A recent report, Women in Spain’s Entrepreneurial Ecosystem 2024, published by Spain’s National Entrepreneurship Office (ONE), challenges old myths about female entrepreneurship.
Far from being driven solely by work-life balance or confined to STEAM (Science, Technology, Engineering, Arts, and Mathematics) fields, women entrepreneurs in Spain are beginning to reshape the startup scene with much more diverse motivations to start up a business and a broader selection of innovative ventures.
The report reveals a growing entrepreneurial spirit among women. According to the GEM Spain 2023-2024 Report, the percentage of women intending to start businesses rose from 8.8 per cent in 2022 to 10.9 per cent in 2023. However, the South Summit’s 2024 Entrepreneurship Map notes that women still represent only 20 per cent of startup founders, a figure that hasn’t changed for a decade. Despite this, women are launching ventures with motivations that extend beyond financial gain. While 53 per cent of women leading recent entrepreneurial initiatives have said “earning a living” was their main driver in 2023 (down from 71 per cent in 2022), other motivations have been gaining traction, including “making a difference” (38 per cent) and “creating wealth” (37 per cent).
Studies show women entrepreneurs driven by more than just work-life balance
A separate study, Women-Led Startups in Spain by the Women Startup Community and the University of Malaga, shows additional drivers:91 per cent of female founders cited market opportunities, 81 per cent sought workplace autonomy, and 45 per cent aimed for professional growth.
Most notably, and debunking the stereotype of balancing motherhood with work, work-life balance was not a primary inspiration. Social concerns, such as local investment, climate change, gender equality, and education, also play a significant role.
The typical female entrepreneur in Spain is aged 36 to 45, with 25 per cent aged 46 to 55 and 29 per cent aged 25–35. Most (85 per cent) have prior professional experience, and 52 per cent hold a master’s or postgraduate degree, with educational backgrounds covering engineering (34 per cent), social sciences (32 per cent), health sciences (20 per cent), STEM (8 per cent), and humanities (7 per cent). The diversity challenges the notion that female founders are limited to tech fields. Financially, 26 per cent had no regular income before launching their companies, while 15 per cent already earned over €64,000 annually.
Andalucia leads way with women entrepreneurs
Most women-led startups are concentrated in cities, with 72 per cent based in Andalusia (36 per cent), Madrid (22 per cent), and Catalonia (14 per cent). These businesses excel in innovation, with over 30% of recent ventures introducing new products or processes, nearly double the rate of established firms. Sectors range from e-commerce and biotechnology to sustainability, education, and fintech, with 23 per cent of startups defying traditional categorisations due to their disruptive nature. Women also show resilience, with higher digitalisation rates (12 per cent vs. 10 per cent for men) and adaptability during crises like the pandemic.
Despite a lot of progress, some barriers remain. Access to funding is one of the biggest hurdles, with women-led startups often less capitalised than those led by men. Limited networks, gender stereotypes, and a lack of female role models further complicate women entrepreneurs. Yet, with 51 per cent of female entrepreneurs balancing motherhood and 53 per cent operating as solo entrepreneurs, their determination and versatility are undeniable. As Spain’s entrepreneurial ecosystem evolves, women are proving they can lead and innovate across diverse fields, breaking stereotypes and driving meaningful change.
