Turmoil in Greece: Could Entrepreneurs Save Europe’s Economy?

Ongoing problems in Greece, including a growing movement to reject massive spending cuts some see as forced upon the country in return for international aid, could further threaten economic recovery for the European Union. Meanwhile, some in Europe see entrepreneurship as one solution for getting local economies back on track. Here’s a look at what’s happening in the EU and some tips for starting and growing a business there or anywhere.

EU Crisis and Solution

Recent Greek elections threaten to further unravel EU. 37-year-old Alexis Tsipras’s stunning success in last month’s elections heightens tensions between the struggling nation and the rest of the EU. With the choice between austerity and pressure to renegotiate debt, is there a third path forward for Europe’s economy? Bloomberg Businessweek

UK is betting on entrepreneurs for growth? Britain hopes young entrepreneurs can help economic recovery, and is promoting a program to boost their efforts. A Startup Loans program will lend up to £82.5 million to entrepreneurs between the ages of 18 and 24 over the next three years.  The Globe and Mail

Do European regulations keep small businesses too small? At an informal summit in Brussels last week, leaders meeting over the euro crisis agreed to aid small business with increased credit from the European Investment Bank. But do tight business regulations do too much to restrict small business growth, making it difficult for entrepreneurs to flourish. The Wall Street Journal

What EU Entrepreneurs Should Know

Seeking small business assets in Europe? Hong Kong-based private equity firm First Eastern Investment Group is selling small business assets at fire sale prices, thanks to the EU debt crisis. On the positive side of the financial difficulties in Europe are the opportunities they create. The time to invest in European business may be here for those positioned to make the move.  CNBC

How to start a business in Europe. The European Commission’s Directorate General for Enterprise and Industry maintains a Website with some guidelines for those interested in getting started in business in any of the European member states. Here is what the Website suggests for becoming a European entrepreneur. Europa.eu

Starting your business from scratch. You can start small when creating a business no matter where you may be. Take Margaret Smith, a shy, stay-at-home mom from County Cork, Ireland, who transformed herself into an entrepreneur by founding UmNumNum boutique cookery school. TweakYourBiz

Grow Your Business Anywhere

Meeting the challenge of multicultural groups. One challenge you are likely to face, whether starting a business in the EU or elsewhere, is that success may hinge upon leading teams with multiple cultural backgrounds. Watch the video from Anne Edmondson, Harvard Business School professor, about leading a multicultural team. Catarina’s Team

What the smallest businesses can learn from the largest. Some small businesses can become big businesses over time. While small companies certainly have different considerations than the Googles of this world, simple ideas like focusing on the customer and filling a need are concepts any size business can embrace. USA Today

Stretching your startup funds. No matter where you’re trying to start a business, some basic rules apply. One of your greatest challenges will almost always be doing more with less. Business blogger Ben Lang has some important tips for entrepreneurs everywhere to consider for starting and growing a business. Here’s more…  Forbes


Joshua Sophy Joshua Sophy is the Editor for Small Business Trends and has been a member of the team for 16 years. A professional journalist with 20 years of experience in traditional media and online media, he attended Waynesburg University and is a member of the Society of Professional Journalists. He has held roles of reporter, editor and publisher, having founded his own local newspaper, the Pottsville Free Press.