“We can already see a light blue stripe on the horizon as economies are starting to recover, as our entrepreneurs are again back to business with new grand ideas and innovations: green industries, new waste to” energy and environment protection technologies, health care facilities, products and services, fight against the climate change, ago-industry are only some examples of many others.” Path breaking findings: entrepreneurs contribute measurably to employment and gross domestic product – GDP (PPP) recent empirical research (entrepreneurship and the business cycle, Prof. P.D.. Kaka201, and Prof. A.R. Thurik, Erasmus School of Economics, Erasmus University, Rotterdam), based on the global entrepreneur monitor (GEM) reports and those of the World Bank could prove the first time in history that SMEs measurably contribute to employment and gross domestic product (GDP/PPP). In business, SMEs represent important source of innovation and for Governments they contribute to wealth creation and generate tax revenues. SMEs constitute to important source of local supply and service provision to larger corporations. Constraints of SME financing in times of crises are so the reason why entrepreneurs are forced to discontinue their businesses with all the negative impacts on employment and GDP growth”, said Norbert Kapoor, Secretary of the Conference and Professor of economy and fiscal policy of US University.
The transaction levy and micro finance: tools for crisis prevention and SME development Knoll-Jess’s prediction at the conference: SMEs cannot rely alone on Government help and financial support in times of crises. Faced with huge budget deficits and public anger, almost all counties in the world, including the US and the countries of the European Union will have to impose a financial transaction levy soon, based on the proposal of the Nobel Price laureate James Tobin. The revenue generating potential of a levy is tremendous. A tiny levy rate 0.005 would generate proxy. $15 billion per year, of which a substantial amount could be allocated to promote international economic development and prevent Mmes.