Final presentation after several days out of our confortable zone with my international team

1. Euroweek „Facing megatrends“
Aging Europe: Who will be the next generation of Entrepreuneurs
TEAM: Kamila Berdikulova
Birgit Eberhard
Alexandre Ferreira
Valentin Gauthier
Milana Kan
Annelies Rainer
Academic: Kristaps Lesinskis
Date: Wednesday, April 20.
13:30 pm
Room 2F10

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LATVIA
Milana & Kamila
LATVIA/UZBEKISTAN
Milana & Kamila
AUSTRIA
Annelies & Birgit
FRANCE
Valentin & Alexandre

3. WHAT DO THESE PEOPLE HAVE IN COMMON?

4. 428/11/2016R. Steiner / MR Disclosure or duplication without consent is prohibited
AND THESE…….

5. Who will be the next generation of entrepreneurs?
AGING SOCIETY…

6. 628/11/2016 R. Steiner / MR Disclosure or duplication without consent is prohibited
Aging Europe &
Consequences
Entrepreneurial
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5
AGENDA

7. • New venture creation involves a high level of uncertainty.
• Proportion of people aged above 64 is increasing 
requirements for retirement homes, health, social and wellness
services will rise
• Percentage of young entrepreneurs will rising
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INITIAL SITUATION

8. • Entrepreneurs in Latvia, Austria and Uzbekistan are becoming
younger.
• Increasing life expectancy results in venture creation involving
health, wellness and social services.
• Lack of starting capital is the main obstacle for young
entrepreneurs.
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WORKING HYPOTHESIS

9. • Goals
– Define how the aging megatrend influences on the entrepreneurial activities in
the countries.
– Define most attractive business sectors for young entrepreneurs.
– Create suggestions for encouragement of entrepreneurial activity of young
people.
• Methods
– Desk research
– Field research – Online survey
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GOALS/METHODS

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Aging Europe &
Consequences
Entrepreneurial
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5

11. • One in three children born after 2011 has a chance to survive their
100th birthday
• Life expectancy in EU-28 was 80,9 years in 2014 – increased by
7 % from 2005
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1. DEMOGRAFIC TREND
15.6 15.6 14.6 15.1
65.9 64.1
58.5 56.2
13.4 14.6
17.9 16.4
5.1 5.8 9 12.3
2014 2020 2040 2080
0-14 years 15-64 years 65-79 years 80+ years
Population structure in EU

12. • Older population structure
• Problem: Keeping older people healthy, independent and fulfilled
• Solution: New opportunities
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1. CONSEQUENCES

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Aging Europe &
Consequences
Entrepreneurial
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5

14. 1428/11/2016 R. Steiner / MR Disclosure or duplication without consent is prohibited
2. ENTREPRENEURSHIP
What are the characteristics of a
successful entrepreneur?

15. • Entrepreneur – person who starts a new business
• Entrepreneurship is a key to economic development
• Requirements and challenges
– Invaluable skill  personality
– Social capital: mentors and other business owners
– Special support from state
– Fast-adaptive, creative and flexible persons
– Administrative barriers and work-life balance
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2. CHARACTERISTICS

16. • Push factors
• Own boss
• Relize own ideas
• Better work-life balance
• Unemployment
• Higher Income prospects (Uzbekistan)
• Pull factors
• Financial support programs
• Acccess to free education and trainings
• Tax incentives
• Ease of administrative barriers
• General information
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2. PUSH AND PULL FACTORS

17. • IT
• Accounting services
• Business consulting
• Technical research
• (Home) Health care
• Social Services
1728/11/2016 Forbes, 2013
2. ATTRACTIVE BUSINESS SECTORS

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Aging Europe &
Consequences
Entrepreneurial
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5

19. Austria

20. Life expectancy is 81 and retirement age is 62.
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3. AUSTRIA – Aging Society

21. France

22. Life expectancy is 82 and retirement age is 65.
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3. FRANCE – Aging Society

23. • Reduction of kindergartens and schools
• Increasing requirements of elder people care and elder houses
• Support programs:
– Regional Promotion – low interest loans, grants, guarantees
– Technology Promotion
– Environmental support programs
– Free education - no university tuitions/ scholarships
– Expert talks, networks and etc.
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3. AUSTRIA/FRANCE Consequences for Entrepreneurs

24. Latvia

25. Life expectancy is 74 and retirement age is 62.
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3. LATVIA – Aging Society

26. • High level of migration of young people
• Improvement of the health care services for adults
• Business people used to live on a short budget
• Support programs:
– Investment and Development Agency – couchings
– European Information Centers – network within the EU
– Business and Innovation Centres – support industrial entreprises
– Gate2Growth Initiative – Financial support programs for EU
– Governmental scholarships
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3. LATVIA – Consequences for Entrepreneurship

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UZBEKISTAN

28. UZBEKISTAN

29. Life expectancy is 68 and retirement age is 60.
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3. UZBEKISTAN – Aging Society

30. • No aging of society within next decade.
• Lack of study places in higher educational institutions and job
opportunities
• Expansion of private business has contributed a lot to a country‘s
economy
• Support programs:
– Associations for each business sectors to support entrepreneurial
activity
– Business forums
– Chamber of Commodity
– Business Women Association
– Governmental scholarships
– Tax reliefs, private investors and etc.
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3. UZBEKISTAN – Consequences for Entrepreneurship

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Aging Europe &
Consequences
Entrepreneurial
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5

32. • Quantitative online survey
• Students between 18 to 30 in Austria, France, Latvia and
Uzbekistan
• 48 answered questionairs
• Aim: General attitude of students
towards entrepreneurship
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4. ONLINE QUESTIONNAIR

33. • “Entrepreneurs in Austria, Latvia are becoming younger”
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4. WORKING HYPOTHESIS
18 to 34 years
44.3%
others
55.7%
2014
18 to 34 years
26.6%
others
73.4%
2007
18 to 34 years
59.0%
others
41.0%
2013
18 to 34 years
57.0%
others
43.0%
2010
Austria
Latvia

34. • “Increasing life expectancy results in venture creation involving
health, wellness, social services.”
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4. WORKING HYPOTHESIS

35. • Lack of starting capital is the main obstacle for young
entrepreneurs.
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4. WORKING HYPOTHESIS

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Aging Europe &
Consequences
Entrepreneural
Activities
Country Specific
Analysis
Survey Analysis
1 2 3 4
Future Outlook
5

37. Inhabitants (in mln) GDP per capita (in
USD)
Pension age
(years)
Life expectancy
(years)
Austria 8.6 49,670 62 81
France 66.21 42,960 65 82
Latvia 2.2 15,280 62 74
Uzbekistan 30.6 2,090 60 68
5. SUMMARY

38. • Aging of society and entrepreneurship
1. Risk avoidance vs. risk taking
• Country analysis
1. Three types of countries
2. Different conditions, different problems
• General characteristics of entrepreneur
1. Younger age
2. 0-5 years working experience
3. Government support is required
4. More digitalized generation
5. SUMMARY

39. • Young population is decreasing
 Entrepreneurs are decreasing
• Old population is increasing
 Target market is changing
• Change of time
Different lifestyle
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5. FUTURE Predictions

40. Austria France Uzbekistan
Austria 13 22 4
France 21 12 6
Uzbekistan 5 5 29
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5. Quiz Monday, April 18 Project shopping
39 Participants

41. Austria France Uzbekistan
Austria 13 22 4
France 21 12 6
Uzbekistan 5 5 29
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5. Quiz Monday, April 18 Project shopping
39 Participants
11 right answers

42. • Sources for Statistics:
• World bank
• WKO
• european commissions
• eurostat
• Forbes
• central statistical of latvia
• Asian devellopement Bank
• Wrike inc.
• Books and Papers
• Chand; Smriti, Entrepreneurship: Characteristics, Importance, Types, and Functions of
Entrepreneurship, in Your Articel Library
• Gregoire, Waylae; New Report Reveals Fascinating Statistics About Entrepreneurs,
• Schmalzer; Wenzel; Mahajan; Penz; Report Austria, GME, Global Entrepreneurship Monitor
• The Entrepreneur and Entrepreneurship: Operational definitions of their role in society. Robert B.
Carton, Charles W. Hofer, Michael D.
• Defining entrepreneurship. Barton Cunningham and Joe Lischeron.
• Swenson, Barbara; Entrepreneurs Are Starting Out Younger Than Ever, and Heres Why, in Starting a
Business, all Business, 2016
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Sources

43. QUESTIONS