Two years after being laid off from her job as a health and safety consultant, Ana Luis has found a new, quite different occupation.
The blue-eyed, blonde-haired 46-year-old stands busy in the window of her very own dress shop in Valladolid, northeastern Spain, deftly fixing clothes on a dummy.
For Ana, it was a childhood dream come true — one born of the nightmare of redundancy. Left jobless like millions of others in Spain’s recession, she did what many are also doing, for want of an alternative: she launched her own business.
“I had a choice: stay sitting at home and do nothing, or throw myself into a project that I like,” she said.
She opened the store less than four months ago using part of her redundancy pay and savings — a total investment of 30,000 euros (US$40,000).
She is one of a wave of Spaniards trying to create jobs for themselves in the recession that has driven the unemployment rate above 26 percent.
The crisis sparked by the collapse of Spain’s building boom had wiped out a lot of self-employed entrepreneurs: 625,000 between 2008 and 2011, said Lorenzo Amor, president of the small entrepreneurs’ association ATA.
Last year, however, as the unemployment rate climbed to record highs, their number grew for the first time in the five-year crisis, with 53,000 new registered self-employed, he said, citing government figures.
These entrepreneurs created 72,000 jobs, he added — just about the only sector to do generate any.
“For the next few months it is going to be easier to create your own job than to find one,” Amor said. “In Spain, every hour 67 people register as self-employed. Unfortunately, half of those don’t manage to keep their business running for more than three years.”
Despite everything, they are having a go.
In a trendy district of central Madrid, serving staff bustle at the coffee machine in “La Bicicleta,” a novel bicycle-friendly cafe where cyclists can park their bikes. Its tables are crammed with customers even though the cafe only opened days ago, under the management of Tamara Marques, 29, and Quique Arias, 35.
“I had other job plans. I wanted to be an air traffic controller, but the labor market is nothing like it was,” Tamara said. “The way the economy is, I prefer to invest in something I really like and which will bear fruit, rather than wait for the government to do something for me.”
She and Quique launched their plan in late 2011 and managed to open their cafe, with its rough industrial-style decor and deliberately shabby armchairs, more than a year later.
They raised the 100,000 euros they needed through a rare bank loan and help from their families — no thanks, they say, to Spanish bureaucracy.
“We’re not even talking about getting subsidies or making it easier to get a loan,” Quique said. “We’re talking about much simpler things, like just getting the paperwork done.”
Among its various emergency reforms, the conservative government said it is working on a law to cut the red tape for people launching their own businesses.
Ana, Tamara and Quique say they are covering their costs, but relying on their families to live.
Yet theirs are rare tales of hope in a crisis that aid groups say has thrown millions into poverty.
“I think there is a growing dynamism. We are seeing just the tip of the iceberg,” said Javier Sanz, director of an MBA program at Madrid’s Complutense University. “In the next five years people are going to realise more and more that to find the perfect job they are going to have to make one up. For that you need to be an entrepreneur.”
CHIP WAR: Tariffs on Taiwanese chips would prompt companies to move their factories, but not necessarily to the US, unleashing a ‘global cross-sector tariff war’ US President Donald Trump would “shoot himself in the foot” if he follows through on his recent pledge to impose higher tariffs on Taiwanese and other foreign semiconductors entering the US, analysts said. Trump’s plans to raise tariffs on chips manufactured in Taiwan to as high as 100 percent would backfire, macroeconomist Henry Wu (吳嘉隆) said. He would “shoot himself in the foot,” Wu said on Saturday, as such economic measures would lead Taiwanese chip suppliers to pass on additional costs to their US clients and consumers, and ultimately cause another wave of inflation. Trump has claimed that Taiwan took up to
A start-up in Mexico is trying to help get a handle on one coastal city’s plastic waste problem by converting it into gasoline, diesel and other fuels. With less than 10 percent of the world’s plastics being recycled, Petgas’ idea is that rather than letting discarded plastic become waste, it can become productive again as fuel. Petgas developed a machine in the port city of Boca del Rio that uses pyrolysis, a thermodynamic process that heats plastics in the absence of oxygen, breaking it down to produce gasoline, diesel, kerosene, paraffin and coke. Petgas chief technology officer Carlos Parraguirre Diaz said that in
Japan intends to closely monitor the impact on its currency of US President Donald Trump’s new tariffs and is worried about the international fallout from the trade imposts, Japanese Minister of Finance Katsunobu Kato said. “We need to carefully see how the exchange rate and other factors will be affected and what form US monetary policy will take in the future,” Kato said yesterday in an interview with Fuji Television. Japan is very concerned about how the tariffs might impact the global economy, he added. Kato spoke as nations and firms brace for potential repercussions after Trump unleashed the first salvo of
SUBSIDIES: The nominee for commerce secretary indicated the Trump administration wants to put its stamp on the plan, but not unravel it entirely US President Donald Trump’s pick to lead the agency in charge of a US$52 billion semiconductor subsidy program declined to give it unqualified support, raising questions about the disbursement of funds to companies like Intel Corp and Taiwan Semiconductor Manufacturing Co (台積電). “I can’t say that I can honor something I haven’t read,” Howard Lutnick, Trump’s nominee for commerce secretary, said of the binding CHIPS and Science Act awards in a confirmation hearing on Wednesday. “To the extent monies have been disbursed, I would commit to rigorously enforcing documents that have been signed by those companies to make sure we get