EU calls for more entrepreneurs

BRUSSELS: Policy makers in Europe want to convince more people to become entrepreneurs in order to bring back jobs and growth to the struggling bloc.

Critics have argued too many start-ups in a volatile financial climate will only struggle to survive while others said business-minded self-starters are born, not bred.

Policy makers in Brussels are more and more adamant that self-made businessmen and women will become the job creators Europe desperately needs.

The EU wants more entrepreneurial training at schools and universities, tax reductions for small businesses and the revision of insolvency rules countries so that honest failures don't inhibit entrepreneurs from trying again.

EU commissioner for enterprise, Mr Antonio Tajani, said: "We focus on entrepreneurs because entrepreneurs are innovative and they are the ones who come up with ideas. Even small entrepreneurs create jobs and growth over the last few years."

Traditionally, Europeans have been reluctant entrepreneurs. Last year, only 37 per cent of citizens were willing to launch their own business compared to levels of over 50 per cent of people in the US, China and Brazil.

Oliver Witmeur, from the Solvay Business School Entrepreneurship Academy said: "In the US and UK, entrepreneurship is positive. In Europe, we are more complicated. We don't like failure and success."

At the Solvay business school in Brussels, the Entrepreneurship academy has been running for thirty years. Despite the crisis and thanks to the growing role of technology, more and more students are singing up to the course.

Many point to Europe's complicated and inflexible labour laws as a key obstacle to more jobs and growth. However, there are voices who argue that more startups may be enough to jumpstart Europe's recovery.

Mr Witmeur said: "If you look at the big firms, the number of jobs is more or less decreasing. If you take the very small firms, there is same number of people coming in and exit. But the real growth drivers are growth in small number of companies in what we call the "gazelle" and they are creating new jobs"

Europe's unemployment crisis will force many into entrepreneurship out of necessity.

On the positive side, it may mean many out of a job will decide to pursue a life-long business idea, in hope that the EU's new action plan will inject some inspiration and make it easier for them.

- CNA/fa

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