ALEXANDRIA, Va., July 1, 2013 /PRNewswire-USNewswire/ -- Fourteen American entrepreneurs returned from Moscow as delegates of the G20 Young Entrepreneurs' Alliance (YEA) Summit. Held from June 15-17, 2013, the Summit highlighted how entrepreneurs are addressing the global economy's most significant economic challenges. The Official Communique of the Moscow 2013 G20 YEA Summit is the voice of more than 1 million business owners who are recommending youth entrepreneurship as a dominating force for strong, sustainable and balanced growth, the central subject of the G20 Leaders' Summit to be held in St. Petersburg in September 2013.
The recommendations summarized in a final Summit communique were presented to the B20, and on to Russian President Putin, primarily focus on the following:
- Need to develop digital infrastructure. Young entrepreneurs are the most active group in terms of both starting up businesses and using the latest digital technology to help run the business and optimize business processes;
- Importance of developing educational programs for entrepreneurs. Advancing the entrepreneurial culture, and streamlining government funding for "green" technology studies;
- Need to ease the tax burden. In the fields of scientific-technical programs and social entrepreneurship, namely the taxes imposed on employers and employee income tax;
- Access to funding for start-ups and emerging companies. Ensuring funding on easy terms, changing banking requirements, developing rules for new forms of funding, including cross border online platforms, investors' and entrepreneurs' networks.
At the Summit, more than 400 dedicated and influential entrepreneurs identified how government and business communities can best harness the potential of young entrepreneurs as drivers of job creation, innovation, economic growth and competitiveness. In addition, in-depth research reports from Ernst & Young and Accenture were revealed, providing new data and thought leadership on the state of entrepreneurship around the globe and recommendations for G20 governments to support entrepreneurs.