- The survival rate of mentored companies is 87%.
- 94% of people who were previously unemployed are currently working.
Barcelona, November 15, 2018. Autoocupació has a mentoring program in which entrepreneurs, professionals, and executives share their time and experience as volunteer mentors with young entrepreneurs to help them consolidate and grow their businesses.
Since 2013, 351 new companies have been supported by 312 volunteer entrepreneurs in Catalonia, applying the mentoring methodology of Youth Business International, which has more than 14,000 volunteer mentors in over 50 countries. Yesterday evening, the ENDESA Space in Barcelona by Fundación ENDESA hosted the celebration of the 5th anniversary of the program, where the mentoring impact study prepared by PwC was presented. During the event, entrepreneurs from the mentoring program participated in the pop-up store, showcasing their projects.
The study highlights that mentoring has been a key factor in the personal and professional development of participants and in the improvement of their employment situation:
94% of people who were previously unemployed are currently working.
Marc Coloma, a 26-year-old entrepreneur and CEO of Foods for tomorrow, who in his first two years has already created 8 full-time and 10 part-time jobs.
“Having someone with so much experience to share concerns with, to feel heard, and to discuss solutions is one of the best gifts an entrepreneur can have.” Marc Coloma, entrepreneur
The study also highlights the impact of the mentoring program on business success: participating companies doubled their turnover and increased their workforces by 60%. Guillem Arís, director of Autoocupació, emphasized that “businesses supported by a mentor are more than twice as likely to continue as others, with a 5-year survival rate of 87%, compared to 41%, which is more than double the national average.”
Regarding the effects of the mentoring program on the economy, the study also measured that the mentoring program has fostered the creation of 713 new jobs and a contribution of more than 8 million euros to public coffers in the form of social security contributions, taxes, and savings on unemployment benefits.
