Cámarabilbao joins protocol to facilitate business transfers in Bilbao

The Chamber of Commerce of Bilbao has joined the Collaboration Protocol for the Promotion of Business Transmission in the Commercial Sector of Bilbao, which aims to prevent closures due to the retirement of around 1,000 owners in the next five years.

The Chamber of Commerce of Bilbao has signed the Collaboration Protocol for the Promotion of Business Transmission in the Commercial Sector of Bilbao, an initiative that brings together seven entities with the goal of facilitating generational change in the city's retail businesses. The information, reported by camarabilbao.com, details that the agreement has already begun to activate joint actions.

The protocol responds to studies conducted by the Bilbao City Council, which estimate that in the next five years around 1,000 business owners will reach retirement age. The Councillor for Economic Development, Commerce, Tourism and Employment, Kontxi Claver, stated: "the impact that these forecasts may have on the commercial fabric of the city compels us to act proactively to offer a real alternative to potential closures through the transmission of businesses."

"It is a phenomenon that will occur in all sectors across Europe, but in our case, we want to tackle it with time and alternatives," Claver added.

Alongside the Chamber of Commerce of Bilbao, the agreement involves the Bilbao City Council through Bilbao Ekintza, the Basque Government, the Provincial Council of Bizkaia through DEMA, and three other entities. The presentation event took place at the Ensanche Building, which houses the entrepreneurship, SME support, and commerce services of the Bilbao council.