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!
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Commission. Neither the European Union nor the granting authority can be held responsible for them.
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All advice received is well & good- but- who carries the cost in Europe of these “…..statutory organisation(s), chambers of commerce or SOMETHING? “
• Is it the advisors Messrs Dr Nicolas Brien, and Dr Markus Freiburg, all the taxpayers, or pay-backs from the future entrepreneurs who will make it?
• What happens to equal treatment and opportunities for all (HR)? Be they employees, employers or would-be employers- or does that not apply in the EU in that instant?
• E.g.- an international Elon Musk copy is not easily cloned in a risk-averse & socialistic thinking EU/Europe- isn’t it?
• Agreed, the EU has mainly been created for economic reasons. However, selling out to China or the US- once successful- is a likely occurrence.
• Who is going to reap the rewards for hardly taking any risks? Its costs are usually booked to the taxpayers’ account- the reward once more accrues to others. Is that what one needs the EU Commission for?
• Outstanding people will always succeed- wherever & whatever the hurdles are! Commercial banks are available & ready to help.
Another small piece of advice: unlearn from entrenched & extreme socialism first!
Lowering tax.
Top 12 youngest billionaires in the world 2022 🤑🤑
https://youtu.be/xeUJewU5Eq0
Offering support and education!
Tell them to get heavy subsidy from Biden.