Europe is an entrepreneurial continent. In 2018, the majority of enterprises in the EU were small enterprises, and it’s become a cliché that Small & Medium Businesses are the “backbone” of the European economy. But could the EU be doing a better job at supporting that backbone?
What do our readers think? When we asked our readers what was holding back their entrepreneurialism, we received a flood of responses arguing that red tape is the main problem. A typical comment comes from Toni, who blames “taxes, red tape, mandatory self-employment taxes, etc., etc.”
We also had a comment sent in by email from Bassel, asking: “What (future) measures [will the EU take] to support young entrepreneurs from foreign origin with starting their business in Europe?“
Finally, our reader Laszlo wonders how we can make sure SMEs aren’t left behind by ever-faster developing technology. He suggests: “Could some kind of mentorship program be part of a solution, or rather some continuous coaching or advising by some statutory organisation, chambers of commerce or something?“
To get a response, we spoke to:
- Dr. Nicolas Brien, Chairman of the European Startup Network
- Dr. Markus Freiburg, Founder and CEO of the Financing Agency for Social Entrepreneurship (FASE)
You can see their answers in the video at the top of this post!
How can Europe better support entrepreneurs? Is there too much red tape? Are taxes too high? Should there be more advice, support, and mentorship opportunities? Let us know your thoughts and comments in the form below and we’ll take them to policymakers and experts for their reactions!