Ross Keating’s Post

The NSW Labor Government has serious red flags when it comes to supporting (let alone leading) our state's economic growth. Here are some high(low)lights from Friday's Budget Estimates with the NSW Minister for Trade and Industry, Innovation, Science and Technology.... 🚩1. Our Trade Minister didn't know the value of NSW exports (either as a $ figure or as a %). 🚩2. The Labor Government has walked away from the NSW Trade Statement and we now have no export goal (it was $200bn by 2031, but the Minister didn't know that either) and no plan for trade growth. 🚩3. The "Innovation Blueprint" discussion paper has taken 10 months to release and is 1.5 pages long. 🚩4. Many MVP Ventures Grant applicants are still waiting for a decision on a significantly reduced $ grant (the Department said it would take 15 days, but it was 2 months at the earliest and some are still waiting at 3 months). 🚩5. The Minister couldn't provide any information about when a so-called "industry strategy" would be announced. 🚩6. There will no longer be a dedicated advanced manufacturing strategy for NSW. 🚩7. The Minister couldn't answer whether he speaking to the Planning Minister about the Advanced Manufacturing Research Facility in Western Sydney. #innovation #startups #entrepreneuship #trade #scienceandtechnology #NSWpol

**Administrative simplification for SMEs: Aligning with European standards** Political parties in Wallonia (MR & Les Engagés) are proposing reforms to reduce the administrative burden on SMEs. However, it’s time to move from small-scale measures to a systemic solution: aligning Belgium’s SME definition with the European Union’s standards. Currently, Belgium defines an SME as any company with up to 50 employees, which imposes heavy administrative obligations on many businesses (social elections, works councils, Federal Learning Account, etc.) on thousands of Belgian family businesses that are still small (50+ employees) but have many of the same administrative obligations than stock-listed companies. At the European level, the criteria are broader: an SME can employ up to **250 people** and have an annual turnover of up to **€50 million** or a balance sheet total of up to **€43 million**. By aligning our SME definition with that of the EU, we could allow many more Belgian companies to benefit from the administrative relief they need to focus on their core activities and growth. It is crucial to simplify the entrepreneurial environment in Belgium by adopting standards that match economic reality, while remaining competitive on a European scale. Georges-Louis Bouchez this is for you! 🤗🙏 #SME #AdministrativeSimplification #Entrepreneurship #Economy #Europe #BelgiumPolitics #MR #LesEngagés #Wallonia #Competitiveness

Unpopular opinion: Innovation isn't the real issue... Commercialization is. Sorry, eh. Kudos to the Federal Government for continuing to support innovation in Canada. Ensuring that there are funds available to the market to continue building game-changing stuff is great. The fact is this is something we are way behind on relative to our OCED counterparts. Innovation, Tech and AI all get a lot of press these days and some of it is definitely well-earned. BUT... and here's the tough part. We suck at selling our stuff at all levels. Many entrepreneurs don't invest enough time and effort thinking about their Product-Market fit. Some get lucky when they go-to-market, and some don't, but virtually all of them wildly under-invest in Sales and Marketing to our collective detriment. Very few innovation-focused entrepreneurs spend the time it really takes to figure out how to position and sell their stuff. To make matters worse... that's really, really hard these days. It's always been hard, but never more than now. Compounding the problem... these entrepreneurs are listening to sales "experts" who haven't kept up with the times, who think what worked in Innovation / Tech Sales in 2015 is still applicable and the answer to that is a resounding... NOPE. Buyers, both domestic and global, have changed in both demography and sophistication. The Buyers we should be talking to know as much, if not more, about the problems we solve and what they need. So, Canadian entrepreneurs need to be WAY more focused on the needs of these Buyers and figuring out how they buy. Then we need to be much more aggressive in pitching and selling our stuff. In fact, having worked with entrepreneurs in the US and Canada... our Canadian-ness can get in the way. We're too nice, too slow and too timid. Some of that is definitely culture and some of that is not really seeing the nature of global competitiveness including the changes I just mentioned above. There's also too great a focus on unicorn building. Sure, swing for the fences... sometimes, but let's set up our business models to be more sustainable, sales-focused and profitable as part of that go-to-market. Yes, innovate and invest in it, but sell stuff and make money as Priority 1B. No Sales... no Marketing... no Business. #entrepreneurs #sales #marketing #innovation #commercialization

In Atlantic Canada, government at all levels, academic institutions and economic development organizations are working together to build lasting growth and prosperity. By working together, we’re connecting entrepreneurs in the region with the right resources, helping them adopt new technologies, reach new markets, and expand their businesses—boosting success for everyone. Read the new Atlantic Momentum report: https://ow.ly/43Nw50TXZCO

SMEunited President Petri Salminen calls on #entrepreneurs in Europe to go and vote. For strong #SMEs, a competitive economy and a functioning society, we have to use our vote. Even if Brussels and Strasbourg may seem far away, the decisions made there have a direct impact on our life. Because the rules that are set in the EU have a significant impact on the everyday lives of people and businesses.  This European election is about a lot: we are facing major challenges that can only be overcome with a strong European community and a strong #SME family. One nation alone cannot do it. We can only master the future together! As entrepreneurs, we need representatives in the European Parliament who have the interests of small and medium-sized enterprises in mind. Making sure members of Parliament think from the perspective of SMEs is a task that every entrepreneur can fulfil: at the #EuropeanElections this weekend from 6 until 9 June! This European election is about us: every #entrepreneur decides with his or her vote how things will progress in Europe and how Europe will become even better. It's time to vote! #SMEs4Europe #EUElections24 #UseYourVote

𝗘𝗗𝗘𝗡 𝗦𝗔𝗛𝗟𝗘: Addressing the unemployment crisis requires multi-layered solutions. Investment in small businesses, entrepreneurship, infrastructure, and education are essential steps while encouraging e-commerce, foreign investment and outsourcing jobs. Read more https://ow.ly/Tj4I50U2Zk4

Boosting Canada’s Economy: The Canadian government’s Budget 2024 is set to enhance productivity and innovation, creating lucrative opportunities for business investors. Key initiatives include: Canadian Entrepreneurs’ Incentive: Lowering capital gains tax inclusion rate to 33.3% on up to $6.25M, encouraging tech and manufacturing sector growth. When fully implemented, this incentive, combined with the lifetime capital gains exemption, provides entrepreneurs with a combined full and partial exemption of at least $3.25M. This is particularly beneficial for entrepreneurs with eligible capital gains of up to $6.25M, making Canada an attractive destination for innovation and investment. Accelerated Capital Cost Allowance: Reducing costs for businesses investing in productivity-enhancing assets. Regulatory Sandboxes: Cutting red tape to accelerate innovation. Federal Research Support: $5B investment in research facilities, grants, and education. Venture Capital Catalyst Initiative: $200M to support underserved entrepreneurs. These measures aim to foster a thriving business environment, making Canada an attractive destination for investors. #foreigninvestor #Canadainvestment #canadapr #businessimmigration #CanadaBusiness #Innovation #Entrepreneurship #InvestmentOpportunities #EconomicGrowth #TechIndustry

Yesterday, I attended the prime minister's lunch organized by Business Canterbury. Christopher Luxon spoke about the economy, his work in the past year and hopes for the future of New Zealand. He gave us context on how he has been seeking inspiration from equivalent countries and analyzing their growth. In short, he had an ask. He encouraged the government, the public and the business community to work together to solve the hardest worldwide issues we can think of. He also encouraged business owners and founders to think past New Zealand when creating a business strategy and that NZ exports should be more than its people. To support this effort, he has been working on educating the younger population and increase the level of expertise within the country. He has worked on reducing the amount of red tape in government in a way that produces results and much less talk. He is looking into what infrastructure is needed to support NZ's growth and to make it appealing for overseas talent. Finally, he has been talking to international market representatives and investors to understand their needs. I am not a political person, and find it interesting how leaders communicate their ambitions and needs from the community. I am sure there will be some that disagree with his ask or their realities are different to even start thinking about exports. So context, is really important and again as a leader, he is doing the best he can with the information he has got. Personally, I felt inspired to think bigger and would like to see what funds/programs are put in place to support his ask from us. #NZ #business #export #entrepreneurship #education #infrastructure

‘Wise is single minded in what he wants: policies that will turn the UK into a country that nurtures & promotes entrepreneurship’ My interview in CityAM today on my book, Start-Up Century & how the UK can utilise our strongest national asset: ambition. While the campaigns’ have covered many important issues, the challenges entrepreneurs & SMEs face didn’t get the airtime it deserves. So here’s my last effort to get those policies up the agenda on election day! This should be a priority for whoever forms the next Government. https://lnkd.in/ePb9jAuK

"This isn’t just about bigger companies. What incentive is there for small to medium-sized companies, entrepreneurs and innovators to scale up, commercialize, or incorporate in Canada if the government imposes a ceiling on success?" asks Goldy Hyder, chief executive of the Business Council of Canada. He offers options for government actions to encourage business investment in Canada, and Canadian investment in business. #canadianbusiness #familyoffices #CanadianFamilyOffices