Bella Burtin
Impulse4Women
Entrepreneurship is a powerful tool for economic growth and innovation, but its impact is most profound when policies actively support underrepresented groups such as women, youth, and individuals from rural or impoverished areas. In Southwestern Europe, several targeted initiatives have successfully created opportunities for these communities, fostering resilience and stimulating investment. These programs have demonstrated that when financial and structural barriers are addressed, entrepreneurship becomes a viable path to economic and social mobility.
Malta has made significant strides in promoting female employment and small business growth through various initiatives under Malta Enterprise, the country’s economic development agency. The Business Start program provides seed funding to startups, with a particular emphasis on innovative enterprises and those led by young and female entrepreneurs (“Business Start” 2024). Another impactful initiative, MicroInvest, offers tax credits to small businesses and self-employed individuals, with an additional incentive for women-owned enterprises, ensuring they receive higher tax benefits (“MicroInvest” 2024).
The results of these policies have been striking. Malta’s female employment rate has reached 81.7 percent, surpassing the EU average of 75.3 percent. Between 2021 and 2022, the number of self-employed women increased by 1,750, compared to just 287 self-employed men, highlighting the effectiveness of programs designed to specifically empower women in business.
Italy has taken a targeted approach to addressing youth unemployment through the SELFIEmployment Fund, an initiative focused on young people aged 18 to 29 who are not in education, employment, or training (“SELFIEmployment, Italy Case Study” 2018). By offering zero-interest loans ranging from €5,000 to €50,000, the program enables young entrepreneurs to establish their own businesses. Since its implementation, SELFIEmployment has received 2,040 applications and financed 571 projects, disbursing a total of €19.1 million.
The program has had a particularly strong impact in Southern Italy, a region with significantly higher unemployment rates, where 83.5 percent of the funded projects were launched. An evaluation of the initiative showed that companies receiving funding had a notably higher survival rate, 97 percent, compared to non-funded enterprises, which had an 83 percent survival rate. These findings suggest that providing accessible financial support to young entrepreneurs in economically disadvantaged areas can lead to long-term business sustainability and employment opportunities.
France has implemented several programs designed to foster entrepreneurship among women, underrepresented groups, and foreign entrepreneurs. The Women’s Entrepreneurship Plan, a collaboration between multiple government ministries, has focused on improving access to financial resources, mentorship, and training for female entrepreneurs, particularly those in rural areas (Plan Entrepreneuriat Des Femmes, France | The Better Entrepreneurship Policy Tool). Between 2018 and 2022, the proportion of new businesses created by women in France rose to 39 percent, demonstrating the success of these support mechanisms. By 2023, 28 percent of French women were actively involved in entrepreneurial activities, whether through launching, running, or planning businesses.
In addition to supporting women, France has also made strides in welcoming foreign entrepreneurs through La French Tech. This initiative provides a fast-track residence permit for young and female founders seeking to establish innovative startups in France, contributing to a more diverse and competitive entrepreneurial landscape. Another impactful program, French Tech Tremplin, was introduced in 2019 to promote equal opportunities by supporting entrepreneurs from underrepresented backgrounds in the tech industry (“French Tech Tremplin”). This program includes a preparatory phase to help individuals launch their businesses and an incubation phase that provides up to €22,900 in financial support, alongside mentorship and resources to develop their startups. The effectiveness of these policies is evident in the growing success of France’s tech ecosystem. By 2024, companies in the French Tech Next40/120 cohort reported combined net revenues of €10 billion, with 31 companies each exceeding €100 million in revenue. This growth demonstrates the importance of creating inclusive opportunities in high-growth industries.
The success of these initiatives highlights the crucial role that inclusion-focused policies play in fostering entrepreneurship. By reducing financial barriers, offering mentorship, and actively encouraging participation from underrepresented groups, governments can unlock significant economic potential. As more countries in Southwestern Europe consider how to strengthen their entrepreneurial ecosystems, the expansion and refinement of such policies will be essential. Through sustained investment in inclusive entrepreneurship, the region can not only drive economic growth but also ensure that innovation remains an accessible and transformative force for all.
