Growing Online – Malta
15 July 2016
Therese Comodini Cachia, a Member of the European Parliament for Malta, conducted the today’s meeting in Malta in cooperation… with Google. The experts from Google offered a training programme for the Maltese SME sector on how to develop the enterprises’ business activity online. The purpose of the event was to improve the participants’ abilities to take advantage of digital tools and to help them develop innovative business models. It is hoped that the training will contribute to the development of Malta’s economy and to the creating of new and better jobs.
The digital is everywhere, for everybody, and everything becomes digital. It is trivial, but it is true. So, the digital revolution is the game changer. It is important for all of us. It is key for the business future. There is no a problem of the ICT sector development. There is a question of ICT in all sectors. Of course, it matters on entrepreneurs and the entrepreneurial skills and the spirit.
Can we describe the digital entrepreneurial spirit – needed in the digital era ?
What are the key issues ?
First of all, the entrepreneurship is always the engine for growth and development – generally speaking: all over the world, not only in US or Europe. To create the stronger entrepreneurship requires some drivers, and at the area of digital challenges – requires, I agree – the new mentality.
THE FIRST DRIVER: NEW MENTALITY
This new mentality should be aimed at: openness for collaboration and for sharing, focused on innovation, and user centric business.
Just one example.
The new digital economy is driven by data. So, it is important to understand the data development in the modern world. 90% of data present in the Internet was established in last two years. We can collect many kind of data, process them, analyze, transfer, use and re-use. They are useful for better products and services, they are playing the key role in the personalization of products, goods and services offering online. But, when we use the personal data – we need to fulfill requirements related to the data protection rules. The same is, when we are delivering something, the digital content for example – to the consumers using the counter performance model in congrats with suppliers.
As case presented above – shows us, the new digital world needs rules – understandable for suppliers, entrepreneurs, users, consumers. So, what kind of framework is needed – regulatory and non-regulatory ? It is better to have flexible rules, than strong regulations. Why ? Because, in the competition between the technology and legislation – technology will always win. Technology is faster. So – it is better to use „soft law”: codes of conducts, co- and self- regulation schemes, guidlines, partnerships etc. For the fastly growing business it is crucial.
But, this model of framework is much more close to the American business culture, to US patterns. It requires from the business side – more activity and responsibility, more collaboration. In Europe, very often – we prefer the strong regulations, thinking that they can ensure the stability and the certainty. In that sense, our European entrepreneurial mentality in majority – is not ready for uncertainty coming from risky, innovative projects. If I can say: European business model is based on more conservative approach, American – is much more disruptive.