The Official G20 YEA Summit 2017 Publication G20 YEA Businesses
tax incentives should be created for young entrepreneurs, not only to start a business and generate profits, but also to create jobs as quickly as possible.
› This is why the G20 YEA calls for both academic and secondary (university) education to be expanded by means of focus on the skills required for entrepreneurs. And through support like practical entrepreneurial activities such as school or university start-ups, the students could try out their future company during their education and training. Provide financial support for partnerships Of course, resources of all kinds are required. For this reason, another priority presented by the G20 YEA is to enhance the financial support for partnerships between university incubators and accelerators and the private sector. In this way, resources at universities can be utilized by young companies and innovations created at the universities can be introduced to existing companies. Allow making connections and providing information After the foundation, one of the most important phases for a company is expansion and scaling. In this phase, an online platform, supported by the G20 countries, for establishing contacts, fostering cultural exchange and creating opportunities for cooperation would be very helpful in order to access customers and employees worldwide. And it would also be helpful to provide the necessary basic information for starting and running a company in the G20 countries, example on the prerequisites for company foundations, on taxation, on important regulations or on the use of employees. Provide digital infrastructure Since young entrepreneurs are constantly online and many business models require mobile accessibility, a functioning digital infrastructure is essential. This must be available without interference by means of high-speed Internet lines. At the same time it must be costeffective. The G20 YEA therefore calls on the G20 countries to develop a 5G network in all G20 countries in the next five years to enable an uninterrupted participation in global digital networking. Create a visa program for entrepreneurs As described above, it is particularly 20 g20g7.com
Strengthen the protection of intellectual property Last but not least, it should not be forgotten that there are still different legal configurations in the individual G20 countries with regards to the protection of intellectual property. Often, however, the potential of a company lies in its initial idea, so that the protection of intellectual property is of particular importance. Here, the G20 YEA calls for the closure of existing gaps in the individual G20 countries with regards to IP protection in order to ensure a G20-wide uniform protection level. important for young entrepreneurs to be in contact with customers, investors and potential employees worldwide. For this reason, strengthening the access and the presence for young entrepreneurs in their identified target markets is a particular concern of the G20 YEA. It therefore calls for a special visa program for entrepreneurs in the G20 countries, which allows young entrepreneurs not only to enter a G20 country with as little difficulties as possible, but also let them set up and develop its company there. Reduce bureaucracy In this context, the sometimeslengthy prerequisites for setting up a company or its continuation in some countries pose challenges for young entrepreneurs. The G20 YEA therefore calls for the implementation of structural and legal reforms with the aim of reducing bureaucracy and concomitant with cost reductions. Overriding bureaucracy is the greatest obstacle to cross-border activities. The G20 YEA therefore specifically calls on the governments of the G20 countries to enable the citizens of a G20 country to establish and register a company in another G20 country within a few days, and if possible without the help of consultants or special professions. Provide tax incentives Since the creation of a company is often associated with the creation of new jobs,
Young entrepreneurship is global Young entrepreneurs are innovative, have the willingness to take calculated risks and will not stop the implementation of their business ideas because of national borders. They also create jobs that are urgently required by using the opportunities of an interconnected world. However, a variety of obstacles slow down their entrepreneurial ambitions, often resulting from “thinking in national borders.” What is needed instead is a viewpoint that goes away from “it is enough for our country” to one resembling “how could we do better to respond to global competition”. The G20 YEA is ready to tackle the issue of how cross-border entrepreneurship can be strengthened: it has proposed recommendations and solutions to the G20 governments and leaders in the past and it will continue to do so in the future. ■ Carsten Lexa is the President of G20 YEA Germany and the host of the German 2017 Berlin Summit. A corporate lawyer by profession and equipped with his own law firm, he advises international clients, who want to do business in Germany, in corporate and commercial legal matters. He is, by invitation of the European Commission, a participant in the annual SME Assembly. He is also a member of the B20 Task Forces and since 2014 a member of the national board of JCI Germany (WJD - Wirtschaftsjunioren Deutschland), Germany´s biggest organization for young leaders and entrepreneurs. He can be reached via e-mail (g20yea@kanzlei-lexa.de), Facebook (facebook.com/kanzlei.lexa), Twitter (twitter.com (kanzlei_lexa) and LinkedIn (linkedin.com/carstenlexa).