On 28 January, Labour MEP Marlene Mizzi is hosting an event in the European Parliament to promote the importance of European Entrepreneurial spirit "Why is it important – Why does it differ?".

The event will present the first annual Amway Entrepreneurial Spirit Index (AESI) developed with the Munich Technical University (TUM). The index draws on theory to examine citizens’ intentions towards a certain behaviour – such as the willingness to start a business – and how these are driven by motivational factors. The more favourable these factors are the more likely that people will successfully change their behaviour.

The index allows the tracking of states’ performance and an examination of the underlying causes of national attitudes towards entrepreneurship. According to a study, the higher a country’s AESI score is, more people can imagine starting a business in their country. The index also enables an examination of entrepreneurial spirit among different demographic groups e.g. age and gender. This information gives us a better insight and understanding on why people living in some countries can or cannot imagine starting a business to better target public policy design and enable a tracking of their impact.

Marlene Mizzi said: "It is with a great pleasure for me to host this conference, which intends to spark interesting debate on issues surrounding entrepreneurship by offering concrete, research-based insights into world attitudes and entrepreneurial spirit."

"Undoubtedly, Europe needs more people with entrepreneurial attitudes and with creative ideas. However, we need to make sure not only to identify potential entrepreneurs but that they have the right incentives, knowledge, skills and attitudes so that they want to become entrepreneurs. Most importantly, there are tools to assist their success their endeavours. To do that, we need to first gain a deeper understanding of the motivation and desires of potential entrepreneurs which is the  purpose of the Entrepreneurial Spirit Index which will be presented at the event." said MEP Mizzi before the event.