400 young entrepreneurs from around the world propose practical ideas to the G20 Leaders to help address the current economic crisis.
400 entrepreneurs of G20 countries, gathered at the G20 Young Entrepreneurs Summit YES summit in Nice, today officially called upon G20 Leaders to place entrepreneurship at the forefront of economic renewal.
Through the voice of their Chair, Grégoire Sentilhes, the G20 YES delegations leaders reminded that entrepreneurship is a critical engine for innovation, growth and employment, in particular for the youth, both in developing and mature countries. The G20 YES has identified more than 200 best practices successfully implemented by governments, associations and by the private sector to remove obstacles entrepreneurs are facing and strengthen the three pillars which are critical for boosting entrepreneurship: fertile “ecosystems”, specific financing vehicles for each stage of development, an entrepreneurial and risk taking culture.
The G20YES proposes the G20 leaders to recognize in their final statement the importance of supporting entrepreneurship as a vital solution to solve the current economic crisis. The G20YES also proposes the G20 leaders to engage a collaborative process with the governments to develop the “Entrepreneurs’ Declaration” and a pragmatic action plan to boost entrepreneurship within and across all G20 countries.
The Entrepreneurs’ Declaration would be based on five founding principles:
- G20 governments would recognize the socioeconomic role of entrepreneurship and the importance of encouraging the next generation of entrepreneurs and their role in terms of job creation;
- G20 governments would commit to implementing national and international policies that foster entrepreneurship and innovation;
- These policies would leverage traditional and nontraditional forms of capital (e.g. private savings and public guarantees, including from multilateral organizations) to support entrepreneurs as they found and grow their businesses;
- These policies would recognize and address the unprecedented demographic and economic challenges we face in all our nations, in particular youth unemployment;
- The proposed measures would encourage entrepreneurship within and across G20 countries without distorting the marketplace or fostering unfair competition.
“The G20 YES proposes to the G20 Leaders to immediately begin the process to develop an Action Plan for this Entrepreneurs’ Declaration for consideration at the next G20 Leaders’ Summit in Mexico. In the interim period, each local young entrepreneur organization will work with its government and B20 peers on the basis of the proposed framework to come up with actionable recommendations”, said Grégoire Sentilhes.