In a recent article published on dw.de, it was mentioned that the reason the U.S.A. are ahead of Europe when it comes to developing start-up companies was because of the 'single digital market'; i.e. one currency, one language, one country. As well as this, because Europe is mainly full of big businesses rather than small ones who employ a number of young people, there is a slight inferior complexity attached to launching a start-up in Europe. We may be small in numbers, but haven't you read David v. Goliath?
Paris, along with Berlin, have become popular non-English speaking locations for people to set up their own businesses. Considering that both have quite a young working population in comparison to the rest of Europe, this does not come as a surprise. For a better idea, the guys over at Venture Village posted a cool infographic on the number of start-ups in Berlin. Outside these major business hubs in mainland Europe, a place not so far from them with a fraction of the population has been both a desirable place for people to set up European bases as well as start their own businesses. Oh you haven't guessed already? I'm talking about Dublin. Yes, the Fair City has fast become a tech port for Europe, with Facebook, Twitter, PayPal, DropBox, Microsoft and LinkedIn all having their major offices there. For more on this, check out the video MakeITinIreland posted:
So as you can see, things aren't all that bad in Europe. Ireland in particular is attractive not because of the green, green grass, nor the Guinness, but it's actually for the low Corporation Tax. This makes it a lot easier to set up operations there, and makes it more favorable to other countries where the Corporation Tax is not as low. Yes, it may have been hit quite severely by the recession, resulting in a lot of price hikes and people being more careful with money. But on the contrary, history has proven that people become far more experimental in recessionary times, and are willing to take more risks as there is more of a ''nothing to lose'' attitude.
The way we do business is evolving rapidly, but it is up to us to make use of emerging technologies, and embrace them rather than reject them. Unfortunately the majority of Europe is still suffering from the economic downturn, and we continue to drag our heels, according to OECD.
We are not turning the Daily Dash into an obituary, however we wanted to give our two cents on the situation. The good thing is, Europe is becoming better connected, and if we can work in tandem with each other, we can prove ourselves as worthy contenders to Silicon Valley.