Start-ups and innovative enterprises play a vital role in gaining prosperity and creating jobs.


How can the EU support young people in starting their own business?

Can we create a culture that tolerates failures and gives young entrepreneurs a second chance to succeed?

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Please try to be as concrete as possible when answering the questions, the more in depth you go the more impactful your answers will be!


Looking at youth entrepreneurship, I believe that the problem trickles down to a lack of useful connections, and a lack of funding or the opportunity of thereof. From a connections viewpoint, the EU should actively support the gathering of like-minded individuals through networking events, conferences and challenges/awards. This would allow young entrepreneurs to connect with industry professionals, mentors, innovators and investors during these concentrated events which could significantly boost their chances of success. The EU already offers many streams of funding for start-ups and SMEs, however, access to these funds is limited and wrought with bureaucratic obstacles. Funding solely for students should be made available and actively advertised at universities and aforementioned events. Furthermore, in order to nourish an environment where failure is not frowned upon, the EU should discourage young entrepreneurs from pursuing their startup goals through funding from financial institutions as this is highly risky and creates unneccessary burdens. Rather, the EU should promote entrepreneurs to use their own funds or for them to actively apply to awards offering financial rewards and official funding.
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Votes: 151

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There are a few ways that I would like to propose which I believe could help young entrepreneurs. The ways are: 1. Provide a no taxation for start-ups until they reach a certain salary. This gives them a chance to build their business and gain a steady income from it. 2. Inform them clearly of the opportunities available to them and have guest speakers attend universities etc. 3. I think the biggest problem for our youth is that they're told they cannot do this or that. I propose that we ensure that they know that anything they want to do is possible. They know that they are not suppressed, they can start a business, they can achieve the dreams they set out to achieve because with a suppressed mindset they will never pursue their dreams. You will find that many people want to start a business but believe they can't. 4. Provide funding for the start ups and guidance from those who have been successful in the industry through a mentor programme.

Votes: 197

I will add a comment on this topic from the perspective of the young entrepreneur from a less developed economic country that makes the part of the European Union, namely Romania. I set up this StartUp 2.5 years ago and even got a European grant. I have tried to survive very hard to date. I'm a professional engineer in the field of renewable energy and I really liked this subject. That is why we also wanted to set up Start-Up for Green Energy. I managed to survive due to my affiliation with profile clusters and moving completely into a business incubator and coworking space. What I mean: If it was not for these affiliations and I could not resist, being a small company and at the beginning of the road I could not help myself. Immediately it will take me three years since I am a young entrepreneur, and I want to give my opinion on how it could be better for future entrepreneurs and implicitly for me if there might be some changes in this road. First of all, we must encourage young people who want to start a business, but let them explain that the very best way is to open up on a domain that they master, to create collaborations and to be open to internationalization. Generally, we have noticed that most companies that have access to internationalization are only those with very high capital and allow themselves to cross the border. But as the erasmus + program encourages exchanges of experience among young people, so small businesses - StartUps should be encouraged and supported. Well, for example at an international level, you can not take the lead as a small StartUp to an economic mission because no one gets caught up. Why ? Because you are young, you are at the beginning and you do not have the necessary capital mentioned above. I participated in economic missions in the world even in South Korea, but under the tutelage of an International Cluster, not a small StartUp. It is true that these exchanges and supportions are not now made even for all small businesses, for example, for breeding. But some start-ups in quite important areas globally need to be encouraged. I want to grow this start-up, I'm preparing myself as a specialty all the time. I have a few topics of interest that I have been constantly studying and studying, such as: Blue Economy, Global Objectives - Agenda 2030, etc. All these initiatives must be supported. I would suggest that a start-up be able to go into a practice like a bigger company, perhaps a multinational. A start-up is also part of a project, perhaps to offer some services to larger companies. Through these approaches, they can have a source of income and start-ups, lobby for multinational giants, develop a domain, and so on. Otherwise I do not see how we can develop this area of start-ups. What we do, we get the money, and then we shut the company down that we can not get some sources of income. At international level, start-ups must also be supported, they should also be part of research committees, etc. There is always talk of that silk road in Europe with Asia. Small businesses should also be encouraged to participate in these business lines. There are many things to discuss on this subject, but I wanted to present something I faced as a young entrepreneur. Thank you.
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Votes: 223

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Being a student with an aim of studying economics, I definitely believe that the strength of experience is undoubtedly more useful and essential than the knowledge we are taking throughout our books. EU should support us because we are the future of this planet and if we don't take the overall knowledge needed now, then our lives will steadily lead to decadence.EU can promote some competitions where the terms of collaboration, responsibility and entrepreneurship are used. Also EU can offer free guidance from experts ,conferences and scholarships as rewards .Consequently, students not only will they show interest in taking part in these competitions but they will also learn from an early age the difficulties and the obstacles of being in a business. Only in this way they will get prepared and eliminate the chances of failures.

Votes: 259

Young entrepreneurs often have great ideas but not so much knowledge how to make them work. Most important support is to educate them what are the opportunities. To let them know how incubators work and where to search for networks. They should be able to get mentor, providing feedback on their work, to improve the idea before launch but also to learn from mistakes. In some countries universities still teach only theory from the books, without much practice so students after graduation don't know how to use their degree and obtained knowledge on the real market. We shouldn't only learn theories and frameworks but how to actually use them in real cases, not to be afraid to try.
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Votes: 265

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