Expatriates set up 60% of new businesses

SIX out of 10 people setting up a new business in Palma de Mallorca last year was a foreigner. Around 1,500 foreigners requested information from the Palma Municipal Institute of Employment Training and Development (IMFOF) for creating a company were immigrants, according to Jose Maria Aranda, from IMFOF.

Of these inquiries, 787 were formulated into business plans, although it is not known how many of these were actually carried out.

In 2009, the number of enquiries was 20 per cent higher, but resulted in a smaller number converted into business plans, according to IMFOF Manager Aina Comas.

IMFOF has created a guideline for people who want to start a business in the city.

Deputy Mayor Eberhard Grosske stressed the importance of the publication, which “gives concrete and practical responses.”

It explains in 13 parts the steps which need to be followed to open a business, incorporating two important parts; a special section for immigrants and worker cooperatives including self-employment possibilities.

Copies of the publication will be distributed at information sessions, youth associations and with specific groups.