5 takeaways from the Beyond Borders program on the opportunities Spain’s economy offers entrepreneurs pursuing international expansion

In recent days, a group of Romanian entrepreneurs took part in Madrid in the first market immersion organized under the Beyond Borders program, launched by Endeavor Romania and Romanian Business Leaders, which Banca Transilvania has joined. The program supports Romanian companies aiming to expand internationally by providing access to entrepreneurial ecosystems, investors, experts and business leaders.

Spain, one of the most dynamic economies in the European Union:

• Spain is in one of its most favorable economic periods in recent years. Economic growth, substantial investment, the rapid modernization of the economy and the accelerated transition to a green economy position the country as one of Europe’s leading investment destinations. Accelerators, investment funds, innovation hubs, private investors, innovation centers and corporations create an environment that supports companies’ development from the earliest growth stages through to international expansion.
  
  
• There are numerous support mechanisms for investors and companies. From research and innovation grants to tax incentives, regional aid schemes and programs dedicated to start-ups, companies investing in Spain can benefit from financing and international support.
  
  
• Business success can hinge on choosing the right region. The Spanish market consists of regional ecosystems, each with its own competitive advantages and economic specializations. Madrid, Catalonia, the Basque Country, Valencia and Andalusia differ by the profile of their dominant industries, investment dynamics and development opportunities. For this reason, an effective market-entry strategy should be built at the regional level, tailored to the specifics of the target area, not just the Spanish market as a whole.
  
  
• It is a country competing to attract international talent through quality of life, an entrepreneurial environment, infrastructure, access to education and measures dedicated to start-ups and international professionals.
  
  
• Personal relationships, social interaction and trust play a crucial role in Spain’s business environment. Successful partnerships are built over time, and many business opportunities arise from relationships forged through ongoing interactions and referrals.

The Romanian community in Spain

According to Banca Transilvania’s analysis of the economic ties between Romania and Spain, the presence of Romanian companies in the Spanish market has strengthened over the past three decades. The most significant projects have been in sectors such as telecommunications, road transport, trade and construction. This evolution has also been supported by the Romanian community in Spain, which has stimulated demand for Romanian products and services and helped build an economic bridge between the two countries, facilitating partnerships, business contracts and expansion opportunities for Romanian entrepreneurs.

About 610,000 Romanians live in Spain, according to Eurostat, and their profile has diversified and matured. Years ago, this meant primarily a labor force; today, more and more Romanians have moved into entrepreneurship, becoming business owners and employers in their own right.