In Germany and globally, it's crucial that we focus on reducing red tape and streamlining processes to ensure our vibrant startup scene can reach its full potential.
And to facilitate this, we need an environment that encourages this. And so it's no surprise that companies like SoundCloud, originally founded in Berlin, expanded their operations into the US, where they perceived more business-friendly conditions.īy their very nature, startups need to be nimble, agile, and fast-paced to capitalize on new opportunities, pivot when necessary, and stay ahead of the competition. Navigating through bureaucracy can sometimes feel like driving with the handbrake on. Slow administrative procedures, Complex tax systems, Employment regulations, Difficulty securing visas for foreign employees, Data protection regulations and Difficulty obtaining funding are significant obstacles that need to be overcome. In 2022 Germany ranked 18th out of 21 leading economies, dropping four places from 2020. Just as speed is the lifeblood of racing, it's equally crucial in entrepreneurship.Īccording to a study by the Centre for European Economic Research, Germany's business investment attractiveness is slipping compared to other developed nations. As an entrepreneur and investor, I agree wholeheartedly with his sentiment. “I also invested a lot to get to know myself,” said the German, admitting his biggest challenge in his 37 years so far was “finding meaning in life”.One in three entrepreneurs in Germany view bureaucratic rules and obligations as a strain.Īt the recent German Startup Awards, Chancellor Scholz compared my racing career to the urgency of speed needed in startups and government. “I had to accept that no matter what I did, I was starting again from the bottom.”Īs well as being a TV pundit for Formula 1, Rosberg is now active as an investor for new companies – particularly those focused on sustainable mobility. I had never even asked myself what other passions I had. “It was a shock to my system to go to zero in one fell swoop. “In a way, I’d given up my identity,” he said. Rosberg spoke about how he coped in the aftermath of his shock decision to retire from F1 at the age of 31 just five days after beating Lewis Hamilton to the 2016 championship. The German, now 37, was missing in his role as an F1 pundit last year after declining to get vaccinated for covid.īut he is back in the paddock this year and has now been featured on the cover of the latest German edition of Men’s Health magazine. Nico Rosberg has admitted it was “a shock to my system” when he suddenly quit Formula 1 in the days after winning his first and only title in 2016.
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