The Ministerio de Empleo is preparing a new strategy to combat youth unemployment involving a six-month period in which they can set up as autonomo with a social security contribution of just €50 a month compared to the more than €250 a month currently required. “Youth” is deemed to be those under 30 years of age. Once this six months has passed, contributions will be discounted by around 30% for the following two years.
Employment minister Fátima Báñez said that the Government will roll out the red carpet for the enterprising. She confirmed that the new measures are well on the way to being finalized and that they should be submitted to the Consejo de Ministros very soon. Many will feel that in this economic climate the measures should be open to anyone at all who is thinking of starting up as self-employed, and that six months at €50 followed by two years of 30% discounted contributions is the absolute minimum anyone, let alone those under 30, might hope for. With any luck, if the measure is seen to be effective, it will be extended to others. Spain’s economy needs all the help it can get right now!