Survival of entrepreneurship in Spain

The aim of this paper is to analyse the determinants of survival in entrepreneurship in Spain. For this purpose, a Cox proportional hazard model is estimated, using information from the Continuous Working Life Sample. The results show that opportunity entrepreneurs have a higher probability of continuing their entrepreneurial activity than entrepreneurs motivated by other reasons. Moreover, women show a higher survival rate than men. In addition, a high educational level positively influences survival, whilst previous work experience increases the risk of not surviving. Finally, age, with a nonlinear influence, increases probability of survival but at a decreasing rate. The implications of these results are that it should not be encouraged entrepreneurship indiscriminately, and authorities should promote entrepreneurial training and help entrepreneurship of people under 30 and over 45–50 years.