ŠAVŠ/TAČR Digital Czechia in a Digital Europe

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Spain

Spain is once again one of the most preferred countries in the EU offering the potential to set up startups. In this country, two locations are recommended for this activity, namely Barcelona and Madrid because of the available infrastructure. This country is a member of the Eurozone, has a stable economic environment and a quality education system. Due to the high unemployment rate, there are plenty of potential employees. There are a number of incubators and accelerators in the country, and the creation of co-working sites is supported. Equally important is the fact that Spain is one of the countries that are attractive for work and living. On the other hand, Spain is limited by a very high corporate income tax rate, which may to some extent reduce the country’s evidently high appeal. Government support for startups is at a high level. For those interested in establishing a startup, the Spanish government has created a document on the basis of which they will learn all the essential information necessary for setting up a startup in Spain and the possibilities of government incentives that are offered to these types of businesses. Sources of funding come from the European Union and the Spanish budget. In addition to grants, guaranteed loans, Spain also offers a number of tax breaks, provided that the business entity meets the relevant conditions. 16

16 Invest in Spain, Ministerio de industria, comercio y turismo, 12/2018, see http://www.investinspain.org/