Spain ranks 11th in the impact of Shopify entrepreneurs on the national economyamong 40 countries analyzed through the activity of local businesses, according to the beta version of the ‘Shopify Entrepreneurship Index’ presented by Shopify. According to this same study, Spanish Shopify businesses have favored 18,923 jobsgenerated a business activity of 3,200 million euros, 1,500 million contributed to the GDP and an export of goods worth 429.8 million in the year 2022. All of this occurred with a large contribution (69%) from entrepreneurs located outside of large cities and metropolitan areas.
A clear example of the evolution that the Spanish market is going through and the contribution of Shopify entrepreneurs is the case of Hannunthe wooden furniture company manufactured in local workshops by artisans. The company, which is listed on the BME Growthexpects to close -according to its unaudited preview of results- the year 2022 improving its year-on-year EBITDA ratio by almost 50 points as a percentage of net sales during the last quarter of the year, which represents a strong improvement in its profitability.
Hannun’s growth over the past year has been driven by international sales, which have increased by 214% and now represent 44% of the total. Hannun’s team is made up of young, enthusiastic people who are convinced that the planet can be changed. A team that grew from 15 members in 2019 to 51 today.
“The conclusions of our Shopify Entrepreneurship Index in this first version speak for themselves: despite the particularly difficult period that companies are going through, and which has been going on for a long time, our entrepreneurs continue to be resilient and capable of innovatinggenerating value for the Spanish economy and contributing to the creation of thousands of jobs”, express Gonzalo Torres, country lead of Shopify Spain. «These difficult times make it necessary for those responsible to continue supporting Spanish entrepreneurship. In this sense, we hope that the data that emerges from our survey can be translated into elements of reflection that become concrete actions.
For his part, César Tello, Director General of digital adds that «The ecosystem of entrepreneurs in Spain has multiplied by five since 2015: there are more than 450 scaleups and 14 unicorns in our country, with a multiplying effect that generates more than 540,000 jobs and new startups. Spain may be in the group of countries that leads the new technological model in Europe, leaving a humanist imprint that puts technology at the service of social welfare. And the time is now. The digital economy accounted for 22.6% of GDP in 2022 and, with a joint effort, it could reach 40% in 2030. Spain, due to its role in the world and as one of the leading economies of the European Union, is advancing in the right direction to take advantage of its impact and become a digital hub».
He Shopify Entrepreneurship Indexwhich provides data and a ranking with 40 countries around the world, is a new study carried out in collaboration with Deloitte using data from the millions of entrepreneurs in the Shopify ecosystem that is complemented with data from the IMF, the OECD and the World Bank for the development of economic models.
To create the classification, the impact on GDP, business activity, favored jobs and generated exports are compared. by those entrepreneurs with the national values of each country or state. The Index will be published quarterly, which makes it one of the most timely and up-to-date ways of knowing the state of the entrepreneurial spirit throughout the world, in which Spain stands out, which adds great expectations for the next Presidency of the Council of the EU, who places SMEs and entrepreneurs at the forefront of the legislative files that are being studied.
Worldwide
The first place in the Index is occupied by the United States, followed by Lithuania (which has invested heavily in financial education, entrepreneurship and new technologies), Romania (which saw a huge increase in e-commerce after its digital transformation), the United Kingdom and the Czech Republic. . However, it is important to highlight that the Index reflects a global reality in which it is observed that, despite the current uncertain economic situation, the entrepreneurial spirit is booming throughout the world.
Some facts to highlight:
- Regionally, Europe dominates the ranking, with 10 of the top 20 countries
- With three Eastern European countries in the top 10, it is clear that the European entrepreneurial landscape is shifting from West to East
- Taken together, entrepreneurs in the 40 countries had a positive impact on GDP of $229.3 billion in the last 12 months
- China ranks eighth, with a relative drop of 19% in exports
- Outside the US, Vietnam is the country that has benefited the most jobs directly (91,000) and 471,474 in total
- California continues to be the powerhouse of entrepreneurship in the United States. Shopify ecosystem entrepreneurs there supported 134,000 jobs and were responsible for $2.5 billion in exports