Meeting of IMF/ECB/EC with Confederation of Hellenic Associations of Young Entrepreneurs (OESYNE)

My name is Evangelos Achillopoulos head of the Technical Committee responsible for Institutional Interventions and Policy Proposals.

Agenda

Entrepreneurial Friendly Greece Competitiveness Access to Finance

Entrepreneurial Friendly Greece

1. For Limited Liability Companies & Societe Anonym Companies the Initial capital tax and the tax for capital increase, of 1% should be completely removed.

Entrepreneurial Friendly Greece

2. Balance Sheets and Announcements obligation to publish on Newspapers should be completely removed and substituted with obligation to publish on internet and kept for the records only Public Journal electronic publication with a minimum fee.

Entrepreneurial Friendly Greece

3. Bankruptcy law should be renew and be introduced exactly as it is in UK and Canada OR implement exactly the EC experts report recommendations of A second chance for entrepreneurs. In Greece debts to state are lifetime sentence even for the honest failed entrepreneur.

Entrepreneurial Friendly Greece

4. Completely remove the *Criminal Prosecution (not Civil) that leads in years to jail for self-employed and entrepreneurs that cant pay their own social security OAEE fees while they dont get neither medical services nor pension. *Note NO other self-employed in Greece get a Criminal Prosecution when they cant pay (Unis Engineers, Journalist, Doctors, Lawyers etc.) thus creates unfair business environment Also jail sentence for the honest unable to pay is against United Nations Human Rights Charta.

Entrepreneurial Friendly Greece

5. For self-employed and entrepreneurs we should have the German or the British model in OAEE social security whereas fees (and pension) are proportional to income. Lower income than ~7000 just pay a very small amount for annual medical service and they get the minimum national pension that everyone gets at 65.

Entrepreneurial Friendly Greece

6. For entrepreneurs that on their entrepreneurial lifetime while they had employ employers for at least 90man years and they didnt fall in mistakes (delay IKA payments, unsecured employment etc) to get a second bonus pension as an incentive from IKA proportional on their contribution in jobs creation.

Competitiveness
7. Labor *Incentives and extra productivity *Bonus payments to be relived by social security (IKA) additional cost by at least and these payments NOT to increase the 13 and 14 salary proportionally. Thus to allow Greek managers to work with management by objective methods without extra costs as everywhere in the western world. High IKA extra costs even on Bonuses cripples intra-enterprise competition thus degrades heavily general competitiveness footprint of Greek businesses. *Note that these extra awards are not used to calculate pension.

Competitiveness

8. Lawyers to be disconnected from the exclusivity they have by law for Patent filling in Greece and allow the EPO norm of Patent Professionals that are primarily scientists and NOT Lawyers. That is the reason why in Greece we dont have Patent Professionals experts (Patent Attorneys).

Competitiveness
9. Due to the lack of Community Patent, the costs of patent obtaining in EU is tremendous for Greek inventors, adding the liquidity problem to the equation we loosing our ideas by lack of funds. Add one program for Uni Students and Young Inventors up to 40 to get 50% ESPA grand for patent filling and a second program for all with 50% ESPA grand to the ones that were awarded with one of the three Triadic Patents of US, EPO or JPO to ease their costs.

Access to Finance

10. At ESPA programs include apart from Bank Guarantee the option for the applicant to use an asset (of 120% value) as Collateral Guarantee with a 1st or 2nd underwriting and without the obligation to have tax and IKA compliance paper. Release the underwriting only when entrepreneur finishes the investment AND provides the tax and IKA compliance document.

Access to Finance
11. For High Growth Exports oriented Innovative Startups and Spinoffs to employ under ETEAN a novel model of Participatory Entrepreneurial Assessment, Assistance and Funding (iDea Framework) in order to fast bypass all the entrepreneurial bottlenecks that the Greek ecosystem has today and allow our young generation to unleash its creativity and change the entrepreneurial mentality of Greece. http://www.idea.com.gr/i_landing_page.html