Samenvatting - Summary Europees ondernemingsbeleid [en] PDF

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Super korte samenvatting van de belangrijkste delen die te kennen waren. Dit volstaat zeker niet voor een goed examen! Het is eerder iets om de ochtend voor het examen nog eens te overlopen...

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Summary: Evidence based policy applied Obstacle 1. Financial risk

2. Lack of finance

3. Social security 4. Quality of life 5. Don’t see opportunities

MAP - Competitiveness of new economy businesses - Regulatory & Business environment - Support services co-ordination - Promote entrepreneurship  Improve financial environment

Policy response: start-up eco system Business insolvency initiative including early restructuring and second chance policy (SMS) Cosme: (1) Guarantee up to 80% of default risk (2) Equity: fund of funds (Gazelles) Access to unemployment allocations in case of failure (MS competence) Personal choice but should be an equal choice (education is crucial) 1 Single market strategy creates opportunities 2 Stimulate entrepreneurship (to c opportunities) 3 Make it easier to establish Start-Ups in other EU country (simple VAT, legal certainty, EU-company law, trans-border financing)

Evidence from economic analyses and public consultation points in same direction. Three broad sets of issues: A. EU start-ups put-off from scaling up by actual or perceived barriers -

Difficulty accessing and navigating information on regulation, requirements and access to finance; Still too many regulatory/admin barriers: Tax, Employment, Single Market barriers more widely Fear of failure/bankruptcy.

B. EU not making the most of public sector initiatives to help create scale -

Platforms, matchmaking events, clusters EU and MS programmes (e.g. COSME, H2020) Using public procurement most effectively

C. Insufficient access to skills, IPR and finance -

Skills, recruitment, education IPR Access to finance

Positive correlation between TEA and economic growth (R²=0,36) Positive correlation between TEA and employment (R²=0,22) Negative correlation between TEA and salary gap (R²= -0,49) Negative correlation between TEA and public expenses (R² = -0,61)

The 3 main actors: 1. The individual as a prospective entrepreneur - A business environment conducive to start-up: barriers to entry, access to seed finance, support and incubators - Fostering an entrepreneurial culture: Motivation by labour market, tax and social charges, attitudes to risk and failure, target groups AND education and skills 2. Firms as drivers for growth and competitiveness - A business environment conducive to thrive and survive: No red tape, skilled labour and finance - Fostering an entrepreneurial culture: Motivation trough ambition to internationalise and grow, taxation. Capacity: adapt to value innovation, intrapreneurship 3. An entrepreneurial society - The contribution of society to entrepreneurs: Appreciation of entrepreneurship by teachers, investors, family and friends. Reward risk and tolerate failure - The contribution of entrepreneurs to society: Responsible entrepreneurship. Social economy and social enterprise

1 Virgin Angel 2 Starting Angel: first investment 3 Loss-experienced Angel: first loss 4 Networking Angel: End of the BA. They go to the BA academy or do BAN (Business angel network) 5 Syndication Angel: 4/5 investments and portfolio management  They grow to a mega-angel

SBIC in USA 1 Pre-seed 2 Seed ----- 1 and 2 rely on crowdfunding. Most of the time, there’s not enough money so there is the SMALL EQUITY GAP 3 Start-up 4 Early-stage ----- 3 and 4 rely on business angel networks or on FoF. A lack of money in this fase is called the BIG EQUITY GAP 5 Expansion ----- The solution for a business to expand, for the exit? SBIC is the missing link! Incubators: Main reasons for bankruptcy 1 Lack of management 2 Lack of capital...