Are you looking to open a business in Barcelona? Do you have all of the information you need? Barcelona supports new entrepreneurs but it may be complicated for foreigners to know exactly all that is necessary when starting a business in the Catalan capital. To help you understand some of your financial options, we wrote an article about how to get a credit for your business in Barcelona.
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Defining your project
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As Albert Einstein said: ‘If you can’t explain it simply, you don’t understand it well enough’. So, defining your project is the most important thing. A simple idea is always more efficient than a complicated idea and you will convince more investors if you explain it clearly, in simple words. Make your pitch clear and concise and show that you are secure in your plans. Whatever your business, you should know what the market is like, who are your competitors and what do you offer in your project that others don’t, before launching your business.
Related article: Challenges to Barcelona’s Startup Scene
ICO for innovative projects
The Spanish banking institutions are a little hesitant when they have to approve a loan for an individual or a firm. But, if your project is well planned, you should be able to benefit from a financing program. For instance, the Instituto de Crédito Oficial (ICO) is a public bank connected to the Spanish Ministry of Economy, Industry and Competitiveness. It may be an interesting alternative source of finance for your business. It offers specific credits for business people. Its main goal is to promote any economic activities that increase national growth, wealth, and development. They prioritize creative and innovative projects that bring changes in cultural, social or environmental matters. To do so, ICO provides loans to fund projects from self-employed, small and medium-sized companies, and state or private institutions. Their office is located in Madrid but you can reach them by phone from Barcelona, if needed.
Address: Paseo del Prado, 4, Madrid
Barcelona Activa for local economy
Barcelona Activa is a state organization created to promote the economic growth of Barcelona. It offers several programs and workshops in order to support people in business creation. Its main objective is to encourage development, which means that Barcelona Activa offers many useful services that can help you in your entrepreneurial projects.
Address: Carrer de la Llacuna, 162 -164
Related article: Which Barcelona startup support is right for you?
La Peña for exclusive projects
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La Peña is a French and Spanish business club. Its goal is to support any kind of business project in Spain. Their office is located in Barcelona so you can easily schedule a meeting with them to explain your project and receive some useful feedback and learn more about the different ways of financing. This business club regularly organizes conferences and after work events that can be very useful to increase your social network and business contacts.
Address: Passeig de Gràcia, 61
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