Schwa Language Academy: Seizing the start-up opportunity

“What can I do after completing my studies?” Rosa Lopez, a young woman from the Majorcan town of Capdepera, had a very clear answer she had been mulling over for years. She did not have to go too far to find the help she needed to turn her plans of becoming an entrepreneur into reality.

In an area with an economy heavily based on tourism, she identified a business opportunity in the field of language training and started the paperwork to set up a language school. “I always wanted to have a business but didn’t know if I could ever achieve that”, she says. “When you finish your university studies, you have no money and no means to start a business; you need help.”

That is when she went to MicroBank, who advised her on the business project and made her a financial offer, with the support and backing of EIF and the EU COSME programme, that she considered the most attractive. With this support, Rosa was able to set off on her adventure.

Today, Schwa Language Academy offer classes for all age groups, and is based on a learning philosophy that includes not only the traditional approach, but also interactive fun and games. She used the loan to cover the rent deposit and to purchase the materials necessary to set up the business: books, games, furniture… It got the business off the ground.

In just two years, the initial team of three people who were running the academy has become a staff of eight employees, and a new centre in Sineu has been added to the first centre in Capdepera. There is also the possibly that a third centre will be opened in the near future. Rosa states excitedly, “Sometimes, I think I first opened to have a job and now I am doing it so that other people have jobs.” She concludes, “Seeing the school full of children is great, it makes you feel so good… it’s difficult to explain.”

Company: Schwa Language Academy (Spain)

Type of business: Language Academy; Education

EIF financing: COSME LGF

Financial intermediary: Microbank

For further information about EIF intermediaries in Spain, please refer to: http://www.eif.org/what_we_do/where/es