*published on http://blogs.ec.europa.eu/promotingenterprise/

This is the first in our series of blog posts presenting our winner and finalists of the Youth Essay Competition, which was held as part of the SME Assembly 2016 which took place from 23-25 November 2016 in Bratislava, Slovakia. Today we get to know one of the runners up, Francesco Foglia, a journalist in European Affairs based in both Brussels and Italy. He is currently studying a Master in Business Administration and has been active on the European youth scene, through participating and winning youth competitions, and in 2015 founding a think tank on European regional policy in Italy.

Francesco shares what drove him to participate, his experience at the SME Assembly 2016 and finally where he thinks the world of SMEs and entrepreneurship will be 10 years on, in 2026.

What made you enter the SME Youth Essay Competition?

Every time that that young people have the opportunity to attend and participate in the debate of European policies, especially the sharing of ideas and proposals, I believe that it is necessary to participate. Young people very often ask to have their voices heard but then escape the discussion. When I decided to enter the contest I was studying business law and I noticed that there was no European youth company legislation. As such, my entry was my proposal for setting up the framework, with many features that could foster youth entrepreneurship in Europe.

What did you think about the SME Assembly 2016?

The SME Assembly was a great opportunity to learn from within the world of European SMEs, the current state of affairs and future scenarios. I also took part in the inaugural lecture, held by Professor Philippe Aghion and it was really exciting. The assembly also offered useful networking moments, as well as high-level workshops.

Looking 10 years ahead from now, in 2026, what do you think entrepreneurship will be?

The world is changing and of course so is the economy and entrepreneurship. Between now and 2026, an important demographic growth is expected, which is one of the key factors that will drive change. There will be more people, more needs to be met and probably more entrepreneurs. SMEs must, therefore, be of a proper size to meet the dimensional challenges to serve more diverse markets. The internet of things and future innovations will affect the speed at which there will be this change compared to now. I hope, however, that the most dynamic economy is shared, and that it serves to reduce inequities in our communities.