Canary Islands Top The List For Self Employment Growth

October 12, 2015

In the Canary Islands, the number of self-employed has increased by nearly 4,000 people in the last 12 months and according to recent statistics there were 3.5% more self employed in September 2015 than in September 2014.

The Ministry of Employment is expecting that figure to rise still further,with the implementation of the law to promote self-employment which came into force on Saturday.

The new law removes age restrictions to the Social Security flat rate of 50 euros per month for six months for new start-ups and enables 100% of any unemployment benefit due to be drawn as a one off payment to invest in a business; both measures designed to kick start new businesses.

The Ministry predicts that nationally, more than half a million people will choose to work on their own occount from now until 2019.