A recent report on Spanish Entrepreneurial Ecosystem 2024, published by the National Office of Entrepreneurship in Spain (1), challenges the old myths about female entrepreneurship.
Spanish female entrepreneurs are far from being driven solely by work-life balance or confined to steam (science, technology, engineering, arts, mathematics), and Spanish female entrepreneurs are beginning to reconstruct the startup scene with much more diverse motivations to launch a wide selection of business and innovative ventures.
This report reveals the growing entrepreneurial spirit among women. According to a report from GEM Spain 2023-2024, the percentage of women starting their business has increased from 8.8% in 2022 to 10.9% in 2023. However, the South Summit’s 2024 Entrepreneurship Map states that women still represent only 20% of startup founders. Nevertheless, women are launching ventures with motivations that go beyond their financial interests. While 53% of women leading recent entrepreneurial initiatives say “making a living” is the main driver in 2023 (down from 71% in 2022), other motivations have gained traction, including “make a difference” (38%) and “creating wealth” (37%).
Research shows female entrepreneurs driven by more than just work-life balance
Another study shows that women’s startup community and Spanish women-led startups by the University of Malaga show additional drivers. 91% of female founders cite market opportunities, 81% seek workplace autonomy, and 45% aim for professional growth.
Most notably, work-life balance was not the main inspiration, exposing the stereotype of balancing motherhood with work-to-work. Social concerns such as local investment, climate change, gender equality and education also play an important role.
Typical Spanish female entrepreneurs are 36-45 years old, with 25% being 46-55 years old and 29% being 25-35 years old. Most (85%) have previous professional experience, 52% have master’s or graduate degrees, and their educational background covers engineering (34%), social sciences (32%), health sciences (20%), STEM (8%), and humanities (7%). Diversity challenges the notion that female founders are confined to the technical field. Financially, 26% had no regular income before starting the company, but 15% have already earned more than 64,000 euros a year.
Andalusia leads the path with female entrepreneurs
Most women-led startups are concentrated in cities, with 72% based in Andalusia (36%), Madrid (22%) and Catalonia (14%). These businesses are innovating, with over 30% of recent ventures implementing new products and processes, almost twice the proportion of established companies. The sector ranges from e-commerce and biotech to sustainability, education and fintech, with 23% of startups opposing traditional classification due to their disruptive nature. Women also show resilience, have a higher rate of digitalization (12% vs. 10% for men), and are adaptable during crisis like the pandemic.
Despite many advances, some barriers remain. Access to funds is one of the biggest hurdles, and women-led startups are often less capitalized than men-led people. Limited networks, gender stereotypes, and lack of female role models further complicate female entrepreneurs. However, with 51% of female entrepreneurs balancing motherhood and 53% working as solo entrepreneurs, their resolve and versatility cannot be denied. As Spanish entrepreneurial ecosystems evolve, women are proving that they can lead and innovate across diverse disciplines, break stereotypes and promote meaningful change.
