Letters to the Editor: Jun. 2011

The Vienna Review welcomes letters from its readers

Response to “Austrian Efficiency? It’s a Miracle!” by Nicholas K. Smith, Vienna Review, March 2011.

I want to say thank you Nicholas K. Smith on a very interesting and well written article. And as someone that is co-founding a company ClearKarma.org (an online community dialogue between food producers and consumers.) I do agree with the speed and ease of the administrative side.

That said, Austria is still going to lose companies as other countries offer many more incentives to start a company.  While we would praise the speed and efficiency of the system, yet we are still looking at the possibility of incorporating abroad due to incentives on offer elsewhere.

Austria is a small market and offers few opportunities or incentives to innovative companies; Ireland and the Netherlands, for example, offer a low corporate tax. In France, innovative companies pay no employer charges on salaries for R&D within the first seven years of creation, and no corporate tax within the first three years.

Honestly the only reason we would set-up here is that we like the place and the people.

But that is not enough for some: Vienna recently lost two companies (Garmz.com and Qriously.com) to London, more to do with the market place, perhaps, but not only.  Austria has to promote the country more as a place of innovation and opportunity.  I would be fairly certain that the average well educated young Austrian has an eye on living abroad due to the perceived opportunity.

With all of that said, from an ExPat’s point of view, Vienna will still be important. At least to us.


Nick Stein
Co-founder, ClearKarma.org

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