We believe in you
People, talent and collaboration, the perfect formula
One more month we approach you through this Bulletin to remind you that you can count on us IL Coworking & Legal Services for the performance of your activity. With us you will benefit from the perfect formula to have an adequate climate and modern work space, favorable to promote your talent, but you will also have the precise tools so that your entrepreneurial or professional work can develop without setbacks. We believe in people and that is why you can count on our support at all times.
We have a different way of understanding the management of coworking spaces, focusing on people and their role in the business world. For this reason, we have considered it essential to offer you a series of support services such as the continuous and professional attention of our excellent secretarial team, without forgetting the management, if you wish, of your correspondence and other administrative needs, so that you can stop worrying about issues that can take time away from your professional work and make you less effective and efficient.
The day-to-day life of your role as a professional or entrepreneur also involves fulfilling a series of fiscal and accounting obligations. Therefore, IL Coworking & Legal Services offers you the possibility of having a highly professional service in this field, thanks to our alliance with the firm Acountax Madrid, expert in managing and advising your needs in the best possible way. All this without forgetting the great legal team that we put at your disposal if you wish to have support or advice on any legal matter of a criminal, civil or commercial nature, with excellent conditions of access to these services.
In short, we have designed a series of services that allow you to simplify business management, focusing more calmly on the growth of your business, complemented by the experience of enjoying our coworking space.
People are our reason for being and the main axis of our actions. Therefore, let us enhance your talent, connecting it with the best professional support services that you will need to carry out your professional and business activity with maximum guarantees. We want to collaborate with you so that you continue to grow.
STARTUPS
The startup investment market will grow by 381%3Q in 2024
In the world of startup investment, 2024 has brought several pieces of news, mainly based on mega rounds, emerging sectors and renewed confidence from international investors who are driving this transformation. Although big bets have increased, early-stage investment faces challenges, according to the recent report on startup investment in Spain carried out by the Bankinter Innovation Foundation.
It is particularly noteworthy that the total investment volume has grown by 381 TP3T in the first nine months of 2024 compared to the same period in 2023. Given that 921 TP3T of the total invested during the whole of 2023 has already been reached, a higher figure is anticipated for the year-end.
This growth is largely explained by the increase in mega rounds, those of more than 50 million euros, and which often include the participation of international investors.
On the positive side, public investment is also on the rise, increasing by 24% in the first 9 months of 2024 compared to the same period last year. However, if these mega rounds are not considered, there is an 8% decrease in the investment volume and an 11% drop in the number of operations. So far in 2024, mega rounds represent 55% of the total amount of investment in startups.
The report also reveals that 541% of the total investment volume comes from foreign investors, which demonstrates the growing international confidence in the Spanish entrepreneurial ecosystem.
From a sectoral perspective, the Fintech/Insurtech sector is standing out in 2024, representing 281% of total investments in startups and raising €603 million in the first three quarters of the year. Other sectors that also show promising prospects are Travel & Tourism, which is in second place with €396 million, driven by favourable global forecasts for tourism resulting from changes in consumer habits and the financial situation of developed countries. The third position in the funding ranking is occupied by the Mobility & Logistics sector, with €279 million raised.
As regards the geographical distribution of this investment, Barcelona leads with 874 million euros raised, followed by Madrid with 780 million. Palencia has gained relevance this year thanks to the operation of Zunder, an ultra-fast charging platform for electric vehicles, which, with its 225 million euros raised last summer, has placed the province in third place in terms of investment in Spain. The report also highlights intense activity in divestments (exits), with 48 operations completed, which represents 90% of the 2023 total.
PROFESSIONAL ACTIVITY
The figure of the economically dependent self-employed worker (TRADE)
This month we are going to discuss a particularity of self-employed professionals that is of great interest and which also entails a series of fundamental requirements to be taken into consideration. We are referring to the figure of the self-employed worker who is considered a TRADE (economically dependent self-employed worker). To be considered as such, at least 75% of the income received for the provision of professional services must come from a single payer.
In addition to economic dependence, to be a TRADE the self-employed person must meet a series of additional requirements:
- They must not have hired workers (with exceptions, such as maternity or paternity leave), nor may they subcontract all or part of the activity to third parties.
- It may not carry out its activity in an undifferentiated manner with respect to the workers of its main client (that is, it may not be confused with the workers of the company for which it provides services).
- It must have its own material and production infrastructure and act according to its own organisational criteria.
- You must receive financial compensation based on the results of your activity, as agreed with your client.
In order to properly prove the activity of a TRADE, the latter has the right to have his status recognised by means of a written contract, for which the client may require him to prove that he fulfils the conditions to be a TRADE, that is, he must prove that 75% of his income comes from a single payer. If the client refuses to sign the contract, the self-employed person may request recognition as a TRADE before the courts.
The contract must state, among other things, that the TRADE status occurs with respect to the client with whom the contract is signed and that, therefore, at least 75% of its income comes from that client.
Likewise, the contract must reflect the notice period for which the TRADE must communicate its desire to terminate the contract or the reasons that both parties consider for the termination of the contractual relationship.
The termination of the relationship between the parties may occur by mutual agreement, in which case it would not give rise to any type of compensation (unless the contract expresses a different issue or there is abuse of rights by one of the parties). If the termination occurs due to non-compliance by the company, compensatory compensation should be agreed. Likewise, if the non-compliance falls on the TRADE, they could also claim damages for it. In the event of a lack of agreement, the courts would agree on the exact amount of compensation that, if applicable, arises, depending on the seriousness of the non-compliance by one or the other party.
False self-employment? It is important to reflect on the figure of the “false self-employed”. In this regard, it is important to underline that, even if the TRADE signs a contract for the provision of services, this agreement will not prevail over the reality of the relationship. Therefore, if dependence and alienation are appreciated, he will be considered a false self-employed person.
For these purposes, indications that the self-employed professional is really an employee would be if he receives a fixed monthly payment, if he works with the company's tools and means, if he does not have the autonomy to organize his work, if he is subject to a work schedule and if he has to go to the company/client every day.
In the event that a TRADE is considered a false self-employed person, the company/client will face a sanctioning regime for failure to register the worker in the General Social Security Regime and, in addition, the worker will be automatically registered in the General Regime and liquidated for the contributions not paid in said regime.
ENTREPRENEURSHIP
Artificial intelligence becomes the key technology for Spanish entrepreneurs
The 'Entrepreneurship Map 2024', prepared by South Summit to offer an x-ray of the Spanish entrepreneurial fabric, reflects how the maturity of the ecosystem continues to rise with the rapid adoption of new technologies and the incorporation of sustainability in the value chain. This edition of the 'Entrepreneurship Map 2024' has sought precisely to shed light on some less obvious aspects of the entrepreneurial ecosystem in order to make it advance. To do so, more than 3,000 startups have been analyzed in detail with the aim of evaluating their characteristics, observing their impact and detecting what challenges they face.
One of the main conclusions is that entrepreneurs have been able to find opportunities amidst challenges. There is no doubt that the need to gain relevance in an increasingly competitive environment opens up new opportunities for entrepreneurship. Precisely, with the aim of seeking these new opportunities, the latest advances in artificial intelligence are causing a significant transformation of productivity in different sectors.
This has led to AI being the most widely used technology by Spanish entrepreneurs, and proof of this is that 30% of startups use this technology, which represents a growth of 10% in just three years. A boost that is due, in part, to the need to innovate and optimize processes to stand out in the business environment. Even so, there is still a long way to go: in North America, 37% of high-growth companies use this technology, while in Europe the figure stands at 35%.
The technological component is closely related to start-ups, and that would explain the rapid adoption of solutions linked to artificial intelligence. This phenomenon is also reflected in the growing use of API-based technologies, which allow startups to quickly integrate new tools and services. In fact, 50% of startups are dedicated exclusively to offering software, while 30% combines it with different types of services.
This ability to rapidly adopt new technologies is, in fact, one of the positive aspects highlighted in the conclusions of the 'Entrepreneurship Map 2024'. It is accompanied by others, such as the incorporation of sustainability in the production chain or the high qualification of entrepreneurs.
Although the report also highlights aspects to improve, such as the inclusion of women in the ecosystem, advances such as the startup law and the creation of the National Entrepreneurship Office (ONE) point to a promising future for entrepreneurship where challenges will be transformed into great opportunities to strengthen the
ecosystem.
Entrepreneurs, highly qualified and with an average age of 38 years
The South Summit report shows the most typical profile of an entrepreneur. He is a highly qualified man of about 38 years old who has previously worked in a company. The reasons that drive someone to start a business usually vary depending on the circumstances, but can be grouped into two main categories: the desire to do it from the beginning or the identification of an opportunity in the market.
Entrepreneurs continue to be predominantly men, a disparity that underlines the need to promote inclusion in the business world. There are only 20% women.
Another important aspect of the report is the high presence of serial entrepreneurs. That is, those who start businesses successively and who progressively improve their ability to survive in the market. 58% of Spanish entrepreneurs are serial entrepreneurs and, of them, 35% claim to have achieved success and 54% to have failed previously. The majority of entrepreneurs in Spain (more than 80%) attribute their failures to their own decisions.
DEVELOP YOUR BUSINESS
The 10 keys to modern marketing that you should know
“Marketing” is an Anglo-Saxon word that means marketing or marketing techniques in Spanish. Both meanings are correct and, from a traditional perspective, it can be said that marketing consists of seeking to promote and serve markets. However, both markets and consumers have evolved over time, a circumstance that has led to the concept of “Modern Marketing” being discussed, given that communication processes and human relations have been transformed, and this forces companies to rethink their marketing and sales strategies.
In short, Modern Marketing brings together good practices to approach a consumer with a more digital, social and connected profile. In the Internet era, the customer is not the same as he used to be, hence marketing must adopt other strategies.
to be successful in that approach.
In light of this, we present ten keys to Modern Marketing, according to the Massachusetts Institute of Technology School of Business:
1. Technology is only the first step. In the digital age, technology is the undisputed protagonist. However, it is worthless on its own. To take advantage of its potential, it is essential that there is a union between technology, processes and people.
2. Differentiation through experiences. The 21st century consumer is hyperconnected and not easy to impress. That's why companies must constantly use creativity to differentiate themselves from the competition through more immersive experiences and content.
3. Customer-centric marketing. Today, more than ever, the customer is a fundamental part of any brand. That is why, in every step they take, they must always be present. Modern Marketing advocates practicing active listening to understand how users think and feel.
4. Online and offline support. Neither the online environment replaces the offline environment nor vice versa. Therefore, both traditional and digital channels must be promoted equally.
5. Value creation. Value creation is essential for the success of the marketing strategy. Value creation is primarily related to the psychological, emotional and social benefits obtained.
6. Test, test, test. New scenarios demand a culture based on testing, both in terms of product and marketing.
7. Creativity is the key. The digital transformation of marketing must be accompanied by high doses of creativity, as a fundamental factor that contributes to success.
8. Collaboration. It is necessary to invest in collaborations. Alliances with others, product integration, complementary technology and, ultimately, synergies are the key to new marketing.
9. Marketing versus values. You can do the best marketing, but try to make it good too. New ways of doing marketing demand marketing with values: more sustainable, inclusive and diverse.
10. A new leadership style. Marketing managers must be customer-oriented, capable of designing cutting-edge experiences for consumers and driving company growth.
CURRENT TAX
The specifications of electronic billing software have been regulated
- The technical, functional and content aspects that must be met by the
systems and programs that support billing processes, along with the standardization of billing record formats and the technical and functional specifications for QR code formation.
The Official State Gazette of October 28 published Order HAC7/1177/2024, of October 17, which completes the regulatory development of article 29.2.j) of Law 58/2003, of December 17, General Tax Law, in relation specifically to Computerized Billing Systems for Businessmen and Professionals. The publication of this Ministerial Order marks the beginning of the maximum period of nine months in which manufacturers and marketers of billing systems for businessmen and professionals must market products adapted to the regulations.
This maximum period does not prevent the marketing of adapted computer billing systems from starting earlier, since the manufacturers and developers of billing systems have been permanently informed of the content of the technical annexes of this Ministerial Order during its preparation.
The Ministerial Order establishes the bases for the standardization of formats for billing records and specifies the technical and functional specifications for the formation of the "QR" code and, where applicable, the phrase that must be included in invoices issued by computer systems. It also establishes the minimum requirements for electronic systems for sending information to the Tax Administration (Internet connection, management of electronic certificates, sending billing records and receiving and processing the response from the Tax Authority).
Tax administration). These systems must guarantee the integrity and inalterability of the billing records and their traceability. Likewise, the computer system must guarantee the conservation and accessibility of all billing records and detect possible errors and anomalies. On the other hand, it is worth remembering that:
- Electronic invoicing will be mandatory for companies and professionals who carry out B2B commercial transactions from 2024. Self-employed workers are included in simplified direct estimation.
- From July 2025, companies with revenues of less than 6 million euros must send their electronic invoices instantly to the Tax Agency using the free Verifactu system.
- Companies with a turnover of more than 8 million euros will have to comply with this obligation from 2025, and from 1 January 2026, all persons or entities carrying out economic activities will have to adhere to this system.
Communication from the Tax Agency addressed to owners who sell their homes
The Tax Agency (AEAT) has issued a statement addressed to homeowners regarding their tax obligations at the end of the sale process of their real estate property. According to the tax administration, there are three taxes that sellers must pay. On the one hand, the well-known Property Tax (IBI), which is divided proportionally between buyer and seller depending on the time in which each has been the owner of the property. On the other hand, the payment of the
municipal capital gains tax, as well as Personal Income Tax (IRPF), which consists of notifying about a possible capital gain in the next Income Tax Return.
However, it is also worth remembering that there are different scenarios in which owners could benefit from the sale of their home and be exempt from paying personal income tax. For example, those who use the money obtained from the purchase to acquire another habitual residence in the two years before or after said operation may have an exemption for reinvestment in housing. In any case, it is necessary to ensure that the transferred and/or renovated home meets the requirements to be considered a habitual residence and that it has been lived in for at least three years.
For those over 65 years of age and dependent persons who decide to get rid of their main residence and do not reinvest the money obtained in a new purchase, they will not be obliged to pay taxes on this. In addition, if the property sold is a second home, they could also benefit from a tax exemption if the funds obtained in the transaction are used to establish a life annuity that does not exceed 240,000 euros, only having to pay taxes on the excess of that amount.
TODAY COMMERCIAL
The draft Law on Business Information on Sustainability has been approved
On 29 October, the Council of Ministers approved the draft Law on Corporate Information on Sustainability for submission to Parliament, which modifies the Commercial Code, the Capital Companies Law and the Audit Law. This transposes two European directives that improve the framework for the presentation and verification of information on environmental, social and governance issues, and rationalises the obligations for companies to present corporate information.
This Law will be applicable to all large companies and groups of companies, and also to medium-sized and small listed companies (except micro-enterprises). All companies must prepare a sustainability report that includes the impact of their activity on environmental, social and human rights issues.
humans. In addition, the standard will require independent verification of companies' sustainability reports, at the same level of rigor as the audit of financial statements.
The entry into force of the standard will be staggered to facilitate adaptation to European regulations. In this way, the obligation to provide information affects:
1. All large companies. When the assets exceed €25 million and the net amount of the annual turnover exceeds €50 million. Distinguishing two groups:
• Large public interest companies and dominant entities of public interest groups, with more than 500 employees in both cases. From 1 January 2024.
• Other large companies and parent entities of large groups. From 1 January 2025.
2. Listed SMEs (with the exception of micro-enterprises and SMEs listed on alternative and growth markets); large captive insurers, and credit institutions defined as small and non-complex. From 1 January 2026.
3. Both Spanish subsidiaries and branches of third-country companies with a turnover in the EU territory exceeding €150 million must submit this information from 1 January 2028.
The Spanish Chamber of Commerce supports compliance as a key to business competitiveness
The Spanish Chamber of Commerce has held the “The Future of Compliance” conference, within the series of conferences designed to help promote an ethical business culture that prioritizes crime prevention and to identify best practices. The Secretary of State for Trade, Amparo López Senovilla, stressed the importance of compliance in an increasingly regulated global context, stating that “it is extremely important to comply with legal standards.”
He also stressed that compliance allows “the reputation of companies to be protected, strengthened in the eyes of customers and society, and improve their efficiency.” For Senovilla, an effective compliance program “optimizes resources and generates trust both internally and externally.” For his part, José Luis Bonet, president of the Spanish Chamber of Commerce, stressed the importance of helping companies minimize the risks of criminal liability.
Compliance programs are primarily intended to ensure that the company complies with the law. They seek, on the one hand, to prevent the occurrence of unlawful conduct, and, on the other, to detect any deviation in a timely and rapid manner and thus reduce and, if possible, reverse the damage caused to the company.
Compliance therefore pursues several goals: it helps companies protect themselves against sanctions, it assists management in preventing illegal acts and, once they have occurred, in dealing with them quickly to avoid greater damage, it contributes to establishing a sustainable company culture that is in line with ethics and the law, and, finally, it demonstrates the company's commitment to its integrity management values. Beyond protection against criminal liability, the truth is that good corporate governance protects the company's reputation, making it more competitive.
Remember that it is important to have a team of professionals who are experts in compliance and who are able to advise companies on the implementation of integrity management and ethical conduct programs, without forgetting the implementation of control and supervision mechanisms or the launch of an appropriate reporting channel.
CURRENTLY WORKING
The SEPE has a “Self-Diagnosis Questionnaire on Personal Competencies for Employment”
- It allows you to know and measure your personal and transversal attitudes, also called “soft skills” or soft competencies, for free and anonymously.
The State Public Employment Service (SEPE) has reminded that it has a “Self-Diagnosis Questionnaire on Personal Competencies for Employment”, generically called ComPersonal. ComPersonal is a tool of the SEPE Occupations Observatory available on its website and that allows you to know and measure your personal and transversal attitudes, also called “soft skills” or soft competences, free of charge and anonymously.
The Self-Diagnosis Questionnaire on Personal Competencies for Employment is a form that creates, based on your answers, your profile in those competencies, not so closely linked to specific qualifications or jobs, but with personal and transversal attitudes.
There are no right or wrong answers, sincerity is key to obtaining a reliable result. At the end of the process, the results can be obtained in a personalized report. The selected competencies are based on the European Model of Competences ESCO (European Skills, Competences, Qualifications and Occupations).
A changing labour market requires competencies that are not only based on professional knowledge and skills, but also include those that are important for optimal professional development.
SEPE reminds us that to ensure the efficient performance of an occupation, it is no longer enough to acquire technical and theoretical knowledge; it is also necessary to have a series of personal skills, attitudes and aptitudes of a transversal nature.
By creating a SEPE “Personal Tool Box”, workers are provided with greater autonomy and flexibility when facing and resolving professional problems and challenges.
Measures for equality and non-discrimination of LGBTI people in companies
This October, the Royal Decree that develops the regulations against harassment at work of the LGTBI community was approved. The norm contains several measures to achieve equality and non-discrimination against LGTBI in companies and also a protocol for situations of harassment due to sexual orientation and gender identity and expression.
One of the most important issues is that the protocol will have to be applied by companies with more than 50 employees, and they must begin negotiating these measures within a period of three months (six months if they do not have a collective agreement) from the day after the publication of the regulation. Companies with 50 employees or less will be able to negotiate it voluntarily.
The anti-harassment protocol will apply to all company staff and also to those applying for a job, staff providing services, suppliers, clients and visitors, among others.
When the law comes into force, collective agreements or conventions will have to include clauses to create a context favourable to diversity, which must make express reference not only to sexual orientation and gender identity, but also to gender expression and family diversity.
In addition, companies will also have to include specific modules on the rights of LGBTI people in their training plans. Likewise, companies' collective agreements will have to include measures that address the reality of diverse families, spouses and de facto partners in the LGBTI community.
Furthermore, the agreements must include as "very serious" sanctions attacks on the sexual freedom of workers, and the Labour Inspectorate will be equipped to monitor compliance and impose sanctions in the relevant cases.
NEWS
We continue to grow: alliance with Ibis Styles Madrid Centro Maravillas
IL Coworking & Legal Services is betting on expanding its range of action, betting on offering value-added services to our clients. Good proof of this is the recent alliance we have signed with Ibis Styles Madrid Centro Maravillas. Thanks to this new agreement, those people who reserve our spaces will be able to enjoy a 10%
discount on your stay at this hotel, located at Calle Manuela Malasaña, 6, in Madrid, just a few meters from our facilities. This special offer is valid from Sunday to Thursday, applicable only when presenting your booking confirmation as a customer of ILCOWORKING & LEGAL SERVICES.
New IL Coworking intervention on Radio Intereconomía
Our director, Manuel Lamela, has participated again this month in Mariló Sánchez-Fuentes' program, “Negocios de Carne y Hueso” (Flesh and Bone Businesses), on Radio Intereconomía. This time, the interventions focused on the topic: “A Work Ecosystem for the Future: Co-Living and Coworking for Millennials and Gen Z”!
Lamela explained how Millennials and Generation Z, key profiles in our coworking space, are redefining work and living towards collaborative and flexible environments such as co-living and coworking. In his speech, he delved into how these models respond to current needs for mobility, work-life balance and a sense of community.
We are proud to be present once again in “Negocios de carne y hueso”, as it is a leading program in the entrepreneurial and startup ecosystem, providing information on all the keys and tools to overcome any obstacle and succeed with your company.
