The daily newspaper El Economista published the article “Entrepreneurs, the future of the Spanish business network” by Núria Vilanova, president and founder of ATREVIA. It discusses how internal and external entrepreneurship can be elements to drive competitiveness, self-leadership, retain talent and develop a culture in which there is high level of effort amongst employees.
More than 25 years ago, entrepreneurs were a source of business growth for the future. Now they are vital for the generation of wealth and employment in our country. The importance of new business initiatives has an unquestionable effect as a driver for growth in the Spanish economy. They are not only important because of their effects on taxation, the generation of high quality employment and on consumption recovery but instead because they allow the evolution towards an economic model based on innovation which attracts more foreign investment.
The degree of country development is linked to the entrepreneurial capacity of society and also to the actions that are performed by social actors who make necessary resources available to citizens. They are governmental, business and educational entities who should consider entrepreneurship as a strategic tool for the growth of a country. They contribute to society to generate an optimal environment for understanding and establishing initiative models. We should create the necessary conditions so that entrepreneurs are capable of converting their ideas into real and sustainable businesses. If companies do this today, this guarantees the potential of the Spanish economy for long-term growth in the future.
In this context we must continue working to overcome the traditional problems that entrepreneurs confront, particularly in terms of both public and private funding. Effective stimulus measures, legislation and funding in Spain generate a favorable ecosystem for entrepreneurship. In addition, there are more ways to promote this attitude which is driven by different institutions that arrive to Spain willing to give young people the tools and experience needed to meet challenges successfully. Entrepreneurship Summer School has begun to do this which has came to Madrid for the first time, after already having success in Brussels and Hong Kong.
A higher capacity of entrepreneurship in our country gives us the opportunity to retain our talent, drive self-leadership and develop a culture where there is a high level of effort amongst employees which has the ability to increase our competitiveness. According to various studies, in Spain there are almost 2,500 startups which is 26% more than in the previous year. In addition, 2018 forecasts that these types of companies in Europe, especially technological ones, will provide work to almost 5 million people and generate €63 billion in profits which is a great opportunity for the county.
There are more than just these opportunities that was previously stated for the economy and corporate world. Entrepreneurship not only is changing the way of understanding business projects but also new technologies have created the concept of a functional collaborative economy. This is a new mentality that should be adapted to traditional companies without taking into account their size. Management committees who believe that internal entrepreneurship with employees does not suit their company is the wrong approach to the new economic climate in which we live.
The young professional profiles spread new behaviors and attitudes in their integration with companies. Millennials can multitask, grew up with technology, passionate and have a work ethic that is totally different from previous generations. Companies that know how to adapt to this new reality can satisfy the needs of this generation and provide answers to their concerns so that these companies will become the best place to work and therefore will incorporate involved and committed teams.
There are now very innovative companies that have already arrived to society and have began to use horizontal and flexible business structures. They train their collaborators to develop soft skills, have participation platforms, multidisciplinary profiles and use a collaborative leadership model. In addition, powerful internal communications strategies are assumed based in real time that allow the conversion of employees own initiatives as a key tool in the generation of commitment and engagement.
The main challenges that companies face are being able to make the employee feel part of the company´s achievements, allow them to develop their own professional projects within the company, recognize and training their creativity and allow them to participate in the decision making process. The ability to train employees in methods of developing entrepreneurship assumes that every employee is a potential entrepreneur.