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Snapshot of Madrid's Economic Activity Viewer, Source: Ayuntamiento de Madrid

Entrepreneurs in Madrid now have access to a valuable tool

Entrepreneurs in Madrid now have access to a valuable tool

The economic activity viewer displays data previously only available to officials

Starting a new business can be a stressful decision, given the high probability of failure, and such failure is often due to a lack of sufficient preliminary information that would help make a viable business plan and strategy.  One of the mantras often taught in business schools is that what really matters for success is the optimal location of one’s premises.

That is why the Municipality of Madrid has decided to move into a revolutionary new direction in terms of transparency and private enterprise encouragement and offer an online economic activity viewer. This is a constantly updated database that shows the situation in the various districts and what can be and cannot be done there in terms of economic opportunities.

Are you thinking of opening a business in Madrid? Then this will interest you

This type of information had always been a privilege only to public administration officials but now it becomes freely available to everyone in order to level the playing field and boost entrepreneurship while minimizing the inherent risks involved in starting a new business.

The economic activity viewer is available on this link: https://arcg.is/1S0KKC. The goal of the officials is to also encourage foreign investment and to bring certainty, which is a rare and valuable commodity for entrepreneurs, in times when it is desperately needed.

An interactive map that can be zoomed into, shows what the most suitable productive activities for each district and sector might be. Clicking on a specific coloured point will bring out a drop-down menu with information on things, such as type of land (tertiary, industrial or residential), cadastral information and date of construction of the buildings on the land parcel.

The map also shows how the districts are served by and connected to the public transport options of the Spanish capital.

This kind of at-hand information will be extremely useful to developers and investors and is a great show of support to them on part of the municipal authorities as it provides them not only with better transparency but also with reduced expenses in terms of conducting preliminary research.

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