Feeds

EU floats growth plan: Aim power hose of cash at oldsters, web start-ups

You'd best make your own jobs, folks...

The Essential Guide to IT Transformation

The European Commission's new action plan that encourages entrepreneurship in order to boost economic growth says that member states should target their support at the sections of society least likely to be sitting on beanbags in Shoreditch.

Groups such as seniors, migrants, the unemployed and women should be encouraged into entrepreneurship, said the report. And it is to those groups that member states should be gearing government funding and education opportunities, says the memo Unleashing Europe's entrepreneurial potential to bring back growth, released Wednesday.

Pitched as a beneficial way for governments to foster start-ups, the European Commission suggested that targeting groups that are less likely to be self-funding project or to be touting their ideas around venture capitalist pitching sessions would reach untapped human resources.

The use of ICT in non-tech businesses in other sectors also had a beneficial effect, the report claimed. Business that embraced digital grew twice as fast, it states:

ICT is the key source of growth for national economies and European SMEs grow two to three times faster when they embrace ICT.

Highlighting the short life cycles of web start-ups and their tendency to boom and bust, the memo suggested that governments should tailor support specially to web start-ups, by introducing small funding earlier, for example. It also suggested web start-ups should be encouraged as a low-cost, low-entry barrier way for entrepreneurs to begin a business.

The idea is that unleashing Europe's entrepreneurial potential will bring back growth.

The Commission notes a drop in both the number of Europeans interested in entrepreneurship - a fall from 45 per cent to 37 perc ent between 2009 and 2012. That should be rectified, it said. Entrepreneurial spirit is higher in America, where 63 per cent aspire to set up their own businesses.

Other measures involved entrepreneurship more generally, increasing financial incentives and reducing regulation and making access to new finance easier for the "honest" bankruptee - the report said it was important to give people "a second chance after bankruptcy". ®

The Essential Guide to IT Transformation

More from The Register

next story
Just TWO climate committee MPs contradict IPCC: The two with SCIENCE degrees
'Greenhouse effect is real, but as for the rest of it ...'
'Blow it up': Plods pop round for chat with Commonwealth Games tweeter
You'd better not be talking about the council's housing plans
Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold
Ministry of Fun confirms: Yes, we're busy doing nothing
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
Apple smacked with privacy sueball over Location Services
Class action launched on behalf of 100 million iPhone owners
Adam Afriyie MP: Smart meters are NOT so smart
Mega-costly gas 'n' 'leccy totting-up tech not worth it - Tory MP
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.