#PWC Chair in Digital Economy

[lodelcar]

IMPROVEMENT OF WOMEN ENTREPRENEURSHIP

Picture: Belgian woman entrepreneur explains her goals & perspectives, realisations, strategy, working conditions, network to interested Turkish audience in Brussels, CoR

1. Entrepreneurs are entrepreneurs, whatever their gender

The statement made above should be obvious. Economy is a universal principle and starting up and running a business is a competence that is not given to everyone. So: those who have the courage and perseverance to start and run a business should be supported and admired whether they are male or female. If business leaders still choose to expand their business and recruit staff and treat and reward them properly, they should be cherished by society, whether they are men or women. This is the theory; in practice things prove to be very different. Women all over the world still have to overcome obstacles that are almost absurd if they feel the entrepreneurial blood tickle. As a result, in a country such as Belgium, which nevertheless belongs to the OECD, only 1 / 3rd of the entrepreneurs are women. As a result, in most OECD countries, women-led companies find it much more difficult to get loans or venture capital than companies run by men. After all, 94% of the investors are men, which means that female entrepreneurs attract only 2% of the venture capital.[1]   The fact that it is mainly prejudices that play tricks on women is proven by the fact that women are much more likely to have crowdfunding. A context that is much less dominated by men and where women often achieve better results than men. According to research from PwC, 22% of the crowdfunding campaigns led by women achieve the stated goal, compared to 17% of the campaigns led by men.[2]

But are the differences between male and female entrepreneurs so different? American research by Illuminate Ventures, a fund that invests in tech companies and has an eye for but is not limited to start-ups with female founders, teaches us that there are more similarities between male and female entrepreneurs than generally assumed. Women entrepreneurs are no more risk averse than men and are also not inhibited more than men (on the contrary even) by the lack of financial security. The ambition to develop a company on a global scale scores equally low with both groups. [3]

In 2017, a study “Women’s empowerment in the Mediterranean Region” was ordered by the ARLEM[4] network and drafted by CASE – Center for Social and Economic Research, covered the European Union southern neighbouring partner countries and some other countries comprised by the ARLEM network. The focus of the report was specifically on how regional and local governments can play a role in empowering women and challenging social norms that impede women’s progress in society and how the European Union and the Union for the Mediterranean can support and facilitate that process. The study’s main findings can be resumed as follows[5]:

The International Labour Organisation reports shows that globally women represent around 24% of all employers in all regions except the Middle East and North Africa where they are around 6%.

Women entrepreneurs in the Southern Mediterranean face significantly more challenges than their European counterparts.

If we deepen out these statistics towards the Turkish context, we can deliver the following statements:

According to TurkStats, the labour participation rate among women is only 31.5%, while in the European Union it is 51.3%, on average.

Nevertheless, female participation has increased to 50% in the country's urban areas - an increase fueled primarily by university-educated women.[6]

 2. Why are women entrepreneurs  interesting in the economic process?

Women entrepreneurs offer many advantages. After all, women go bankrupt much less quickly, because they have prepared their business plan more thoroughly and also because they (dare to) take fewer risks. Women entrepreneurs also have a number of human skills, such as empathy, cooperation and creativity.[7]  The American company Boston Consulting Group calculated that female startups raised 78 cents per invested dollar compared to less than half (31 cents) for "male".[8]

Female leadership is on the rise in Europe. In 2019, the Belgian organisation “Women on Board”[9] conducted a study together with the marketing research agency Profacts in which 80 percent of the Belgians say that if they start a business tomorrow, they would opt for a Board of Directors with as many women as men. 60 percent think a Board of Management without women is outrageous. In five areas, according to the Belgians, Boards of Directors with a third women distinguish themselves through a strong long-term vision, long-term sustainability, consideration of climate impact, better relationships with social partners and a clear diversity policy.[10]

These last years, people have started to find women more competent, intelligent, emotional and social, but not more ambitious, decisive and aggressive. This appears in an analysis of sixteen opinion polls from the period 1946 -2018, in which representative samples of a total of more than 30,000 American adults had indicated whether certain character traits are more prevalent among men or more among women. The research was published in July 2019 in the scientific journal American Psychologist [11].  The authors  looked at three clusters of qualities requested in the surveys. "Intelligent", for example, with "creative" and "organized" fell under the competence-related characteristics. Socio-emotional characteristics were, for example, "emotional", "honest" and "warm". And then there is the cluster that the psychologists identify with the word agency: properties such as "decisive," "arrogant," and "aggressive," related to goal achievement and power. Interestingly, people have started to find women more competent, but have not attributed more agency to women, and did not find women even more social.  Perhaps women are more intrinsically social than men and men have more intrinsic agency by nature. But another  way of appreciating these elements could be that perhaps social norms push them in a certain direction, away from jobs that require qualities that are typical of the opposite sex.[12]

3. Typology of female entrepreneurs

The international consultancy firm Ernst & Young organizes an annual academy for promising female entrepreneurs from all over Europe. The description of the profiles of all participants can be found on the internet.[13]  From the description of the 54 candidates for 2016, 2017 and 2018, many conclusions can be drawn, both about the studies they did, the sectors in which they started their companies, whether they are active regionally, nationally or internationally and whether they are alone or with a partner when they started up their company.

Most of the female entrepreneurs have a master’s degree, some of them even a PhD. Of the 54 companies that are included in the academy, 8 are with two female partners. Some also have a male partner: husband, brother or fellow student. Several of the female entrepreneurs also belong to an entrepreneurial family and have continued the business of their parents, or have received financial and logistical support from the family when they started up or took over an existing company. About half of the start-ups work regionally, with one or a few stores or developed a consultancy company that has a regional impact. The other half is already working nationally or internationally, often out of necessity because the market in which they operate contains too few potential customers regionally. It is striking that among the 54 companies described, the female managers are very active in networks, by chairing professional associations or by other activities in which they can expand their network and introduce their customers. With regard to the sectors in which women entrepreneurs are active, it is noticeable that few women have found their way into traditional heavy industry or construction, with some notable exceptions. Many have been creative and have found themselves a niche in services such as marketing and market analysis, baby sitting, home & decor, groceries and gardening, recreation parks, education & didactics, risk management for the healthcare sector etc. In addition, they are active in typically female professions such as creation of lingerie, hair products, organic raw food bar, vegan shops, silk development, wedding clothing, organic cotton development, HR etc. And then there is, of course, the full range of ICT developments such as apps for care centers, for local nightlife, ordering or catering; cyber security, fintech, etc. An example among many is the Portuguese Susana Sargento. This entrepreneur, scientific researcher and professor at the University of Aveiro created in 2012 the technological Veniam together with João Barros, University of Porto. The company develops technology that enables the linking of cars to networks, turning them into Internet access points and collecting information on vehicles, for example to enable better management of traffic or public transport networks.[14]

It is also remarkable that in the list of companies that focus on the circular economy in Flanders, Belgium, we also have found very many female entrepreneurs active. For example, we find in the list a matchmaker between second-hand baby stuff and parents in school, Subscribe to children's clothing, an artisan who is able to recycle everyday materials into something new that looks professional and equally sophisticated, etc.[15]

The Brussels training center Interface 3, which we mentioned earlier, also set up an initiative with similar training centres in Europe called All Digital and which is supported by the EU. In October 2010, All Digital was formed into an AISBL (International Nonprofit Association) with the name Telecentre Europe and has taken up residence at Interface3's headquarters. New information and communication technologies represent a bridge to economic and social development. The mission of the All Digital network is to help its members improve their effectiveness and increase their impact through the exchange of information, knowledge and best practices. 30,000 Digital Public Spaces in 33 European countries and ten non-European countries are members of All Digital.[16]

4.       How are women supported in their development as entrepreneurs?

Governments often undertake to encourage female entrepreneurship. In addition, cities and regional governments go further and deeper than national governments. After all, they are closer to the entrepreneurs and see the usefulness of their companies for the region more clearly.

The EU supports initiatives combatting inequality and poverty in the framework of its regional development policy. We already introduced the study ordered by the Euro-Mediterranean Regional and Local Assembly (ARLEM) network. A series of recommendations have been delivered through the study, emphasising the following items[17]:

Access to education and training is absolutely essential for the empowerment of girls and women. The education gap between men and women is closing in South and Eastern Med Countries. However, there are still inequalities, particularly in rural areas.

Regional and local governments have a central role to play in both formal and informal education at local level.

Compensatory/second chance education programmes should be available to young women who missed out on formal schooling in both urban and rural areas. EU funded projects could provide valuable assistance in this regard.

The importance of micro-credits as tool for empowerment women in business should further be exploited.

The balanced participation of men and women in decision-making structures is a sine qua non of a democratic society. A number of Southern Mediterranean countries are now operating quota systems for women, particularly, in local government.

The role of women in the cultural sphere can be very positive especially at local level. New technologies and innovative practices such as digitization and social media continue to open up new opportunities for creatives within this sphere.

Women and particularly women refugees from Southern and Eastern Mediterranean countries can play a leading role in the development of the cultural economy with assistance and coordination, from regional and local Authorities.

The potential of the digital world should be further explored in this field in order to give access to content to the maximum number of women and girls.

The ARLEM community has organised also for the first time an ARLEM AWARD. The purpose of the award is to reward a young entrepreneur at local level from a Mediterranean partner country where the youth unemployment is a big problem, as well as the Mayor/President of Region who promoted his/her entrepreneurship. Initiatives from all South Mediterranean countries members of ARLEM can take part in the competition. Women and men are equally invited to introduce their projects. This attitude confirms my opening statement: Entrepreneurs are entrepreneurs, whatever their gender

The EU attributes also awards during the EU Week for Regions and Cities. They are indicated by the name “RegioStars”. One of the candidates for the RegioStars Award 2019[18] is the Irish WISE Project. WISE (Women's Integrated Skills & Employment) is a project running in Donegal, helping ladies return to employment, education or self-employment. There are dedicated Employment Advisers who provide the following services, CV building, cover letter & interview skills, job brokering, access to employment and educational opportunities, self-employment guidance, support confidence and motivational building and development opportunities. With funding available for short-term accredited courses.[19] The project, run by  People 1st Employment and Skills is funded for almost 300.000 € by the European Social Fund.

In Sweden the Swedish Agency for Economic and Regional Growth, was tasked by the Swedish Government to promote women’s entrepreneurship in the period 2007–2014. This decision came as a result of a study revealing that conditions for entrepreneurship are not equal for women and men who wants to start, run, lead and develop a business.[20]

In an article on the Blog Ochimusya Drive, we find an ode to the way that Sweden encourages female entrepreneurship, even if the entrepreneurs in question are not of Swedish origin, but tried to build a new life in Sweden. The author cites a Femtech start-up weekend in which 76 women having different backgrounds such as business / marketing design / UX or programming joined this event in order to work on their ideas and turn them into reality as teams.[21]

In Belgium, female entrepreneurship is supported both regionally and nationally. A national "Plan for the promotion of female entrepreneurship" encouraged valuable initiatives from regional non-profit organizations to propose projects. For example, the well-known non-profit organization Markant submitted the OnderneemstersDUET project. OnderneemstersDUET wants to bridge the difficult initial period of entrepreneurship among recently started women. They get a strong female role model as a personal mentor. Mentee and mentor form a nice "duet" for 1 year. Afterwards, the mentee needs to feel more motivated to manage her business in a solid way. In the course of the project, an eco-system between mentors and mentees is developed through various events, and the practical cases are published.[22] The Brussels non-profit organization H.E.R.O. pour le réseau Wowo received financial support for the WonderFullWomen project. WonderFullWomen is a project structured around the 5 instruments to promote female entrepreneurship: a mentoring program, a coaching program, inspiring TV clips, the only paper magazine intended for female entrepreneurs and events. The WonderFullWomen want to be a source of inspiration but also get inspiration to do business.[23]

In Germany, women entrepreneurs are supported in various ways by the regional authorities through the non-profit organization “Frauen Unternehmen” (WOMEN business). They organize in the first place the "Vorbild-Unternehmerinnen" (= Model Entrepreneurs). More than 160 role model women entrepreneurs are already supporting the "WOMEN business" initiative.[24] In addition, the same non-profit organization also organizes "Multiplikatorinnen & NetzwerkpartnerInnen" (=Female multiplicators and female network partners). In this specific project the Model Entrepreneurs work as volunteers  

with schoolgirls, they playfully explore what it's like to be your own boss, for example during class visits, as part of project weeks, career orientation days or at the annual Girls'Day. They support founder plan games or the foundation of student companies.

with students and graduates they show that entrepreneurial independence is an attractive career option, for example by attending podium discussions, workshops and career days.

They support business plan seminars, entrepreneurship competitions or are individually prepared as mentors. The Model Entrepreneurs participate also in regional events to inform women interested in founding a company about the advantages and challenges of self-employment. The events include, for example, female entrepreneurial tables, a series of events of the chambers of commerce and of municipalities or career and founding fairs. In employment agencies they operate in “question and answer" sessions  to show women new job and life perspectives in their career orientation.

Yet there are also numerous private initiatives. In Portugal we name the Chicas Poderosas movement, a project that was born in Latin America and whose mission is to give women skills related to technology that has spread worldwide. The Portuguese Mariana Santos is its founder. She is still the CEO of Unicorn Interactive, a digital content startup.[25]. In the UK Veronica Costache, originary from Romania, has an advertising company RoComm. A part from that she also enables and coaches her fellow countrywomen to develop their lives, especially when it comes to entrepreneurship, under the umbrella organisation Romanian women in the U.K. [26]

5.       Women entrepreneurs: an asset for regional development

Stimulating women towards entrepreneurship is primarily a regional matter. The circumstances may vary considerably from region to region. The economic situation is sometimes so positive that companies are begging for employees and that women are being driven to work in a natural way, without their husband's resistance.  In other circumstances, there is so little work that men leave to look for work. Women stay behind and have to take care of themselves without a good education. Enterprising women will still try to start a mini-company, often at home, in order to stimulate the education of children and the creation of income. Local governments should therefore integrate vocational training programmes for women into local economic development strategies, so that training is related to labour market opportunities.

Women have more modest goals and often opt for entrepreneurship to better combine work and children. In addition, many women deliberately keep their business small, so that they can avoid certain issues that come up with more personnel, such as employment law and management issues.[27] This does not necessarily have to be a disadvantage, on the contrary. Small-scale initiatives can be supported to grow gradually and are also more connected to a region. Cities and regions can support this dynamic by educating women, offering them financial guarantees and grouping them in associations.

In Romania, the regional option is reflected in the way the n.g.o. for the promotion of female entrepreneurship is organized: CONAF[28] is a confederation of provincial and local organizations. Every local association is supported by local entrepreneurs who spend part of their time promoting entrepreneurship and guiding women who want to set up a business. The Braşov division is led by Silvia-Daniela Pohrib, who, in addition to her accounting office, also conducts entrepreneurship courses for young people within the n.g.o. Mentalio and coaches women in their entrepreneurship.

In Turkey, the approach has to differ definitely when it comes to remote rural areas, such as the city of Erzincan, we are working with. Although the main cities have a strong participation degree of women in their economic life and labour structure, this cannot be said for remote areas such as Erzincan. There is a reluctance from men that women should lead a business and will not be at home for the children. However, when it comes to farm work, most labour is done by women nowadays. But they idea that an income is generated separately, calls for opposition. Moreover, the educated people from the city systematically fled because of the lack of labour opportunities. It is therefore not enough to train women but also to influence society about the role of women entrepreneurs in society. [29]

Women are not only encouraged to become entrepreneurs, but also to acquire competences that until recently were considered to be a matter for men. In most European countries, the proportion of women in the computer industry is below 20%. As for the proportion of young women enrolled in higher education courses in computer science, it is currently below 10%, all regions and all levels combined. In Brussels, an Adult Education Centre has been in existence since 1988 that focuses exclusively on women and focuses exclusively on introducing women into ICT and digital competences. The Centre is called Interface 3. This non-profit association is recognized and supported by many private and institutional partners for the quality and innovative nature of its training. Each year nearly 400 women job seekers undergo training, short or long, initiation or specialization. The insertion rate at the end of qualifying training is 70%! The Interface3 training courses are designed for women wishing to integrate into professional life, to reintegrate themselves or to reorient themselves towards promising sectors (job-seeking women, long-term unemployed women, "returning" women). These programs focus on ICT but also on other requirements of today's professions: project management, language skills, ...[30]

Earlier in the article, we will also provide a series of examples of how cities and regions are often engaged by higher authorities to use funds to promote female entrepreneurship as efficiently as possible. They in turn often work together with civil society organizations, in the West European sense of the word.

6.       Encourage women entrepreneurs

The fact that a woman, Ursula von der Leyen, was proposed to lead the European Commission and that another woman, Christine Lagarde, was nominated to become President of the European Central Bank, shows that European male politicians realize that there are talents available who are unused until now and who deal with leadership in a different way. And that a choice for women can have positive effects on the further development of the European Union.

Studies have sufficiently demonstrated that women are just as good entrepreneurs as men and that by excluding them a lot of potential for job creation is lost. In many countries, policymakers have understood that women entrepreneurs not only create small businesses to support their families and escape the poverty trap, but because they have valuable ideas and view business and employment differently than men. The fact that they are often disapproved in conservative circles with the fallacy that they will never be able to combine their family duties with their entrepreneurship is being refuted by the facts in many countries. Women not only have the right to remunerated work because it is important for their self-deployment and self-conscience. Women can be both good mothers and good entrepreneurs. They must, however, be supported and not left to their fate. In the first place in the family circle.

The fact that female entrepreneurship is actively promoted and supported in many continents, countries and regions is based on the positive effects that female entrepreneurship can have on a family, municipality or region: they are reliable and productive, they are good with money, they are efficient distributors of goods and services within the household[31].

Louis Delcart, board member EAR-AER, www.ear-aer.eu

This article regroups the first conclusions from a project in the framework of Supporting Civil Society Dialogue Between the EU and Turkey, that the European Academy of the Regions is implementing in collaboration with Ersiad Ankara between September 2019 and April 2020. It has been presented as a speech in Ankara on December 6th 2019.

[1] DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019, https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers/

[2] Wanneer vallen barrières voor vrouwelijke ondernemers weg? 16-10-2018 in MT.be, https://www.mt.be/business/wanneer-vallen-barrieres-voor-vrouwelijke-ondernemers-weg/6818

[3]Wanneer vallen barrières voor vrouwelijke ondernemers weg? (When will barriers for female entrepreneurs disappear?) 16-10-2018 in MT.be, https://www.tijd.be/opinie/column/weg-met-vooroordelen-tegen-vrouwelijke-ondernemers/10038347.html

[4] Euro-Mediterranean Regional and Local Assembly

[5] Simona LIVIDEANU, Contribution of the European Committee of the Regions to empowerment of the women in the Mediterranean Region, presentation European Committee of the Regions, dd. 15-11-2019

[6] source World Bank

[7] DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019, https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers/

[8] Wanneer vallen barrières voor vrouwelijke ondernemers weg? (When will barriers for female entrepreneurs disappear?) 16-10-2018 in MT.be, https://www.tijd.be/opinie/column/weg-met-vooroordelen-tegen-vrouwelijke-ondernemers/10038347.html

[9] The Belgian non-profit organization "Women on board" ‘s main objective is to create a "pool" of talented women that can take mandates on boards of directors. Today the organization has 293 members.

[10] Françoise Roels, Vrouwelijk leiderschap is bezig aan een Europese opmars (Female leadership is on the rise in Europe) in: VRT Nws, 4-7-2019 https://www.vrt.be/vrtnws/nl/2019/07/04/vrouwelijk-leiderschap-is-bezig-aan-een-europese-opmars/

[11] Alice Eagly, PhD, Northwestern University; Christa Nater, MSc, Michèle Kaufmann, PhD; Sabine Sczesny, PhD, University of Bern; David Miller, PhD, American Institutes for Research: Gender Stereotypes Have Changed: A Cross-Temporal Meta-Analysis of U.S. Public Opinion Polls From 1946 to 2018, American Psychologist, published online July 18, 2019.

[12] Ellen de Bruin in: Vrouwen zijn slimmer, mannen bereiken meer  (Women are smarter, men achieve more), - de Standaard Avond, 9-8-2019

[13] EY - Entrepreneurial Winning Women Europe Class of 2016, Helping outstanding women entrepreneurs think big and grow rapidly, https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2016; https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2017; https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2018

[14] 5 mulheres empreendedoras portuguesas que deves conhecer (5 Portuguese women entrepreneurs that you should know), in Universia Portugal, 25 de Junho de 2018  , https://noticias.universia.pt/emprego/noticia/2018/06/25/1160164/5-mulheres-empreendedoras-portuguesas-deves-conhecer.html

[15] Louis Delcart: Waste management and circular economy in Flanders – Belgium, in blog “Principles of Regional Approach” , 9-12-2018, https://lodelcar.tumblr.com/post/180955829970/waste-management-and-circular-economy-in-flanders

[16] All Digital: l’accès aux TIC pour tous (All Digital: Access to ICT for everyone), https://www.interface3.be/fr/text/all-digital

[17] Simona LIVIDEANU, Contribution of the European Committee of the Regions to empowerment of the women in the Mediterranean Region, presentation European Committee of the Regions, dd. 15-11-2019

[18] https://ec.europa.eu/regional_policy/en/regio-stars-awards/#1

[19] https://ec.europa.eu/regional_policy/en/regio-stars-awards/2019/finalist?r=wise-project

[20] Swedish Agency for Economic and Regional Growth: Women's entrepreneurship, 5-7-2018 https://tillvaxtverket.se/english/womens-entrepreneurship.html

[21] Ochymusya, How female entrepreneurs are active in Sweden, posted 2/10/2017, https://ochimusyadrive.com/how-female-entrepreneurs-are-active-in-sweden/

[22] Plan ter promotie van het vrouwelijke ondernemerschap (Plan to promote female entrepreneurship), on website of Federal Ministry of Economy Belgium, 8-3-2019 https://economie.fgov.be/nl/themas/ondernemingen/een-onderneming-beheren-en/promotie-van-het/plan-ter-promotie-van-het

[23] Plan ter promotie van het vrouwelijke ondernemerschap (Plan to promote female entrepreneurship), on website of Federal Ministry of Economy Belgium, 8-3-2019,  https://economie.fgov.be/nl/themas/ondernemingen/een-onderneming-beheren-en/promotie-van-het/plan-ter-promotie-van-het

[24] https://www.existenzgruenderinnen.de/DE/Vernetzung/Frauen-unternehmen/MultiplikatorInnen/MultiplikatorInnen_node.html;jsessionid=69525D6284CDA6F6773BDA9104E3CA9D

[25] 5 mulheres empreendedoras portuguesas que deves conhecer (5 Portuguese women entrepreneurs that you should know) in Universia Portugal, 25-6-2018, https://noticias.universia.pt/emprego/noticia/2018/06/25/1160164/5-mulheres-empreendedoras-portuguesas-deves-conhecer.html

[26] both organisations are on Facebook

[27] DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019, https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers/

[28] CONAF = Confederaţia Natională pentre Antreprenorat Feminin

[29] Louis Delcart, Supporting Civil Society Dialogue Between the EU and Turkey, “Improvement of Women Entrepreneurship with the EU”, internal report of Brussels visit dd.14-15/11/2019  

[30] Interface 3: Centre de formation bruxellois pour femmes en recherche d’emploi (Interface 3 : Brussels’ training centre for women in search of employment) https://www.interface3.be/fr/interface3

[31] Dr. Sarah Bradshaw, Dr. Joshua Castellino, Ms. Bineta Diop: Women’s role in economic development: Overcoming the constraints, Sustainable Development Solution Network, UN, 20-5-2013  http://unsdsn.org/wp-content/uploads/2014/02/130520-Women-Economic-Development-Paper-for-HLP.pdf

[accountancyandtaxupdate-blog]

What does the Spring Statement mean for accounting and finance professionals?

In a nutshell Fiscal Phil returned today to deliver his Spring Statement, just two weeks ahead of B-day. He pointed out that the UK economy is continuing to grow, including increasing wages and unemployment falling to its lowest rate in eight years. Hammond set a positive tone for growth in the post-EU exit era, announcing investments in infrastructure, housing, clean growth, technology, and skills. In a bid to tackle crime in England and Wales, the Chancellor also announced that £100 million would be available to police forces in the most affected areas. Key takeaways The Chancellor’s key changes were particularly prevalent in the following areas: 1. The Economy There has now been nine years of consecutive growth and business investment is expected to start growing once again next year when businesses can leave behind the uncertainty Brexit has brought. 2. An open and competitive UK The government is strongly hammering the message to the world that, as the UK ceases to be a member of the EU, it continues to be open for business. Key changes which support this include citizens of the US, Canada, New Zealand, Australia, Japan, Singapore, and South Korea being able to use e-gates at UK airports and Eurostar terminals from June 2019 and the fact landing cards will be abolished from June 2019. 3. Technology Further changes to support innovative science and technology to further grow the economy and create jobs were announced. Hammond today welcomed the Furman review, independently looking into competition in the digital economy and hoping to tackle the fact some tech giants have become very dominant. Other funding is going towards new inventions to further scientific discovery, including £81 million in Extreme Photonics, which is state-of-the-art laser technology, £45 million on Bioinformatics research in Cambridge, and £79 million on a new supercomputer built to be five times faster than anything in existence now. 4. Clean growth The Spring Statement has built on the last Budget’s commitment to a cleaner economy via Industrial Strategy, Clean Growth Strategy, and a 25-Year Environment Plan. This includes the government introducing a call for evidence on a Business energy efficiency scheme. It will also advance decarbonisation of gas supplies by upping the proportion of green gas in the grid, which will in turn help to reduce dependency on burning natural gas in homes and businesses, among many other new initiatives both for individuals and businesses. 5. Housing and infrastructure investment To continue with this government’s ambition of raising housing supply to its highest level since 1970 by the end of this parliament, Hammond announced more funding and other initiatives in the coming months. £717 million from the Housing Infrastructure Fund will unlock up to 37,000 homes at sites including Old Oak Common in London, the Oxford-Cambridge Arc, and Cheshire. Up to £3 billion in borrowing will be guaranteed to housing associations in England to support the delivery of about 30,000 homes. What does this mean for accountants? In the shadow of another rejected Brexit deal, it is unsurprising that very little tax changes were announced in the Spring Statement. Stella Amiss, head of tax policy at PwC, said: “While the economic message was robust, the door has clearly been left ajar for a possible summer Brexit Budget. “The Chancellor was at pains to stress the importance of an updated regulatory model that will deliver for a Global Britain in the digital age. It’s a shame no such acknowledgement was made of the need to overhaul a creaking tax system to support modern ways of working and doing business, let alone those that will follow in the future. “This was a speech very much aimed at future generations. But while technological advancements continue apace and the ways in which people wish to work constantly evolve, our tax system will find itself lagging behind. We did see a nod towards a continued commitment to the UK Digital Services Tax, but what is ultimately required is the start of a conversation to address the fundamental issues within our tax system. There’s only so long we can keep kicking the can down the road.” For Adam Jackson, director of Public Affairs at Grant Thornton, the statement saw Hammond “pleading for certainty and putting off decisions.” Jackson said: “Sitting in the shadow of last night’s defeat of the Prime Minister’s Brexit deal and tonight’s vote on no deal, this was always going to be a very low-key Spring Statement. The Chancellor took it as a political opportunity to press home his own views on Brexit. “Philip Hammond began by warning of the ‘dark cloud’ of uncertainty hanging over the economy; he went on to warn of the economic disruption caused by a no-deal Brexit including a hint that the risk of inflation could limit the scope for any fiscal stimulus. He held out the prospect of a Spending Review that would finally end austerity, provided there is a Brexit deal, and he used the end of his speech to make a seemingly personal pitch to MPs to rule out no deal, extend Article 50 and use the time to find a solution that would provide for an orderly Brexit. “In between these Brexit points, the Spring Statement was largely an exercise in treading water. The good news was that economic forecasts are holding up (with a slight improvement on last year’s forecast) and public finances are looking strong enough to possibly allow for some significant increases in public spending (specifically referencing local government) in the multi-year Spending Review that will be launched in the summer. These measures are all subject to an orderly Brexit and avoiding no deal. Making Tax Digital updates Perhaps one of the most significant announcements in today’s statement was the reference that the government will not mandate MTD for any new taxes in 2020. George Bull, senior tax partner at RSM, said: “Previously, we were expecting MTD to be extended to income taxes and corporation taxes from 2020, but this now appears to have been deferred to an as yet unknown later date. It’s likely that HMRC will want to fully assess how MTD for VAT, which comes into force in 2019-20, is working in practice before committing to an extension. “This is a far cry from the ‘end of the tax return’ we were promised back in Budget 2015.” As for MTD for VAT, of which the deadline is less than a month away, Adrian Rudd, Chair of CIOT/ATT, said: “While some of the requirements of MTD apply from 1 April 2019, this is not the deadline for enrolling into MTD. For many businesses the deadline for signing up may be nearer the beginning of August 2019. “Businesses need to enrol into MTD for VAT at the right time, and only when they are confident that they can submit their next VAT return using MTD-compatible software, otherwise significant problems can arise. We have produced a guide to the sign up ‘windows’, to help businesses transition into MTD as smoothly as possible.” The post What does the Spring Statement mean for accounting and finance professionals? appeared first on Accountancy Age.

https://www.accountancyage.com/2019/03/13/what-does-the-spring-statement-mean-for-accounting-and-finance-professionals/

[owenstrachan]

ITAC names 2019-2020 slate of ITAC Health Board of Directors

Toronto (May 29, 2019) – The Information Technology Association of Canada (ITAC) today announced the approval of the ITAC Health Board of Directors slate for the 2019 to 2020 term, during their May 29, 2019 Board meeting, which was held in Toronto, ON in conjunction with the 2019 e-Health Conference.

2019-2020 ITAC Health Board of Directors

Chair – Susanne Flett, Healthtech Consultant

Vice Chair – David Thomas, TELUS Health

Past Chair – Gary Folker, Orion Health

Directors The ITAC Health Board extends their thanks outgoing Board Director Laure Tessier-Delevuk of GE Healthcare for her generous contribution of time and outstanding commitment that she has provided to ITAC Health over her tenure as a director on the board.

Al Amiri, Cisco Systems Canada

Charles Aram, Deloitte

Aaron Berk, KPMG

Michael Checkley, QHR Technologies

Ron Dunn, RelayHealth McKesson

Ian Fish, IBM Canada

Catherine Hunter, PwC Health Industries

Paula Hucko, Goldcare

Peter Jones, Microsoft Canada

Glenn Lanteigne, Tectonic Advisory Services

John Lee-Bartlett, Allscripts

David Mosher, Logibec

Garth Reid, Hpe

John Sinclair, Novari Health

Kyle Schilke, Amazon

Jim Shave, Cerner Canada

Sandy Penn Whitehouse, Tickit Health

Michel Whitt, Bennett Jones LLP

Quote:

It is my pleasure to announce the 2019 ITAC Health Board of Directors. The members of the Health Board will guide the direction of ITAC’s Health division and ensure that we continue to provide valued inputs, advice and support to our members. As the voice for the health ICT vendor community, ITAC Health depends upon its Board to ensure that we deliver high value to our members.   Congratulations to the new and returning ITAC Health Board members and thank you for your dedicated efforts. Gary Folker, Chair of the ITAC Health Governance Committee and Past Chair of the ITAC Health Board. 

 About Information Technology Association of Canada (ITAC)

As Canada’s national ICT business association, the Information Technology Association of Canada (ITAC) champions the development of a robust and sustainable digital economy in Canada. A vital connection between business and government, we provide our members with the advocacy, networking and professional development services that help them to thrive nationally and compete globally.

A prominent advocate for the expansion of Canada’s innovative capacity, ITAC encourages technology adoption to capitalize on productivity and performance opportunities across all sectors. A member-driven not-for-profit, ITAC has served as the authoritative national voice of the $170 billion ICT industry for over 60 years. More than 36,000 Canadian ICT firms create and supply goods and services that contribute to a more productive, competitive, and innovative society. The ICT sector generates over one million jobs directly and indirectly and invests $4.9 billion annually in R&D, more than any other private sector performer.

About ITAC Health ITAC Health is the Health division of ITAC, the Information Technology Association of Canada, Canada’s ICT business association.  The Health Division’s mandates and objectives are membership driven, providing a consolidated, single voice for the membership to help influence the Canadian healthcare ICT market.  By providing access to information on the market trends and issues that need to be addressed, members develop a sense of direction of where the industry is going, and have the opportunity to influence that direction, in order to better focus their overall product and service strategies and develop the network necessary to effectively execute on those strategies.

Contact: Elaine Huesing, Executive Director, ITAC Health 780.489.4521 e.huesing@itac.ca

-30-

About Information Technology Association of Canada (ITAC)

As Canada’s national ICT business association, the Information Technology Association of Canada (ITAC) champions the development of a robust and sustainable digital economy in Canada. A vital connection between business and government, we provide our members with the advocacy, networking and professional development services that help them to thrive nationally and compete globally.

A prominent advocate for the expansion of Canada’s innovative capacity, ITAC encourages technology adoption to capitalize on productivity and performance opportunities across all sectors. A member-driven not-for-profit, ITAC has served as the authoritative national voice of the $170 billion ICT industry for over 60 years. More than 36,000 Canadian ICT firms create and supply goods and services that contribute to a more productive, competitive, and innovative society. The ICT sector generates over one million jobs directly and indirectly and invests $4.9 billion annually in R&D, more than any other private sector performer.

To arrange an interview, please contact:

Janet Gibson Eichner

Cell: 416-357-8908 or jgibson_eichner@itac.ca

The post ITAC names 2019-2020 slate of ITAC Health Board of Directors appeared first on Information Technology Association of Canada.

from Information Technology Association of Canada https://itac.ca/blog/itac-names-2019-2020-slate-of-itac-health-board-of-directors/

The post ITAC names 2019-2020 slate of ITAC Health Board of Directors was originally published to Owen Strachan

from https://owenstrachan.com/itac-names-2019-2020-slate-of-itac-health-board-of-directors/

[energysolutions]

Press release: Creative Industries Sector Deal launched has been published on Energy Solutions News

New Post has been published on http://www.energybrokers.co.uk/news/press-release/press-release-creative-industries-sector-deal-launched

Press release: Creative Industries Sector Deal launched

More than £150 million will be jointly invested by government and industry to help the country’s world-leading cultural and creative businesses thrive as part of landmark Sector Deal

Britain’s creative industries are worth £92 billion, employ two million people and are growing twice as fast as the rest of the economy

New Cultural Development Fund will see cities and towns have access to £20 million to invest in culture and creative industries

Plans to nurture and develop the next generation of creatives include industry-led careers programme and a new London Screen Academy

Britain’s world-leading creative industries are set to consolidate the country’s position as a global creative powerhouse, following a groundbreaking new Industrial Strategy deal agreed between Government and the Creative Industries Council (CIC) on behalf of the sector.

As part of a Creative Industries Sector Deal, to be announced today by the Digital and Culture Secretary Matt Hancock, Business Secretary Greg Clark and Co-Chair of the CIC, Nicola Mendelsohn, more than £150 million is being jointly invested by Government and industry to help cultural and creative businesses across Britain thrive.

A Cultural Development Fund will also be launched for cities and towns to bid for a share of £20 million to invest in creative and cultural initiatives. The power of culture and creative industries to boost economic growth is evident across the country. In Hull nearly 800 jobs have been created and almost £220 million invested in Hull’s tourism and cultural sectors since the city was named UK City of Culture 2017. And in Bristol creative hubs like the Bristol Temple Quarter are delivering thousands of jobs in design, media and music businesses.

The Sector Deal aims to double Britain’s share of the global creative immersive content market by 2025, which is expected to be worth over £30 billion by 2025. To seize on the opportunity of this expanding market, government is investing over £33 million in immersive technologies such as virtual reality video games, interactive art shows and augmented reality experiences in tourism.

Britain is already leading the way in developing immersive technologies. PWC has predicted that the UK’s virtual reality industry will grow at a faster rate than any other entertainment and media industry between 2016-2021, reaching £801 million in value, and that by 2021 there will be 16 million virtual reality headsets in use in the UK.

Improving the nations skills is at the heart of the Government’s modern Industrial Strategy and to ensure the industry has the skilled workers it needs to deliver this, up to £2 million will be made available to kickstart an industry-led skills package, including a creative careers programme which will reach at least 2,000 schools and 600,000 pupils in two years. A new London Screen Academy, with places for up to 1000 students, will also open in 2019.

Secretary of State for Digital, Culture, Media and Sport, Matt Hancock, said:

Britain’s creative industries are an economic and cultural powerhouse and this ambitious deal will make sure they continue to thrive as we build a Britain fit for the future.

Our creative industries will help develop the talent of the future, ensure people are rightly rewarded for their creative content and give our firms the support they need to compete on the global stage. Millions of people around the world enjoy our world-class artistic and cultural output and we want Britain to stay a frontrunner in these vibrant sectors.

Business Secretary Greg Clark said:

The Industrial Strategy is all about building on our existing strengths and seizing the opportunities of the future. Our creative industries have been, for centuries, world renowned and at the forefront of innovation. That’s why I was determined to place the creative industries at the heart of our Industrial Strategy.

To boost this innovation, we put the creative industries at the heart of our ambitious Industrial Strategy and this joint deal is a landmark moment for our relationship with this world-leading sector. By working together with universities and industry, and by investing £150 million, we will unlock growth across the UK.

The Deal is evidence of our continued commitment to our world leading creative sector, establishing a partnership that can build on the UK’s position and reputation as one the most creative places on earth.

Nicola Mendelsohn, Co-Chair of the Creative Industries Council, said:

This breakthrough deal represents a huge vote of confidence in our creative industries to continue to deliver the world class economic performance and workforce that the UK needs. We look forward to working together with Government to realise its full benefits and the potential of the creative industries in all parts of the UK.

Investment in Virtual and Augmented Reality

Creative businesses are constantly innovating, matching creativity with technology to develop exciting new products and new ways to engage growing audiences. To seize on the opportunity of this expanding market, immersive technologies such as virtual reality video games, interactive art shows and augmented reality experiences in tourism, will receive over £33 million of government funding.

Exceptional growth is forecast for the virtual reality and video game sectors in the next five years with UK consumer spending on video games set to reach £5 billion by 2021.

Government will also support the highly successful UK Games Fund with an additional £1.5 million over the next two years so that it can further boost young entrepreneurs and new product creation in the trailblazing games sector.

The UK’s video games industry is already established as the largest in Europe and the fifth largest globally, and this investment will drive growth further.

Flagship film studios expansion

Film studios across the country are increasing their capacity to keep up with demand for production space, including multi-million pound expansions at Pinewood and Warner Bros. Studios Leavesden, as well as significant new projects such as Pacifica Ventures’ £100 million investment in Barking and Dagenham and Liverpool’s Littlewoods Studios.

Over the last five years inward investment in Britain’s film and high-end TV industries has grown by more than 100 per cent to over £2 billion production expenditure a year, and with the right conditions that annual figure could double again by 2025.

The Sector Deal demonstrates business confidence and investment opportunities in the sector, is at an all-time high. Britain’s creative industries are worth £92 billion, employ two million people and are growing twice as fast as the rest of the economy. The sector includes music, fashion, design, arts, architecture, publishing, advertising, video games and crafts.

The deal contributes to the Industrial Strategy’s vision of good jobs, greater earning power for all, and prosperous communities across Britain. It aims to unlock future growth across Britain, create jobs and develop the cutting-edge technology of the future. The creative industries already export substantially more than their share of the economy and growth at home will also help power the sector to make further strides abroad.

The commitments include:

£72 million from the Industrial Strategy Challenge Fund with £39 million for the Arts and Humanities Research Council to support eight creative research and development partnerships across Britain and £33 million to invest in immersive technology products, services and experiences. This will support new uses of virtual reality in areas like video games, interactive art shows and augmented reality experiences in tourism that will capture the world’s attention and double Britain’s share of the global creative immersive content market by 2025.

£2 million to extend the ‘Get it Right’ campaign to tackle online piracy and educate consumers on the value of copyright and direct them to legitimate websites.

A new free school based in Islington with places for 1000 students (16+) from across the capital. The London Screen Academy’s curriculum will include UAL Creative Diploma and A-levels and is set to open in Sept 2019. Improved access to finance from the British Business Bank for high-growth creative businesses outside of London, with up to £4 million to be invested in a new programme of investment readiness support for creative businesses.

A new creative industries Trade and Investment Board, comprising industry and government, to replace the current Sector Advisory Group with the ambition of increasing creative industry exports by 50 per cent by 2023 and boosting the number of creative businesses exporting.

New action to crackdown on copyright infringement. A landmark code of practice brokered by government and industry in 2017 reduced the prominence of illegal sites returned in search results. A series of roundtables between rights holders and platforms will consider the need for and develop a similar approach in relation to the online advertising industry, social media, and online marketplaces.

John Kampfner, Chief Executive of Creative Industries Federation said:

The Creative Industries Sector Deal is a welcome first step, highlighting the significant contribution our sector makes to UK innovation, productivity, and growth. But government’s commitments cannot end here. We look forward to continued commitment in supporting the next generation of creatives which will ensure our creative industries remain world-leading. To this end, the Federation will be leading on a Creative Careers Campaign to showcase the richness and diversity of creative careers to young people, teachers, parents and carers across the UK. We look forward to working with government to equip the next generation for future work.

Geoff Taylor, Chief Executive BPI & BRIT Awards, said:

This Industrial Strategy deal demonstrates that Government is now taking a strategic approach towards the creative industries as a key driver of economic growth. There will be opportunities for the music sector in new funding for VR/AR content, the creative careers programme, the Cultural Development Fund and improved access to finance. But the key new elements for music are the commitment to resolve the Value Gap and to require online intermediaries to play a more active role in tackling copyright infringement, through the establishment of new roundtables leading to anti-piracy Codes of Practice for social media platforms, online advertising networks and online marketplaces.

It is also good news that Government has pledged £2m in additional funding for the Get it Right campaign, to encourage consumers to use genuine sites to discover and access content.

[rickhorrow]

15 to Watch & 5 Tech 10217

1) Amidst a whirlwind of protests and demonstrations during the National Anthem before NFL games these last two weeks, many players around the league expect tensions to settle down going forward. According to the AP, during Week Three, some teams elected to stay in the tunnel during the anthem, while others linked arms and kneeled. In Week Four, however, teams were more united, with arm-linking common and tunnels largely empty during the anthem. President Donald Trump’s comments were cited as the fire that ignited widespread protests from so many teams and players across the league – and moved NFL Commissioner Roger Goodell to convene a watershed meeting in New York with owners on the subject. “Moving forward, we will be on the field,” commented Atlanta Falcons coach Dan Quinn. “We haven’t talked about it further as a team, but my initial response would be it would settle more back down.” Decisions regarding kneeling, standing, or not coming out of the tunnel during the anthem have become team choices, not necessarily individual ones. Many players have noted that they are ready to “focus on football” going forward instead of getting caught up in the pregame drama.

2) PwC Sports Survey reveals leaders expect sports industry growth to slow. Sports industry leaders "expect the sector’s growth rates to slow down" from 8% to 6.4% per year, according to ISportConnect. While football "appears to be too big to fail" and esports is seen as a "key growth area," respondents view the Olympics as having a "less certain future." These are some of the key results of the 2017 edition of PwC’s Sports Survey. Respondents across the board "still expect the sports industry to continue to grow." However, they "foresee this growth to slow down" by over 20%. PwC Switzerland Sports Business Advisory Team Director David Dellea said that "the results of the survey confirm that the sports industry is reaching a decisive inflection point, where sustained growth will be the privilege of a few premium properties." While football and esports were viewed positively, the Olympics and winter sports are "showing signs of slipping," evidenced by their "apparent decline in TV ratings," especially among younger fans. More generally, 57% of respondents consider the shift in consumer behavior among younger generations as the "top threat faced by the industry." Even with a 20% slowdown, a 6.4% annual growth rate is one that most industries would happily accept. Not time to wring your hands just yet.

3) Working with the NHL, NHLPA, and their Future Goals program, EVERFI is powering the world's largest digital STEM education program through Hockey Scholar, a web-based course that leverages hockey to teach foundational math and science concepts. Millions of students build critical life skills through EVERFI’s custom-branded digital education programs. Through partnerships with major sports leagues, teams, foundations, athletes, and entertainers, students thrive by using the game of sport, music, and entertainment to bring the programs to life. As the NHL works through its preseason, the no-cost Hockey Scholar resource covers topics such as rates and ratios, states of matter, force, and energy, and careers in science, technology, engineering, and math (STEM). Today’s students have unprecedented access to the tools of the digital age — computers, mobile devices, and social media — but they are not being taught how to leverage that technology in a responsible and safe way. Upon graduating, these students will compete in an emerging global economy fueled by rapid innovation, but many will be unprepared to pursue STEM-based careers. Partnered with EVERFI, the NHL’s Future Goals program is committed to sparking student interest in STEM topics and helping students become college-ready, career-ready, and life-ready. Now that’s a real-life hat trick.

4) Phoenix Raceway and ISM Connect, a pioneer in smart venue technology, announced a multi-year partnership that includes naming rights for the Raceway’s modernized venue as well as the installation of a leading-edge digital fan engagement experience. Beginning in 2018, the venue will be known as ISM Raceway. As part of the naming rights position and in support of the racetrack development project, ISM will serve as an IT consultant as the new business partners deploy technology solutions at the venue through their 360 degree digital engagement venue network. The $178 million modernization of the track will now include the launch of ISM’s interconnected, intelligent venue concept, where technology aspects like Wi-Fi, ISM Vision video boards, mobile, web, social channels, and more are connected and enhance the fan experience throughout the facility, and create a sports and entertainment environment like no other venue in the country. As NASCAR heads toward the season finale and its penultimate race in Phoenix, the Can-Am 500 on November 12, it’s only fitting that Phoenix Raceway has some main-stage news of its own to share, adding to the excitement of the playoffs.

5) Fans are clamoring to get their hands on tickets for the Las Vegas Golden Knights’ first regular-season home game in franchise history. According to the Globe & Mail, the NHL expansion club is currently the top team in the league in “terms of overall StubHub ticket sales headed into this season.” The average ticket price for the Knights’ home opener is $227, with the team set to square off against the Arizona Coyotes. A significant portion of the teams’ early ticket sales have come from Canadian hockey fans, including preseason games at the brand new T-Mobile Arena. The New York Rangers currently rank second in the NHL in early ticket sales, but the Golden Knights are on track to outsell them by a whopping 96%. The Golden Knights are “in seven of the top 10 most in-demand games in the NHL, including three of the top four.” Growing interest in the Golden Knights only continues to validate NHL Commissioner Gary Bettman’s vision in expanding the league into non-traditional hockey markets – and Bettman will now forever be known as the first pro sports commish with the guts to take on “taboo” Vegas.

6) The Utah Jazz are set to welcome the new NBA season with a completely renovated Vivint Smart Home Arena. According to the Salt Lake Tribune, the upgraded facility features a J-Note statue in front of it, which team owners “regard as a future iconic spot” for the upgraded, modern arena. Besides the statue, the upgrades include a new box office, team store, and automated ticketing entrances to a “more open arena bowl.” With the renovations, the capacity of the facility has shrunk by over 1,500, from 19,911 to a more intimate 18,200, with all seats being converted from hard plastic green to “upholstered, cushioned blue.” “We wanted to ensure that both [the Jazz and the arena] would survive for many, many generations,” stated Jazz Owner and Chair Gail Miller. “This is a new beginning and we’re proud to say that we’ve accomplished that purpose. The Jazz and the building cannot be separated: They’re here to stay.” As Salt Lake’s only pro sports franchise, it’s only fitting that the Jazz put forth a more premium experience for their fans – most of whom are long-time, diehard, and well-deserving of a little more pampering.

7) NYCFC has started to narrow down potential sites to build a new soccer-specific stadium, with Belmont Park racetrack emerging as a favorite site. According to Newsday, the MLS club is preparing to submit a proposal to develop a stadium at the racetrack site. If the team officially places a bid for Belmont Park, it would be “in competition with the Islanders’ plans to develop their own new hockey arena” on the same piece of land. Even if both teams submit proposals, a decision on which team is allowed to start building is not expected to come for months. The state-run property in Elmont, just outside the Queens border, is not NYCFC’s first choice for a site to build on due to its location. The team currently plays its home matches at Yankee Stadium, and is looking at a “handful of other spots within the city limits.” New York’s biggest problem: an embarrassment of sports riches, and limited available land to house them. Most cities would consider this a good problem to have.

8) After a foul ball struck a girl at Yankee Stadium last week, more MLB teams are now planning to extend safety netting down the line at their stadiums. According to Mlive.com, the Detroit Tigers recently noted that they are currently developing plans to add more netting before the 2018 season, with their ballpark operations department taking the lead. Season ticket holders have historically been the ones to oppose additional netting, saying that it could obstruct their view of the playing field. The Baltimore Orioles have also stated their intent to add more netting, with team physician Bill Goldiner saying that plans are “being made and that the nets almost certainly will be going up sometime after the end of the regular season.” Additionally, the Los Angeles Dodgers, San Francisco Giants, Seattle Mariners, Cincinnati Reds, and San Diego Padres all announced that they would “expand netting” for 2018. Fan safety is paramount – there’s really no such thing as a premium fan experience in an area of the stadium where fans are placed in jeopardy. For their own good, those in baseline seats will need to learn to adapt.

9) In the wake of the Texas Rangers breaking ground on their new ballpark in Arlington, city council members are highly critical of the stadium’s design. According to the Dallas Morning News, the $1 billion retractable roof ballpark has drawn criticism for looking “too much like a shed,” among other things. The stadium’s interior design drew positive remarks and praise from council members, but the outside was likened to Lucas Oil Stadium, which looks like “a field house.” “It looks like you hit a home run with your design on the inside, but on the outside it seems that it is wanting some other details,” commented council member Charlie Parker. “I don’t feel like it is giant steps ahead of the old ballpark.” The team surveyed fans about what is most important for them in a new ballpark, and results revealed that “mass transit was key to improving their ballpark experience.” City council members, take note.

10) Nashville’s MLS bid is moving forward without Vanderbilt University signing on. According to the Nashville Tennessean, Nashville’s push to land an MLS team requires a soccer-specific stadium; organizers of the bid hoped that Vanderbilt would “join on a proposed shared-stadium concept.” In joining forces, Vanderbilt would have moved all of its football games off campus to The Fairground Nashville – a move the university did not support. Vanderbilt still might play “one or two football games a year” at the stadium if it is built, but that remains up in the air at this point. Even without the university’s support, the city’s MLS bid is not expected to lose traction, though Vanderbilt could have provided an additional source of funding for the stadium. Meanwhile in Cincinnati, USL club FC Cincinnati is continuing its push for a public-private partnership to build a $200 million soccer-specific stadium. Numerous projects are still being floated – the city is far from building anything.

11) With the International Olympic Committee’s decision to award both the 2024 and 2028 Olympics simultaneously, sponsorships are expected to be more expensive than usual. According to the Bloomberg, companies usually sign on to multi-year Olympic sponsorship deals without knowing all of the host cities they will be sponsoring, causing some ambiguity for participating corporations. This time around, sponsors know that two lucrative markets will host the 2024 and 2028 Olympics – Paris will host the former Games and Los Angeles the latter. “The presence of Paris and Los Angeles tells Western sponsors that the games are going to be really good in seven and 11 years,” said former USOC CMO and current professor of sports management at Syracuse University Rick Burton. Early bird sponsors are beginning to sign long-term deals now at cheaper rates, for sponsorship prices are only expected to increase going forward. The only big hole in the long-term Olympic corporate sponsorship plan remains the un-awarded 2026 Winter Games – which will likely not be held in the U.S. despite interest from Salt Lake City, Denver, and others.

12) Pittsburgh Penguins star Sidney Crosby is receiving a significant amount of criticism from some supporters following his decision to visit the White House. According to the Associated Press, the back-to-back Stanley Cup champions recently accepted an invitation from President Trump to make the trip to Washington D.C., though Coach Mike Sullivan “insists the franchise’s decision…does not mean the team is wading into the increasingly charged intersection of sports and politics.” Sullivan defended Crosby in this situation by stating that everyone expects the sport’s preeminent player to take a political stance here. “The Penguins, as an organization and our players, have chosen not to use this platform to take a stance,” said Sullivan. “There appears to be a perception that we have, and it is wrong.” This development comes in wake of Stephen Curry and the Golden State Warriors declining an offer to go to the White House, the typical tradition for champion sports teams. While there are clearly much bigger issues at stake, it’s a downright shame that what should be a bucket list triumph for top athletes and their teams is now so mired in political muck that many are simply choosing to forego the experience altogether.

13) Domestic ticket sales for the 2018 PyeongChang Winter Olympics have been less than stellar thus far, but that might change with the help of the Korea Federation of Banks. According to Reuters, the South Korean banks federation pledged to buy nearly $900,000 worth of tickets “as part of its social responsibility efforts.” The first phase of sales for the upcoming Olympics was “utterly underwhelming.” The proximity of the Olympics to North Korea has been noted as a primary safety concern for potential ticket-buyers. Just recently, only 30% of the “1.07 million total target” tickets have been sold, with nearly 60% of those coming from overseas customers. The Korean Federation of Banks is attempting to spur a domestic movement to buy more tickets and increase interest among South Korean citizens. Additionally, the federation announced it would donate $17.6 million to Olympic organizers “to help the Games run smoothly.” Noble gestures, to be sure, but unless the Korean Banks can exert influence on Pyongyang and help ensure Olympic-goers’ safety, fear of missile strikes will continue to impact travel decisions by fans and athletes alike.

14) The English Premier League, the world’s wealthiest soccer league, is facing some internal conflict amongst clubs regarding the current revenue sharing agreement. According to Bloomberg, the top six clubs – Manchester United, Manchester City, Chelsea, Arsenal, Liverpool, and Tottenham – are beginning to argue that their popularity “helps drive international revenue, so they should get a bigger slice” of the pot the Premier League gets for international media rights. That “pot” totals more than $1.3 billion annually. Conversely, smaller teams want to keep the current revenue-sharing agreement since they all receive the same amount as the heavyweights. One alternative being considered is paying teams based on how long they had held a spot in the league, which would favor the EPL’s longstanding teams. If a change were to take effect, at least 14 of the league’s 20 clubs would need to vote in favor of it. In this respect, despite its enormous wealth, the EPL is no different than any other pro sports league on the planet. The “pot” always stirs trouble.

15) University of Arizona Athletic Director Dave Heeke has found funding to build $66 million in overdue capital projects. According to the Arizona Daily Star, Heeke asked the university’s Board of Regents for the funding, which will primarily come from “the upcoming student fee and donor contributions.” Every year, each University of Arizona student pays $100 to the athletic department; the renovations will help prove to students that their money is being spent appropriately. The $66 million would go toward four major renovations: $25 million to re-do Arizona Stadium’s lower east side, $12 million to completely remake the Hillenbrand Aquatic Center, $18 million to construct an indoor practice facility/fan-engagement center at Kindall-Sancet Stadium, and $8 million to give the Hillenbrand softball stadium a major facelift. “Approval [by the regents] won’t determine the start dates,” noted Heeke. “It’s just that we can move forward to fully develop plans as well as budget and make logical construction schedules.” Hillenbrand Memorial Stadium is one of many Arizona athletic facilities supported by Mr. and Mrs. William G. Hillenbrand.

Five Top Tech

1) Gatorade has partnered with the NBA on re-branding the developmental league formerly known as the NBA D-League. The league’s name is now the NBA G-League after the partnership deal with Gatorade.  The G-League will also be using the Gatorade Sports Science Institute as a way to better understand and physically equip players before, during, and after games. Kenny Mitchell, Gatorade’s Head of Consumer Engagement, said this about the partnership: “The premise for the deal was to allow us to push on our innovation agenda and doing that with basically — this will sound a little off — but, using professional athletes as a part of like our lab. So if we want to showcase a protein-enriched shake, we may test it with the Gatorade developmental league and then we might be launching it with NBA players.” The G-League provides fans with NBA-level talent to watch and enjoy play on a smaller scale. For NBA teams, the league serves as a great way to identify and acquire talent they may not have seen play otherwise. Over the past few years, star players like Hassan Whiteside and Danny Green have found their way onto the NBA landscape through the G-League. With its Gatorade partnership, the developmental league takes another step in legitimate brand recognition.

2) The dangers and fear of CTE continues to affect youth football across the U.S. today. However, new technology continues to be introduced that could save thousands from long-term brain injuries. Jake Merrell, a student at Brigham Young University, has developed a type of smart foam to be place inside players’ helmets and shoulder pads. Merrell said this about the specifics of his invention: “The standard measurement systems on the market today directly measure the acceleration, but just measuring the acceleration is not enough and can even be erroneous. Our XOnano smart foam sensors measure much more than just acceleration, which we see as a vital key to better diagnose head injuries.” By placing the foam in the shoulder pads along with helmet, Merrell is able to give each football player an added layer of protection that many have not targeted before. To further prove the usefulness of the product, Merrell has also begun working with the U.S. Army to create more protection equipment. With CTE growing as a major concern and youth football numbers shrinking, every added benefit through new protection technology can make a big difference.

3) Virtual Reality continues to grow as a form of entertainment for consumers everywhere. For Major League Baseball, VR could lead to a new form of entertainment for fans both inside and outside of the stadium. Inside Comerica Park, the Detroit Tigers have placed virtual reality stations where fans can take swings against their favorite Tiger pitchers. Monsterful VR CEO Jarett Sims told Crain’s Detroit Business where he sees VR heading in the very near future. “We want to tie it directly to the team in a way that builds fan loyalty and connects to what’s going on on the field,” Sims said. “There are plenty of cool activations that provide fans entertainment, but we strive to be more than that.” The interactive experience puts fans right in the middle of the action, where they feel like they actually are hitting against major league pitching. The use of VR may also make its way down from MLB to youth and high school leagues. VR could prove to be a very useful training tool to give players a better feel for different angles, ballparks, and arm angles from different pitchers. It will be fascinating to see how VR affects the entire sport of baseball in the next few years.

4) Soon, fans entering Dodger Stadium will be directed to their seats by their favorite Dodger player. VNTANA is a company that specializes in augmented reality that helps brands connect with their customers. For the Dodgers, VNTANA is looking for new ways to engage fans during their ballpark experience. According to SportTechie, “The experience enables fans to interact with a hologram that appears inside the glass box of a kiosk, which will talk back to users in natural language and pick up on cues from their facial expressions to detect emotion and adjust the tone of its responses. The brains powering the artificial intelligence were built by Satisfi Labs, a maker of virtual assistants.” Adding holograms to MLB stadiums would be a leap into the future for a sport that is often considered old-fashioned. Engaging fans is the best way to keep them coming back, and in this creative use of augmented reality, the Dodgers are taking a step ahead of the rest of MLB.

5) The Oklahoma Sooners are not going to be using traditional stopwatches to time the 40-yard dash any longer. Through a partnership with Zybek sports, the Sooners are now going to measure speed through force plates that lie underneath the turf at their new 70-yard performance center. Mike Weinstein, founder of Zybek Sports, told SportTechie about the new technology. “When you’re running the 40-yard dash, the time is an effect of what you’ve done, it’s not the cause,” he said. “The cause of an athlete running fast is the ground base forces that the athlete’s able to generate. Now we’re able to quantify the forces the athlete is generating and then overlay those on the video to show exactly what’s working and what’s not working — in real-time feedback.” Specific features of the new performance facility include 2,000 pounds of force plates that will measure speed, distance, and other features of each player as they complete different types of physical assessments. For the NCAA, this is another step toward a new age of technology and analytics to better figure out what their athletes go through on a daily basis. The data boom is not slowing down, especially for the Sooners.

[newsdistribution]

Demonetization Conference at Jindal Global Business School (JGBS) discusses societal and economic impact

Demonetization Conference at Jindal Global Business School (JGBS) discusses societal and economic impact

Jindal Global Business School (JGBS) conducted a conference on “Demonetization and Emerging Challenges” in association with Queen’s University of Belfast, U.K. The Conference was held over the course of 5 sessions on the 10th and 11th of April. The aim was to analyze the nuances of demonetization’s impact across sectors of the economy.

The Inaugural Session on 10 April saw Dr. Tapan Panda, Dean, JGBS, open proceedings for the Conference, followed by the VC’s Address, Welcome Address, Keynote Address, Special Address, and Vote of Thanks. This set the tone for the first panel’s discussion on ‘The Premise of E-Money and Digital Payments’. The Panel Chair was Federico Lupo-Pasini, Lecturer, International Business and Finance Law, Queen’s University, Belfast, UK, and the Moderator was Professor (Dr.) Krishan Kumar Pandey, Vice Dean and Professor, JGBS.

The discussion revolved around how the emergence of Fintech and Online payment gateways will pave the way forward for digital payments. Dr. Pulin B. Nayak, Professor of Economics at the Delhi School of Economics, University of Delhi, portrayed the economic downside of the move, stating, “The act broke the backbone of the rural economy, as the PM wasn’t aware of the lapses that could’ve occurred”.

Mr. Sanjay Phadke, a Fintech Consultant, explained the evolution of the demonetization process and how the Fintech companies benefitted with the bonanza offered to them.

Dr. D. K. Punia, CEO and Co-Founder, Project for School, drove the discussion towards the technical front and explained how technology as a whole is changing. His opinion was that “The change is for good, but like mobile phones, E-payments will also take time and effort to take off seamlessly.”

Mr. Ravish Ranjan Sukla, Senior Correspondent in NDTV India provided a journalist’s perspective stating how a sensationalism effect was created over the move by the government.

Mr. Vijay Sardana, Vice President & Head Food Security & Agribusiness, Policies and Programs, UPL Group, provided the discussion with a realistic viewpoint. Being the only panel member closely associated with politicians, he gave the political view behind the entire demonetization move.

After the enlightening discussion of Panel 1, Panel 2 took the event forward with their topic ‘The Fundamental Drivers behind Indian Money Supply’. The discussion Chair was Samuel Vigne, Assistant Professor, Finance at Queen’s University. The moderator for the Panel was Dr. Ayona Bhattacharjee, Assistant Professor, JGBS.

The Panel Members were:

Tushar Arora, Senior Economist, HDFC Bank

Professor Bappaditya Mukhopadhaya, Professor, Great Lakes Institute of Management, Gurgaon

Vinod Vyasulu, Professor and Vice Dean, Jindal School of Government and Public Policy

S. K. Shanthi, Head, India Development Foundation (IDF)

Rakesh Singh,Chairman, Institute of Supply Chain Management – Managing Editor, SCMPro an ISCM Media Initiative

The second day’s proceedings began with the Panel 3 discussion on ‘Crime and Corruption’. This discussion looked at how demonetization could impact the scourge of corruption in India.

CA Anil Kumar, Former Group CFO- Titagarh Wagons and Practicing CA, said “We have to wait until the technology of our country becomes resilient. The time is not far away that we will come up as a financial superpower.”

Mr. R.K. Joshi, Joint Advisor, Telecom Regulatory Authority of India, Govt. of India added value to the discussion through his experience and commented on how well the move has helped the government to control spread of corruption considerably.

Next, was Panel 4 with the topic ‘The Impact on Civil Society’

Dr. Amir Ullah Khan, Aequitas Consulting, Bill & Melinda Gates Foundation, commented on how we should change our views or perspectives on the impact such decisions can create with respect to civilians. He threw light onto how demonetization started putting extra pressure on civil society.

Subhomoy Bhattacharjee from Business Standard added his views on how the entire economy is getting impacted even though the problem lies with a small section of society.

Dr. V. P. Singh, Professor, Great Lakes Institute of Management, Gurgaon, expressed that he completely supported the move and finds it as a stepping stone to control the excess money in circulation.

Proceedings then moved on to the last discussion of the Conference. ‘The Role of Humanities in Demonetization’ was the topic of Panel 5. This panel discussed how the humanities are affected by such sudden disruptive decisions.

Mr. Ashok Vohra, Retd. Professor, Delhi, portrayed how the word Money is perceived by humanity. “Money is Profit, Challan, Fine, Fees, Tips, etc.” He criticised the media for their late entry into making people aware of the consequences.

Mr. Gaurav Singh, Director, PwC said, “We need to choose between the Good, the Bad and the Ugly. The story affects humans the way they perceive it.”

Mr. Sanjay Sharma, Director, Healin Medical Institute and MD, Gepco Industries Pvt. Ltd., stepped in as a common man and explained how the demonetization impacted 95% of society even though the problem lay in just 5% of society.

Ms. Mamuni Das, Deputy Editor, Hindu Business Line, accepted that the media narratives play a vital role on how the normal public perceives policy moves. She tried to draw the impact created by various media houses who came up with digital financial literacy campaigns which eased the stress among people. “People are happy and did not resort to riots, thinking that black marketers in the society are suffering due to demonetization.”

This last discussion brought the enlightening conference to a close. The conference thus brought into light how each strata of the society views a moveas disruptive as demonetization.

  var VUUKLE_EMOTE_SIZE = "90px"; VUUKLE_EMOTE_IFRAME = "180px" var EMOTE_TEXT = ["HAPPY","INDIFFERENT","AMUSED","EXCITED","ANGRY"]

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[bobnorthway]

Over 200,000 manufacturing jobs lost since 2008. Tens of thousands more to go in the auto industry as car makers exit. Another 50,000 jobs still to be shed as mining slides towards the bottom of the cycle. Five million Australian jobs to be automated by 2030. So what will blue collar workers do when robots are running the factories and driving the trucks? The answer is hiding in plain sight but wunderkinds in hoodies are blocking it from view. The working class of the future WATCH MORE: Tech News & Life Hacks X Programming is the next big blue collar job category. We need to start thinking about coding not as a "high-stakes, sexy affair", but the equivalent of skilled factory work, according to blogger and technology journalist Clive Thompson in a recent Wired article. He gets a resounding "yes" from Australian experts. "There will be the equivalence of blue collar jobs in the digital economy, and coding will be one of them," says Professor Marek Kowalkiewicz, PwC chair in digital economy at the Queensland University of Technology. Read more at https://www.lifehacker.com.au/2017/03/blue-collar-programmers-why-codies-are-the-next-tradies/?platform=hootsuite#pkqRprIWhtv7XPlW.99

[lodelcar]

FEMALE ENTREPRENEURS: A NON-NEGLECTIBLE ASSET IN REGIONAL DEVELOPMENT

Picture: Fashion shop in Tbilisi (Georgia) - female entrepreneur - own collection

1. Entrepreneurs are entrepreneurs, whatever their gender

The statement made above should be obvious. Economy is a universal principle and starting up and running a business is a competence that is not given to everyone. So: those who have the courage and perseverance to start and run a business should be supported and admired whether they are male or female. If business leaders still choose to expand their business and recruit staff and treat and reward them properly, they should be cherished by society, whether they are men or women. This is the theory; in practice things prove to be very different. Women all over the world still have to overcome obstacles that are almost absurd if they feel the entrepreneurial blood tickle. As a result, in a country such as Belgium, which nevertheless belongs to the OECD, only 1 / 3rd of the entrepreneurs are women. As a result, in most OECD countries, women-led companies find it much more difficult to get loans or venture capital than companies run by men. After all, 94% of the investors are men, which means that female entrepreneurs attract only 2% of the venture capital.[1]   The fact that it is mainly prejudices that play tricks on women is proven by the fact that women are much more likely to have crowdfunding. A context that is much less dominated by men and where women often achieve better results than men. According to research from PwC, 22% of the crowdfunding campaigns led by women achieve the stated goal, compared to 17% of the campaigns led by men.[2]

Women entrepreneurs, however, offer many advantages. After all, women go bankrupt much less quickly, because they have prepared their business plan more thoroughly and also because they (dare to) take fewer risks. Women entrepreneurs also have a number of human skills, such as empathy, cooperation and creativity.[3]  The American company Boston Consulting Group calculated that female startups raised 78 cents per invested dollar compared to less than half (31 cents) for "male".[4] Films starring female leads consistently outperform male-led films at the box office, according to a study from 2018 organised by the gender equality organization Time's Up.[5]

But are the differences between male and female entrepreneurs so different? American research by Illuminate Ventures, a fund that invests in tech companies and has an eye for but is not limited to start-ups with female founders, teaches us that there are more similarities between male and female entrepreneurs than generally assumed. Women entrepreneurs are no more risk averse than men and are also not inhibited more than men (on the contrary even) by the lack of financial security. The ambition to develop a company on a global scale scores equally low with both groups. [6]

2. Women entrepreneurs: an asset for regional development

Many studies have shown that there are a number of classic factors in a country or region that encourage entrepreneurship. In this regard there is the national or regional capacity for innovation that is reflected in the quality of STEM education (science, technology, engineering, and math ), the availability of venture capital and support from national or regional governments. More recent studies also point to social norms that support or reject entrepreneurship: are entrepreneurs praised or turned their backs on in the media, do the media pay a lot of attention to positive cases of entrepreneurship, is entrepreneurship considered an appreciated career and are opportunities for entrepreneurs described in daily life? The latter questions depend on a cultural background that is risk-supporting or risk-averse.  That culture varies from country to country and often has to do with its historical context. Countries in which wars were often fought are more risk averse. Countries with a strong naval past, both military and civilian, are more focused on trade and less on production. They make less of the link between innovative research and economic development. Some of the earliest organizations founded in the American colonies were colleges and institutions of higher learning for preachers, such as Harvard College and Yale College. It was no coincidence that these organizations were institutions of higher learning, rather than chartered trading companies or public houses.[7]

However, one element from the various studies convinced us of the advantage of supporting female entrepreneurship if we want to support regions with a less dynamic economic structure. Women have more modest goals and often opt for entrepreneurship to better combine work and children. In addition, many women deliberately keep their business small, so that they can avoid certain issues that come up with more personnel, such as employment law and management issues.[8] This does not necessarily have to be a disadvantage, on the contrary. Small-scale initiatives can be supported to grow gradually and are also more connected to a region.

In Romania, the regional option is reflected in the way the n.g.o. for the promotion of female entrepreneurship is organized: CONAF[9] is a confederation of provincial and local organizations. Every local association is supported by local entrepreneurs who spend part of their time promoting entrepreneurship and guiding women who want to set up a business. The Braşov division is led by Silvia-Daniela Pohrib, who, in addition to her accounting office, also conducts entrepreneurship courses for young people within the n.g.o. Mentalio and coaches women in their entrepreneurship.

Women are not only encouraged to become entrepreneurs, but also to acquire competences that until recently were considered to be a matter for men. In most European countries, the proportion of women in the computer industry is below 20%. As for the proportion of young women enrolled in higher education courses in computer science, it is currently below 10%, all regions and all levels combined. In Brussels, an Adult Education Center has been in existence since 1988 that focuses exclusively on women and focuses exclusively on introducing women into ICT and digital competences. The Center is called Interface 3. This non-profit association is recognized and supported by many private and institutional partners for the quality and innovative nature of its training. Each year nearly 400 women job seekers undergo training, short or long, initiation or specialization. The insertion rate at the end of qualifying training is 70%! The Interface3 training courses are designed for women wishing to integrate into professional life, to reintegrate themselves or to reorient themselves towards promising sectors (job-seeking women, long-term unemployed women, "returning" women). These programs focus on ICT but also on other requirements of today's professions: project management, language skills, ...[10]

Later in the article, we will also provide a series of examples of how cities and regions are often engaged by higher governments to use funds to promote female entrepreneurship as efficiently as possible. They in turn often work together with civil society organizations, in the West European sense of the word, in other words not politically bound.[11]

3. Typology of female entrepreneurs

The international consultancy firm Ernst & Young organizes an annual academy for promising female entrepreneurs from all over Europe. The description of the profiles of all participants can be found on the internet.[12]  From the description of the 54 candidates for 2016, 2017 and 2018, many conclusions can be drawn, both about the studies they did, the sectors in which they started their companies, whether they are active regionally, nationally or internationally and whether they are alone or with a partner when they started up their company.

Most of the female entrepreneurs have a master’s degree, some of them even a PhD. Of the 54 companies that are included in the academy, 8 are with two female partners. Some also have a male partner: husband, brother or fellow student. Several of the female entrepreneurs also belong to an entrepreneurial family and have continued the business of their parents, or have received financial and logistical support from the family when they started up or took over an existing company. About half of the start-ups work regionally, with one or a few stores or developed a consultancy company that has a regional impact. The other half is already working nationally or internationally, often out of necessity because the market in which they operate contains too few potential customers regionally. It is striking that among the 54 companies described, the female managers are very active in networks, by chairing professional associations or by other activities in which they can expand their network and introduce their customers. With regard to the sectors in which women entrepreneurs are active, it is noticeable that few women have found their way into traditional heavy industry or construction, with some notable exceptions. Many have been creative and have found themselves a niche in services such as marketing and market analysis, baby sitting, home & decor, groceries and gardening, recreation parks, education & didactics, risk management for the healthcare sector etc. In addition, they are active in typically female professions such as creation of lingerie, hair products, organic raw food bar, vegan shops, silk development, wedding clothing, organic cotton development, HR etc. And then there is, of course, the full range of ICT developments such as apps for care centers, for local nightlife, ordering of catering; cyber security, fintech, etc. An example among many is the Portuguese Susana Sargento. This entrepreneur, scientific researcher and professor at the University of Aveiro created in 2012 the technological Veniam together with João Barros, University of Porto. The company develops technology that enables the linking of cars to networks, turning them into Internet access points and collecting information on vehicles, for example to enable better management of traffic or public transport networks.[13]

It is also remarkable that in the list of companies that focus on the circular economy in Flanders, Belgium, we also have found very many female entrepreneurs active. For example, we find in the list a matchmaker between second-hand baby stuff and parents in school, subscription to children's clothing regularly in order to catch up with the childrens’ growth pace, an artisan who is able to recycle everyday materials into something new that looks professional and equally sophisticated, etc.[14]

The Brussels training center Interface 3, which we mentioned earlier, also set up an initiative with similar training centres in Europe called All Digital and which is supported by the EU. In October 2010, All Digital was formed into an AISBL (International Nonprofit Association) with the name Telecentre Europe and has taken up residence at Interface3's headquarters. New information and communication technologies represent a bridge to economic and social development. The mission of the All Digital network is to help its members improve their effectiveness and increase their impact through the exchange of information, knowledge and best practices. 30,000 Digital Public Spaces in 33 European countries and ten non-European countries are members of All Digital.[15]

These last years, people have started to find women more competent, intelligent, emotional and social, but not more ambitious, decisive and aggressive. This appears in an analysis of sixteen opinion polls from the period 1946 -2018, in which representative samples of a total of more than 30,000 American adults had indicated whether certain character traits are more prevalent among men or more among women. The research was published in July 2019 in the scientific journal American Psychologist [16].  The authors  looked at three clusters of qualities requested in the surveys. "Intelligent", for example, with "creative" and "organized" fell under the competence-related characteristics. Socio-emotional characteristics were, for example, "emotional", "honest" and "warm". And then there is the cluster that the psychologists identify with the word agency: properties such as "decisive," "arrogant," and "aggressive," related to goal achievement and power. Interestingly, people have started to find women more competent, but have not attributed more agency to women, and did not find women even more social.  Perhaps women are more intrinsically social than men and men have more intrinsic agency by nature. But another  way of appreciating these elements could be that perhaps social norms push them in a certain direction, away from jobs that require qualities that are typical of the opposite sex.[17]

4. How are women supported in their development as entrepreneurs?

Governments often undertake to encourage female entrepreneurship. In addition, cities and regional governments go further and deeper than national governments. After all, they are closer to the entrepreneurs and see the usefulness of their companies for the region more clearly.

The EU supports  initiatives combatting inequality and poverty in the framework of its regional development policy. In its yearly competition “RegioStars”, of which the awards are attrituted during the EU Week for Regions and Cities, one of the candidates for the RegioStars Award 2019[18] is the Irish WISE Project. WISE (Women's Integrated Skills & Employment) is a project running in Donegal, helping ladies return to employment, education or self-employment. There are dedicated Employment Advisers who provide the following services, CV building, cover letter & interview skills, job brokering, access to employment and educational opportunities, self-employment guidance, support confidence and motivational building and development opportunities. With funding available for short-term accredited courses.[19] The project, run by  People 1st Employment and Skills is funded for almost 300.000 € by the European Social Fund.

In Sweden the Swedish Agency for Economic and Regional Growth, was tasked by the Swedish Government to promote women’s entrepreneurship in the period 2007–2014. This decision came as a result of a study revealing that conditions for entrepreneurship are not equal for women and men who wants to start, run, lead and develop a business.[20]

In an article on the Blog Ochimusya Drive, we find an ode to the way that Sweden encourages female entrepreneurship, even if the entrepreneurs in question are not of Swedish origin, but tried to build a new life in Sweden. The author cites a Femtech start-up weekend in which 76 women having different backgrounds such as business / marketing design / UX or programming joined this event in order to work on their ideas and turn them into reality as teams.[21]

In Belgium, female entrepreneurship is supported both regionally and nationally. A national "Plan for the promotion of female entrepreneurship" encouraged valuable initiatives from regional non-profit organizations to propose projects. For example, the well-known non-profit organization Markant submitted the OnderneemstersDUET project. OnderneemstersDUET wants to bridge the difficult initial period of entrepreneurship among recently started women. They get a strong female role model as a personal mentor. Mentee and mentor form a nice "duet" for 1 year. Afterwards, the mentee needs to feel more motivated to manage her business in a solid way. In the course of the project, an eco-system between mentors and mentees is developed through various events, and the practical cases are published.[22] The Brussels non-profit organization H.E.R.O. pour le réseau Wowo received financial support for the WonderFullWomen project. WonderFullWomen is a project structured around the 5 instruments to promote female entrepreneurship: a mentoring program, a coaching program, inspiring TV clips, the only paper magazine intended for female entrepreneurs and events. The WonderFullWomen want to be a source of inspiration but also get inspiration to do business.[23]

In Germany, women entrepreneurs are supported in various ways by the regional authorities through the non-profit organization “Frauen Unternehmen” (WOMEN business). They organize in the first place the "Vorbild-Unternehmerinnen" (= Model Entrepreneurs). More than 160 role model women entrepreneurs are already supporting the "WOMEN business" initiative.[24] In addition, the same non-profit organization also organizes "Multiplikatorinnen & NetzwerkpartnerInnen" (=Female multiplicators and female network partners). In this specific project the Model Entrepreneurs work as volunteers 

·        -  with schoolgirls, they playfully explore what it's like to be your own boss, for example during class visits, as part of project weeks, career orientation days or at the annual Girls'Day. They support founder plan games or the foundation of student companies.

·        - with students and graduates they show that entrepreneurial independence is an attractive career option, for example by attending podium discussions, workshops and career days.

They support business plan seminars, entrepreneurship competitions or are individually prepared as mentors.

The Model Entrepreneurs participate also in regional events to inform women interested in founding a company about the advantages and challenges of self-employment. The events include, for example, female entrepreneurial tables, a series of events of the chambers of commerce and of municipalities or career and founding fairs. In employment agencies they operate in “question and answer" sessions  to show women new job and life perspectives in their career orientation.

Yet there are also numerous private initiatives. In Portugal we name the Chicas Poderosas movement, a project that was born in Latin America and whose mission is to give women skills related to technology that has spread worldwide. The Portuguese Mariana Santos is its founder. She is still the CEO of Unicorn Interactive, a digital content startup.[25] In the UK Veronica Costache, originary from Romania, has an advertising company RoComm. A part from that she also enables and coaches her fellow countrywomen to develop their lives, especially when it comes to entrepreneurship, under the umbrella organisation Romanian women in the U.K.[26]

5. Encourage women entrepreneurs

Female leadership is on the rise in Europe. In 2019, the Belgian organisation “Women on Board”[27] conducted a study together with the marketing research agency Profacts in which 80 percent of the Belgians say that if they start a business tomorrow, they would opt for a Board of Directors with as many women as men. 60 percent think a Board of Management without women is outrageous. In five areas, according to the Belgians, Boards of Directors with a third women distinguish themselves through a strong long-term vision, long-term sustainability, consideration of climate impact, better relationships with social partners and a clear diversity policy.[28] The fact that a woman, Ursula von der Leyen, was proposed to lead the European Commission and that another woman, Christine Lagarde, was nominated to become President of the European Central Bank, shows that European male politicians realize that there are talents available who are unused until now and who deal with leadership in a different way. And that a choice for women can have positive effects on the further development of the European Union. In this regard Air France made history by announcing that Anne Rigail will become the company’s next CEO — making her the first woman to lead a major airline.[29]

Studies have sufficiently demonstrated that women are just as good entrepreneurs as men and that by excluding them a lot of potential for job creation is lost. In many countries, policymakers have understood that women entrepreneurs not only create small businesses to support their families and escape the poverty trap, but because they have valuable ideas and view business and employment differently than men. The fact that they are often disapproved in conservative circles with the fallacy that they will never be able to combine their family duties with their entrepreneurship is being refuted by the facts in many countries. Women not only have the right to remunerated work because it is important for their self-deployment and self-conscience. Women can be both good mothers and good entrepreneurs. They must, however, be supported and not left to their fate. In the first place in the family circle.

The fact that female entrepreneurship is actively promoted and supported in many continents, countries and regions is based on the positive effects that female entrepreneurship can have on a family, municipality or region: they are reliable and productive, they are good with money, they are efficient distributors of goods and services within the household[30].

Louis Delcart, board member EAR-AER, www.ear-aer.eu

This article was written in response to the Improvement of Women Entrepreneurship with the EU project, which the European Academy of the Regions is implementing in collaboration with Ersiad Ankara between September 2019 and December 2020.

[1]

DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019,

https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers

/

[2] Wanneer vallen barrières voor vrouwelijke ondernemers weg? 16-10-2018 in MT.be, https://www.mt.be/business/wanneer-vallen-barrieres-voor-vrouwelijke-ondernemers-weg/6818

[3] DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019, https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers/

[4] Wanneer vallen barrières voor vrouwelijke ondernemers weg? (When will barriers for female entrepreneurs disappear?) 16-10-2018 in MT.be, https://www.tijd.be/opinie/column/weg-met-vooroordelen-tegen-vrouwelijke-ondernemers/10038347.html

[5] Morgan Gstalter, Women-led films outperform male ones at box office, in The Hill, 12/11/18, - https://thehill.com/homenews/media/420867-timesup-study-women-led-films-outperform-male-ones-at-box-office. The study analyzed 350 of the top-grossing worldwide films released between January 2014 and December 2017. Of the films studied, 105 qualified as female-led and 254 as male-led.

[6]Wanneer vallen barrières voor vrouwelijke ondernemers weg? (When will barriers for female entrepreneurs disappear?) 16-10-2018 in MT.be, https://www.tijd.be/opinie/column/weg-met-vooroordelen-tegen-vrouwelijke-ondernemers/10038347.html

[7] Valentina A. Assenova, Why Are Some Societies More Entrepreneurial than Others? Evidence from 192 Countries over 2001-2018, University of Pennsylvania, January 25, 2019, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3449762

[8] DE VOORDELEN VAN VROUWELIJKE ONDERNEMERS (THE BENEFITS OF FEMALE ENTREPRENEURS), An in blog Yarlini, 14-05-2019, https://www.yarlini.be/blog-de-voordelen-van-vrouwelijke-ondernemers/

[9] CONAF = Confederaţia Natională pentre Antreprenorat Feminin

[10] Interface 3: Centre de formation bruxellois pour femmes en recherche d’emploi (Interface 3 : Brussels’ training centre for women in search of employment) https://www.interface3.be/fr/interface3

[11] Louis Delcart, Stimulating local and regional ecobomic projects and technological innovation through financial incentives, in blog “Principles of regional approach”, 28-10-2018 https://lodelcar.tumblr.com/post/179513665875/stimulating-local-and-regional-economic-projects

[12] EY - Entrepreneurial Winning Women Europe Class of 2016, Helping outstanding women entrepreneurs think big and grow rapidly, https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2016; https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2017; https://www.ey.com/be/en/services/strategic-growth-markets/ey-entrepreneurial-winning-women-europe-class-of-2018

[13] 5 mulheres empreendedoras portuguesas que deves conhecer (5 Portuguese women entrepreneurs that you should know), in Universia Portugal, 25 de Junho de 2018  , https://noticias.universia.pt/emprego/noticia/2018/06/25/1160164/5-mulheres-empreendedoras-portuguesas-deves-conhecer.html

[14] Louis Delcart: Waste management and circular economy in Flanders – Belgium, in blog “Principles of Regional Approach” , 9-12-2018, https://lodelcar.tumblr.com/post/180955829970/waste-management-and-circular-economy-in-flanders

[15] All Digital: l’accès aux TIC pour tous (All Digital: Access to ICT for everyone), https://www.interface3.be/fr/text/all-digital

[16] Alice Eagly, PhD, Northwestern University; Christa Nater, MSc, Michèle Kaufmann, PhD; Sabine Sczesny, PhD, University of Bern; David Miller, PhD, American Institutes for Research: Gender Stereotypes Have Changed: A Cross-Temporal Meta-Analysis of U.S. Public Opinion Polls From 1946 to 2018, American Psychologist, published online July 18, 2019.

[17] Ellen de Bruin in: Vrouwen zijn slimmer, mannen bereiken meer  (Women are smarter, men achieve more), - de Standaard Avond, 9-8-2019

[18] https://ec.europa.eu/regional_policy/en/regio-stars-awards/#1

[19] https://ec.europa.eu/regional_policy/en/regio-stars-awards/2019/finalist?r=wise-project

[20] Swedish Agency for Economic and Regional Growth: Women's entrepreneurship, 5-7-2018 https://tillvaxtverket.se/english/womens-entrepreneurship.html

[21] Ochymusya, How female entrepreneurs are active in Sweden, posted 2/10/2017, https://ochimusyadrive.com/how-female-entrepreneurs-are-active-in-sweden/

[22] Plan ter promotie van het vrouwelijke ondernemerschap (Plan to promote female entrepreneurship), on website of Federal Ministry of Economy Belgium,  8-3-2019 https://economie.fgov.be/nl/themas/ondernemingen/een-onderneming-beheren-en/promotie-van-het/plan-ter-promotie-van-het

[23] Plan ter promotie van het vrouwelijke ondernemerschap (Plan to promote female entrepreneurship), on website of Federal Ministry of Economy Belgium,  8-3-2019,  https://economie.fgov.be/nl/themas/ondernemingen/een-onderneming-beheren-en/promotie-van-het/plan-ter-promotie-van-het

[24] https://www.existenzgruenderinnen.de/DE/Vernetzung/Frauen-unternehmen/MultiplikatorInnen/MultiplikatorInnen_node.html;jsessionid=69525D6284CDA6F6773BDA9104E3CA9D

[25] 5 mulheres empreendedoras portuguesas que deves conhecer (5 Portuguese women entrepreneurs that you should know) in Universia Portugal, 25-6-2018, https://noticias.universia.pt/emprego/noticia/2018/06/25/1160164/5-mulheres-empreendedoras-portuguesas-deves-conhecer.html

[26] http://madisharma.org/about-me/

[27] The Belgian non-profit organization "Women on board" ‘s main objective is to create a "pool" of talented women that can take mandates on boards of directors. Today the organization has 293 members.

[28] Françoise Roels, Vrouwelijk leiderschap is bezig aan een Europese opmars (Female leadership is on the rise in Europe) in: VRT Nws, 4-7-2019 https://www.vrt.be/vrtnws/nl/2019/07/04/vrouwelijk-leiderschap-is-bezig-aan-een-europese-opmars/

[29] Morgan Gstalter, Air France becomes first major airline to be led by female CEO, in The Hill, 13-152-2018 - https://thehill.com/policy/transportation/421330-air-france-first-major-airline-to-be-led-by-female-ceo

[30] Dr. Sarah Bradshaw, Dr. Joshua Castellino, Ms. Bineta Diop: Women’s role in economic development: Overcoming the constraints, Sustainable Development Solution Network, UN, 20-5-2013  http://unsdsn.org/wp-content/uploads/2014/02/130520-Women-Economic-Development-Paper-for-HLP.pdf

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Speech: Culture Secretary's speech at Bazalgette Review launch has been published on Energy Solutions News

New Post has been published on http://www.energybrokers.co.uk/news/beis/speech-culture-secretarys-speech-at-bazalgette-review-launch

Speech: Culture Secretary's speech at Bazalgette Review launch

Thank you to Sir Peter for his hard work in completing such a broad, thorough and thought-provoking review - some really interesting and bold recommendations for both industry and government to pursue, and across a very wide range of areas. And made much more interesting than a normal review by the quotes across the document which are drawn from British creative life. I can certainly relate to Kate Tempest’s call to action - “move fast, don’t stop, you got things to do” - as I’m sure you all can too.

And thank you to you all for making time to be here at such short notice. Turnout at a few days notice shows how much passion and commitment there is in relation to this subject, and how much interest in hearing what Sir Peter has to say.

That we are here today is testament to the importance of the creative industries to the UK - increasingly recognised across government as a key sector of the economy. This is partly about a sector holding its own with more traditional industries such as manufacturing - industrial policy is no longer just about widgets and hardware. It is also too about a sector holding its own with tech and other celebrated growth sectors.

Now - as Business Secretary, Greg has to be even-handed across the economy. As Culture Secretary, I can be a little more partisan. To underline just how important creative industries are to the UK economy, Creative Industries Federation analysis of PwC data suggests that they deliver four times the GVA of the automotive industry, six times as much as life sciences and nearly 10 times that of aerospace. Between 2011 and 2015, the sector created three times more jobs than the economy as a whole. The UK is the third-largest exporter of cultural goods and services in the world – just behind China and the USA. I spend a lot of my time reminding my Cabinet colleagues of these kinds of fact.

But they matter too for Britain’s place in the world – our values, soft power and influence. Creative Industries are in many cases at the very forefront of how the world perceives us. Whether it be music, film or design, they strengthen the UK brand, adding impetus to our growing creative content and services presence around the world, strengthening trading links in key emerging economies and influencing wider perceptions of the UK.

And they also matter intrinsically. They produce the things that enrich lives and give them meaning. That’s true of the ‘content’ sub-sectors of the Creative Industries - TV, film, games, music, publishing, fashion. It’s also true of the services side – the architecture that RIBA, our hosts today, do such fantastic work to promote, the design that creates our products, the advertising that influences our desires.

I hope it is clear to you that Government is committed to supporting the Creative Industries – for example, through the creative sector tax reliefs, which paid out over £600 million last year alone, securing in return nearly £2 billion. And more broadly in securing the best possible outcome for the sectors as the UK prepares to exit the European Union and looks to do trade deals around the world.

But there is still more to do - and that’s what today is all about. Creative industries in Britain and beyond face both real challenges and opportunities. Much of that is driven by technology and changing patterns of consumer demand. The “D” word - Digital - is now at the heart of the DCMS as the Department of Digital, Culture, Media and Sport. It is transforming the whole economy, but bears strongly on the Intellectual Property-rich, small and micro-dominated businesses that make up much of the creative industries. But change also arises from policy landscape - for example, the opportunities presented by the Government’s Industrial Strategy, and its clear focus on place, inclusive growth and rebalancing the economy.

And that’s where the sector deal comes in. As Greg has said, the Government has essentially asked business to make it an offer it can’t refuse. In the words of the IS Green Paper there is ‘open door challenge to industry’ to be ‘driven by business to meet the priorities of business’. It seeks ‘a clear proposal for boosting productivity’ in order to ‘drive growth right across the United Kingdom… creating more high-skilled, high paid jobs and opportunities’.

We have a once-in-a-Parliament opportunity to capitalise on this through the promise of a sector deal.

In devising a deal, the Creative Industries have made good progress so far thanks to the work of the sector and of course Sir Peter’s independent review, which we will hear about in a minute.

We have a down-payment today with the announcement of the AHRC funding for research and development partnerships across eight creative clusters.

The key challenge now is turning a lot of compelling ideas, at varying stages of development, into a tangible agreement. An agreement which is credible and has buy-in from both Ministers and the industry.

There is definite appetite in Government to land an ambitious deal and this review is a really valuable input. But there are also real constraints – not least financial. As you would expect in a time of continued austerity, the bar to new Government money is very high. The starting point is spending existing resources better.

There is also time pressure. As ever with these things it is more important to get it right than to get it fast. But we also want to get on and reach an agreement as quickly as possible, taking advantage of the platform the Industrial Strategy provides. Success will depend on the commitment behind the offer from industry, and how that fits with the strategic challenges set out in the Industrial Strategy Green Paper.

So I encourage Creative Industries leaders to continue to work together and wow Government with a compelling proposal. As the statutory sector body, the Creative Industries Council will lead negotiations on the deal - and I pay tribute to Nicola Mendlesohn who has done a fantastic job as chair - with critically important input from the Creative Industries Federation, under John Kampfner’s outstanding leadership, as well as from others across the sector. We are keen for those discussions to move forward.

Times are challenging but the prize is big so let’s be bold and ambitious; do what you do best - thinking creatively! - so we can deliver real change that takes the UK’s creative industries to the next level of success.

I am now delighted to hand over to Sir Peter to tell you about the detail of his review.