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Estonian business environment

Estonian business environment. Kaupo Sempelson Enterprise Division Ministry of Economic Affairs and Communications. Country review and macro-eonomic framework. 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2102-2013 Switzerland 2 2 1 1 1 1

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Estonian business environment

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  1. Estonian business environment Kaupo Sempelson Enterprise Division Ministry of Economic Affairs and Communications

  2. Country review and macro-eonomic framework

  3. 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2102-2013 Switzerland 2 2 1 1 1 1 Singapore 7 5 3 3 2 2 Finland 6 6 6 7 4 3 Sweden 4 4 4 2 3 4 Netherlands 10 8 10 8 7 5 Germany 5 7 7 5 6 6 USA 1 1 2 4 5 7 United Kingdom9 12 13 12 10 8 Denmark 3 3 5 9 8 12 Norway 16 15 14 14 16 15 Estonia 27 32 35 33 33 34 Poland 51 53 46 39 41 41 Lithuania38 44 53 47 44 45 Latvia 45 54 68 70 64 55 World Competitiveness Ranking Sourse: World Economic Forum

  4. Key macroeconomic indicators 2011-2016 Source: Statistical Office of Estonia, Ministry of Finance (31.08.2012) *forecast

  5. GDP by Economic Activity, 2011 Source: Statistical Office of Estonia

  6. Structure of Manufacturing Industry 2011 Source: Statistical Office of Estonia

  7. Use of ICT • E-government • E-Tax Board • E-elections, • Digital signature • E-billing • Mobile parking, • Mobile payments • Online company creation • Digital prescription • 90% electronic transactions, 88% of the population using Internet banking • Submittance of annual reports electronically in Commercial register • Census 2011, more than 60% of population counted electronically

  8. R&D expenditure by sector Source:Statistical Office of Estonia

  9. European Innovation Scoreboard 2011 Source: European Innovation Scoreboard 2011

  10. Exports by Main Commodity Groups (9 months, 2011-2012) Source: Statistical Office of Estonia

  11. Tourism Services Source: Bank of Estonia

  12. Starting a business

  13. Company Registration Portal

  14. All you have to have: • Computer • Internet access • ID-card • ID-card reader • Valid PIN passwords

  15. E-business register data exchange

  16. e-Business Register It works! Centre of Registers and Information Systems We can use this knowledge in any Internet portal World record Proof of concept First in EU Know-how Free license Innovative Supporting single market 18 min 3,5 sec Co-operation Single points of contact Cost saving Co-operation Secure Improves Estonian business environment Efficient Saves time

  17. Estonian Start-up Scene • Ca 15 000 newcompaniesestablishedin 2011 • Largest number ofstart-upspercapita • Tallinn asemergingstart-uphubhasfoundsomerecognition: • Wired, WallStreetJournal • Locationfor MIT GlobalStart-upWorkshopin 2012 • The 2008 financialcrisiswasanextraboost • Keyfocusinthenearfuture – makethemgrowfast

  18. Existing pieces @2009-2010 Business competition: Ajujaht Subordinated loans Incubation programs, accelerators Export grants Start-up grants, guarantees R&D grants VC funding: Estonian Development Fund VC funding: Baltic Innovation Fund Knowledge transfer Bits and pieces are there but few of them with really global growth company ambition

  19. Start-up Estonia – „umbrella“ program for high-growth start-ups Pre-seed phase Seed phase Start-up phase • Generation of biz ideas, developing biz cases, providing entrepreneurial challenges for students • Work with university’s intellectual property • For example: • Biz competitions for wider audience • Entrepreneurial, inspirational lectures • bootcamps, etc • Validating the biz concept • Building the prototypes • For example: • “Start-up academy”, intensive mentorship-acceleration program • Incubation programs • Lectures and training on specific topics • Accelerating the most promising companies • Internationalization • For example: • business accelerators (like Vigo) • International networking projects • Biz missions to target markets

  20. AB reduction • Target 20% for 2014 in four sectors (permits and licences, environment, socialand construction/planninglaw) • E-annual year reports – 29,7% reductionachieved • Webcalculator for publicadministrationservants – http://hkm.mkm.ee • Video aboutweb-calculator- http://vimeo.com/35253754

  21. TOP 10 problems of SMEs Share of companies saying this problem is a primary or secondary, SME survey 2012, Praxis (to be published) • Hightaxburdens (56%) • Problemstofind a market (43%) • Delayedpaymentsfromcustomers (39%) • Bureaucracy (38%) • Access tocapital (34%) • Access tolabour (27%) • Skillsofworkforce (24%) • Findingforeigntradepartners, accesstoforeignmarkets (22%) • Problemswithsupplychain (21%) • Lowproductivity (17%)

  22. New enterprise and innovation policy 2014-2020

  23. Potential focuses/growth areas 1. ICT 2. Health services 3. Machinery 4. Logistics 5. Chemistry products 6. Innovative house construction 7. Wood enhancement and products 8. Functional food

  24. Lines of action

  25. Estonia-Latvia cooperation • Estonia-Latvia total trade turnover was EUR 2.32 billion - exports 0.96 billion and imports 1.36 billion EUR. Exports grew 23% and imports 34% (2011). • Tourism between countries has been risen last years. • INTERREG programs • Cooperation between local governments • Estonian export to Latvia – food and drinks, machinery-equipments, minerals • Latvian export to Estonia - mineral fuels, food and drinks, machinery-equipments, chemistry products • Latvia is 4th trade partner to Estonia

  26. Questions and answers Thank you! kaupo.sempelson@mkm.ee www.investinestonia.com www.tradewithestonia.com http://business.tartu.ee

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