Justin Camilleri

 

"In the digital single market strategy for Europe, entrepreneurship is now more than ever a force to be reckoned as it instantly promotes innovation." These are the powerful words of Vice-President of Corporate Affairs Europe, Amway Michael Meissner which summed up the entrepreneurial panel discussion organised by Amway that took place at the European Parliament in Brussels last week. A number of European Commission representatives, MEPs' assistants, European Commission representatives, representatives from European and national associations supporting entrepreneurship, but also entrepreneurs, chamber of commerce representatives and policy makers took part in the panel discussion. The panel entitled "Entrepreneurial spirit: why is it important - why does it differ?" encouraged participants to speak about the importance of promoting and nurturing entrepreneurship in modern societies. Amway, a world-wide leader in various health and beauty products, as well as a centre for business opportunities and a guide to entrepreneurship, hosted and led the numerous discussions empowering the spirit of entrepreneurship. 

Host Marlene Mizzi, a representative of the European Parliament in Brussels, as well as labour MEP and entrepreneur, said: "In light of its high potential for employment creation and ensuring sustainable growth in Europe, promoting entrepreneurship and making Europe a more entrepreneur, friendly environment has become one of the main priorities on the EU policy agenda."

MEP Mizzi also reminded participants about the importance of creating the right environment for entrepreneurs by eliminating barriers and putting in place more instruments and financial incentives which would support and encourage entrepreneurs and entrepreneurial attitude.

Another important point was raised by Vice-President of Corporate Affairs Europe, Amway Michael Meissner who stressed the importance of the internet today in accessing new markets and specialising in untapped niches serving the global market. Mr Meissner also said: "In the digital single market strategy for Europe, entrepreneurship is now more than ever a force to be reckoned as it instantly promotes innovation."

The sixth Global Entrepreneurship Report (AGER) were also presented by Mr Meissner during the panel. The Amway Global Entrepreneuership Report (AGER) takes the public pulse of the state of self-employment around the world. Combining decades of expertise and forward-thinking, the AGER is conducted by Amway, in partnership with Dr. Isabell Welpe, the chair of strategy and organization of the School of Management, Technische Universität München (TUM) in Munich, Germany. The index explored three motivational factors which are: desirability like independence or gaining money, stability in the social context, and feasibility which is connected to the necessary skills or financial capabilities.

Dr Marcus Drescher from the Technische Universität München talked about the importance of being aware of what beginner entrepreneurs are facing. He said: "The understanding of what entrepreneurs face when starting up a business is crucial for companies and governments who want to strengthen entrepreneurship."

The numbers speak that nearly half of the respondents feel they have the desire to start a business (55%), that it is feasible (47%) and that they would not let their social environment discourage them from their desires (49%). European countries like Slovenia, Lithuania and Finland have the highest proportion of respondents who see themselves starting a business. On the other hand, countries like Germany, Poland and Croatia aren't very keen on being entrepreneurs. Younger people have the strongest desire to becoming self-employed, especially males, who feel more confident to start a new business in comparison to females.

The report found fear of failure to be one of the key obstacles to entrepreneurship. EU respondents see the financial aspects of entrepreneurship as a remaining hurdle to venturing out. "Financial burdens" (41%) and "threat of the economic crisis" (29%) are some of the aspects that encourage these fears.

During numerous debates, participants voiced their feeling related to the EU Commission's ability to reduce the administrative burden of enterprises, like creating funding for small and medium enterprises and the need for its promotions. The need for programmes such as the Erasmus Entrepreneurs was also talked about, as well as giving new or aspiring young start-ups the chance to learn from founders of already established successful businesses.

Remarking on the bequest of entrepreneurship in Europe, S & D MEP for Romania, Maria Grappini said: "The initial financial aspect of entrepreneurship in Europe is imperative, there needs to be better communication of what EU Funds are available as certain entrepreneurs, even the ones who are starting up are missing out on these opportunities."

Bert van Wassenhove, who is the founder of the Cafe.be platform, stated how no one is born an entrepreneur and it is something that has to be learned and therefore education is crucial.

Head of Unit Clusters, Social Economy and Entrepreneurship Unit of the Directorate General Grow, Michel Catinat said: "More education in entrepreneurship is the way forward, as well as generating the interest among students to start a business. The project of mini-enterprises in high schools is a success story and a great example on how to infuse the entrepreneurial spirit into youths at all levels."

The discussion panel ended with a conclusion by MEP Marlene Mizzi who said: "Fostering entrepreneurship is not a panacea for solving all problems in Europe, but it is a promising and, perhaps, quite under-explored avenue to address some of the problems that the economy is facing today".