Should we be concerned about the economic growth? Yes, and we should finally do something about it!
I just met couple of interims managers and we all wondered that the interest rates are really low and central banks have flooded commercial banks with money. However, it is not easily available for SMEs. SMEs in Europe are feeling the lackluster economic growth.
Here would be my program to get back on track:
- Cut income taxes
- Cut VAT rate
- Reduce administration costs on government and municipal level
- Reduce government control on SMEs, paperwork reduced to minimum
- Facilitate SME access to government funded research projects
I know this would put pressure on government officials to find a value adding job. And at first they would feel most of the pain. After a while, once the economy turns into a growth mode they would get jobs on the private sector.
Change is difficult and you have to endure the pain for a while. This goes for economy as well.
Would I vote for this program. Yes, I would for the sake of economic growth and future generations.