Unleashing Europe's entrepreneurial potential to bring back growth
To return to growth and higher levels of employment, Europe needs more entrepreneurs. With 4 million new jobs created every year, new companies, especially small and medium sized enterprises (SMEs), create the most new jobs in Europe.
Therefore, European Commission Vice President Antonio Tajani presented today an action plan to support entrepreneurs and revolutionise entrepreneurial culture in Europe. The plan stresses the key role of education and training to nurture new generations of entrepreneurs, and includes specific measures to help budding entrepreneurs among young people, women, seniors, migrants, and the unemployed.
The high level of EU unemployment leaves untapped human resources, especially amongst women and young people. The plan also tackles obstacles to entrepreneurship such as ambitious measures to facilitate start-ups and new businesses, make transfers of business ownership more successful, improve access to finance, and give honest entrepreneurs a second chance after bankruptcy.
MEMO/13/4 Eurobarometer Entrepreneurship 2012: Over the past three years the share of EU citizen who want to be their own boss has fallen from 45% to 37%. This drop is caused by less promising business prospects due to the current crisis.
MEMO/13/5 Entrepreneurship as a main driver for economic growth
Entrepreneurial education triggers increase of new companies
Between 15% and 20% of students who participate in a mini-company programme in secondary school will later start their own company, a figure that is about three to five times of that of the general population. Higher education in entrepreneurship can boost high-tech and high growth companies by supporting business ecosystems, partnerships and industrial alliances.
The plan also covers six key areas where action is needed to create an environment in which entrepreneurs can flourish and grow:
The Commission also intends to promote entrepreneurship in specific segments of the population:
The Commission will now closely work with Member States, business organisations and relevant stakeholders to implement the action plan in the perspective to lead Europe out of the crisis, including a roadmap with specific targets and dates to deliver tangible results.
37% of Europeans would like to be their own boss
Almost 4 out of 10 Europeans would like to be their own boss if they could. If this potential could be tapped, millions of new businesses could be added to the almost 21 million small and medium-sized enterprises (SMEs) in the EU. Various obstacles prevent Europeans from opting for self-employment, in particular fear of bankruptcy and risk of irregular income. The Flash Eurobarometer "Entrepreneurship in the EU and beyond", presented today by European Commission Vice President Antonio Tajani, also highlights that in 2009 more Europeans (45%) wanted to be self-employed. This is a drop of 20% within three years, which reflects the current economic situation with its less promising business prospects.
Yet there are still millions who consider becoming their own boss, driven by the prospects of personal independence, better income and freedom to choose the place and time of work.