A total of 160 self-employed individuals in Aragón have managed to exempt more than 3.5 million euros in debts thanks to the Second Chance Program since 2024. This initiative, which continues to grow, has another 4 million euros in the exemption process.
Agreement and Budget for Advisory Services
The Government of Aragón, together with the Association of Self-Employed Workers (ATA) and the Union of Professionals and Self-Employed Workers (UPTA), has renewed its commitment to the Second Chance Program through a new agreement. This agreement, endowed with a budget of 150,000 euros for the current year, focuses on providing advisory services to self-employed individuals in Aragón. The objective is to prevent the insolvency of individuals managing viable business projects, as well as to promote a financial culture among self-employed individuals and small and medium-sized enterprises (SMEs).
Impact on Economic Sectors
The program has been a lifeline for many self-employed individuals, allowing them to avoid financial collapse and keep their businesses operational. It has been particularly beneficial for the most vulnerable, who faced foreclosures or debt accumulation. The sectors that have most turned to this initiative are construction, commerce, and industry, reflecting the areas most affected by economic difficulties.
Legal Framework and Evolution of Self-Employed Individuals
Exemption applications are processed in accordance with Law 25/2015, known as the Second Chance Law. Since the program’s inception in 2024, there has been a notable slowdown in the loss of self-employed workers in Aragón. The year-on-year loss rate, which was 1.5% between 2020 and 2022, decreased to 0.2% in 2024 and 0.6% in 2025. By the end of 2025, the number of self-employed affiliates in the region reached 98,076, according to the Aragonese Institute of Statistics.
