73% of the Businesses Created in Asturias in 2006 Did Not Survive One Year

Source: article in El Comercio by S. B. June 21, 2007

73% of the companies which were created in Asturias during the past year did not survive. In the principality of Asturias there were 1,760 businesses started in 2006, an increase of 2.6% over the previous year. But this is less than the increase that was experienced nationwide in Spain which was 3.4% of every 100 companies started in a story as in 2003 only 27 survived the year. This high level of commercial mortality concerns the Association of Young Businessmen of The Principality (Asociación de Jóvenes Empresarios del Principado), who believe that Asturian government should set aside some resources to help strengthen these new organizations, the majority of which are started by young businessmen.

In addition to this proposal, the Association insists there is a need for more industrial land and help in setting up an industrial parks, classes in entrepreneurial skills local education centers, better professional education, a better orientation between the needs of the marketplace and labor skills available, and a reduction of bureaucracy. The organization counts over 200 young Asturian businessmen as members of its association most of which have founded their own companies and are self employed.