Entrepreneurship in Barcelona: Your Guide to Starting Up

2023-06-05 | By Carlos Mendoza

Entrepreneurship in Barcelona: Your Guide to Starting Up

Barcelona has rapidly emerged as one of Europe's most dynamic startup hubs. With its combination of talent, funding opportunities, quality of life, and supportive ecosystem, the Catalan capital is an attractive destination for entrepreneurs from around the world. If you're considering starting a business in Barcelona, here's what you need to know:

Why Barcelona?

1. Thriving Startup Ecosystem: Barcelona is home to successful startups like Glovo, Travelperk, and Wallbox, proving the city's potential for nurturing unicorns.

2. Access to Talent: With top universities and a high quality of life that attracts international talent, Barcelona offers a rich pool of skilled professionals.

3. Supportive Infrastructure: The city boasts numerous incubators, accelerators, and coworking spaces designed to support startups.

4. Funding Opportunities: A growing network of local and international investors are actively looking for promising Barcelona-based startups.

5. Strategic Location: Barcelona's position in Europe, combined with excellent transport links, makes it ideal for businesses with international ambitions.

Steps to Start Your Business in Barcelona

1. Develop Your Idea

Before diving into the logistics, ensure your business idea is solid:

• Conduct market research
• Define your unique value proposition
• Create a basic business plan

2. Choose Your Business Structure

Common options include:

• Autónomo (Self-employed)
• Sociedad Limitada (SL) - Limited Liability Company
• Sociedad Anónima (SA) - Public Limited Company

Each has different requirements and implications, so consult with a local lawyer or business advisor to choose the best fit.

3. Register Your Business

• Obtain a NIE (Foreigner Identification Number) if you're not a Spanish citizen
• Register with the Spanish Tax Agency
• Register with the Spanish Social Security system
• Register your company name with the Commercial Registry

4. Secure Funding

Explore various funding options:

• Barcelona Activa (the city's economic development agency) offers grants and support for new businesses
• Venture capital firms like Nauta Capital, Caixa Capital Risc, and Sabadell Venture Capital
• Angel investors through networks like BANC (Business Angels Network Catalunya)
• Crowdfunding platforms like Crowdcube

5. Find Your Workspace

Options include:

• Coworking spaces (see our previous post on top coworking spaces in Barcelona)
• Incubators like Barcelona Activa's incubation spaces
• Traditional office spaces

6. Build Your Network

Networking is crucial. Engage with the local startup community through:

• Events like 4YFN (part of Mobile World Congress)
• Meetups and workshops organized by startup communities
• Industry-specific conferences and trade shows

7. Understand Local Business Culture

• Business in Spain often involves building personal relationships
• Be prepared for later working hours compared to some other countries
• Learn basic Catalan and Spanish to better integrate with the local business community

Key Resources for Entrepreneurs in Barcelona

1. Barcelona Activa: The city's official economic development agency offers a wide range of services for entrepreneurs.

2. ACCIÓ: The Catalan government's agency for business competitiveness provides support for startups and scaleups.

3. Barcelona Tech City: A private non-profit representing Barcelona's digital and tech ecosystem.

4. Barcinno: An English-language media platform covering Barcelona's startup ecosystem.

5. Barcelona Startup Map: An interactive map of the city's startup ecosystem.

Challenges to Be Aware Of

• Bureaucracy can be complex and time-consuming. Consider hiring a gestor (administrative agent) to help navigate paperwork.
• While improving, the level of English proficiency can vary, especially in government offices.
• The cost of living, while lower than some major tech hubs, is rising, particularly for housing.

Conclusion

Barcelona offers a unique blend of opportunities for entrepreneurs. Its vibrant culture, supportive ecosystem, and growing reputation as a tech hub make it an exciting place to start a business. While there are challenges, the rewards of building a startup in this dynamic city can be significant. With careful planning, networking, and leveraging of local resources, you can turn your entrepreneurial dreams into reality in Barcelona.

Remember, every entrepreneurial journey is unique. Stay flexible, be prepared to adapt your plans, and don't hesitate to seek advice from those who have already navigated the Barcelona startup scene. ¡Buena suerte! (Good luck!)