It is indeed a great pleasure to be here today to welcome the Junior Achievement "Business of the Year 2023" Awards Ceremony. I am also particularly pleased to have the opportunity to publicly congratulate the members of the Board of Directors, as well as everyone in the Junior Achievement Cyprus team, on the 10th anniversary of the Organization.
Friends,
Today our country is still experiencing, like the whole world, one of the biggest crises of the last decades, both energy and economic, as a consequence of the pandemic and the war in Ukraine. However, Cyprus, by taking a number of measures, manages, despite the challenges, to maintain one of the highest economic growth rates in the EU.
In order to support the sustainable growth of our economy and to increase its competitiveness, we need to invest, with even greater intensity, in entrepreneurship and innovation. To this end, we must make the most of the opportunities offered by technological upgrading, digitisation, circularity and green energy, precisely to upgrade our existing businesses and create new ones. By extension, it will also make it possible to create new innovative products and services, especially in high value-added sectors, as well as new jobs.
It is worth mentioning here that every year SMEs in Europe create more than 4 million new jobs. In the European Union, 23 million SMEs provide around 75 million jobs and account for 99% of all enterprises.
I therefore reiterate that the diversification of our economic model and the shift towards entrepreneurship and innovation are now a one-way street.
We, at the Ministry of Energy, Trade and Industry, take the above seriously and for this very reason, we are implementing Sponsorship Schemes aimed at directly and indirectly supporting businesses and our manufacturing sector. Specifically, for the 2021-2027 Programming Period, we are utilising European resources of more than €500 million, of which more than €200 million are intended for the development of the competitiveness of Cypriot enterprises.
Ladies and Gentlemen,
In line with what I have mentioned, a very important role in achieving our objectives is also played by the cultivation of an entrepreneurial culture and the education of our young people in entrepreneurship. According to studies, 15% to 20% of students who participate in an entrepreneurship programme will later start their own business.
We must therefore educate our young people, starting, of course, at school. We need to help them acquire the right skills and inform them about the prospects and opportunities offered by entrepreneurship, whatever their field of study and specialisation.
Junior Achievement's programmes do just that. They educate, inform and, above all, provide skills such as critical thinking, initiative, perseverance, teamwork, understanding of risk and a sense of responsibility - all elements necessary not only for the development of an entrepreneurial idea, but more generally for our young people to be able to deal effectively with the challenges of their daily lives.
This is essentially the purpose of the Student Entrepreneurship Programme that we are awarding today. It gives our teenage students the opportunity to develop their skills in different fields, to showcase their personality, to get in touch with other children and to experience the world of entrepreneurship, presenting products or services with innovative features, environmentally friendly and responding to specific social needs.
Friends,
As a Government we continue to work with determination, always in cooperation with you - our close partners and our future entrepreneurs, to provide real help and support to every business that is struggling to maintain its market position and survive, while meeting its increased obligations.
In this context, the role of the private sector is crucial, since without its contribution, any initiative on our part will have no effect. The effort is common and we must all work together in order to support the young entrepreneur.
I conclude by thanking and congratulating Junior Achievement Cyprus for its actions and activities as an organization that addresses and supports the cultivation of an entrepreneurial culture among our young people.
Finally, I wish good luck to the candidates, expressing my sincere congratulations to all those who participated in the "Student Enterprise" programme. Keep creating and translating your ideas into action.
Thank you.
(GA)
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Views & opinions expressed are those of the author and/or PIO
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