grants and subsidies for entrepreneurs, as well as programs to help you with your entrepreneurship.
First of all, we can mention the Ipyme portal, which depends on the Ministry of Economy. In this portal you can find a search engine of aids and incentives for the creation of companies within the autonomous communities.
Secondly, the Chamber of Commerce also has a search engine for grants and subsidies designed for the business sector, both at the national level and at the level of the autonomous communities.
Fandit, on the other hand, also offers a subsidy search engine with which you can filter by keyword, autonomous community or recipient.
Finally, another popular search engine that you can use is Plataforma Pyme, here you can find grants by specific terms and also see if they are in open term.
Also of interest: The evolution of the female labor market in Spain
In order to obtain grants and subsidies for the self-employed and entrepreneurs, it is necessary that you keep yourself informed, as well as updated, regarding the calls for applications in order to submit your applications within the corresponding deadline.
In TAS Consulting our consultants are fully committed to advise you the best for your company, so you can achieve success. Request your free advice through our email email@example.com and we will be happy to assist you.
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