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Tuesday, January 18, 2005

The USA More Entrepreneurial !!

Its official:
The EU continues to lag behind the US when it comes to entrepreneurship, a poll published on Monday (17 January) by the European Commission shows.
Seeing as someone in the EU with a job no matter how lazy or incompetent is unlikely to lose their position, setting up a business is way down the list of priorities. As a businessman is likely to break ten regulations just having breakfast, the risks are too high. But that’s not the reason cited in the report.
The main reason cited by the Commission for the lack of entrepreneurial spirit in the EU is that people find it difficult to find sufficient funding to set up a business – either from banks or venture capital firms.
Banks everywhere like lending most to those that need it least, its part of their genetic makeup. I’m sure that with the exception of those with access to silicon valley venture capitalists, our cousins across the water do not have it any easier in this respect.
If the EU is serious about encouraging more Bill Gates and Richard Bransons in the EU, then it must look to ease access to finance for entrepreneurs as well as improve the entrepreneurial environment in Europe
But the reason to focus on financing is to enable the commission to do something, rather than for any strategic reason. Small business loan quotas anyone?

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