“Keep taxes low and regulations minimal”
The Free Market Road Show, the travelling libertarian event that will visit thirty cities across Europe, stopped in the capital city of Macedonia.
Successful entrepreneur and angel investor John Chisholm spoke about the specific features of Silicon Valley and how to replicate its model in Macedonia and the Balkans. He firstly made clear that something like Silicon Valley can not be created out of the blue or designed. “Silicon Valley has arisen organically”, remarked Chisholm and continued, “it is an interconnected ecosystem of small, medium and large companies”.
Chisholm also emphasized on the importance of low taxes and light regulations for everybody. “Keep taxes low and regulations minimal”, stressed the investor.
What can places like Skopje do to enhance their human capital? Chisholm proposed three paths in parallel: 1) encourage people to acquire their technical skills using the free offer that already exists on line; 2) encourage these people to start businesses using these skills and; 3) promote those skills to multinational corporations.
An excellent role model for countries that want to develop and an actual example where these proposals can be found is in South America. “In Chile, you won’t see many huge industries; you will see a very healthy, stable, and robust ecosystem of small businesses”, asserted Chisholm.
Ivan Jovetic also dealt with the issue of how to boost entrepreneurship in Europe. “Entrepreneurship has to be taught differently. It is not a technical issue. Teaching it should be focused on the creative side of business”, stated the university professor who is applying these ideas in the University of Donja Gorica (Montenegro).
And Jovetic continued: “We have to create links among young people and those who can support them, such as angel investors. That is why we organize certain events such as the ‘entrepreneurial ideas stock exchange’. This was revolutionary for Montenegro”.
The Austrian Economics Center (AEC), in cooperation with the local partner Iustinianus Primus Law Faculty Skopje, and in association with international partners such as the Liberty Fund, Global Philanthropic Trust, European Students for Liberty, Ruefa and the F.A. v. Hayek Institut, proudly organized this event in Skopje. This was the twenty fifth stop of the 7th Annual Free Market Road Show® which tours from March 26th to May 12th. 30 cities, hundreds of speakers, thousands of attendees and one message: Freedom.
More photos from Free Market Road Shows 2014