Many young entrepreneurs in Germany are pessimistic about the future. According to a survey on the “Day of Young Businesses” on Monday in Berlin, two out of three young executives are pessimistic when they think of Germany as a business location in 20 years.

The biggest concerns included bureaucracy, rising wage costs and the shortage of skilled workers. Three quarters of those surveyed complained about the sluggish digitization of the German administration.

“The young generation is of central importance for social change and progress,” said the national chairman of the Wirtschaftsjunioren Germany, Tobias Hocke. “In the summer of 2023, however, large parts of her are pessimistic about the next two decades.”

On the other hand, the potential of artificial intelligence (AI) gives hope. More than four out of five respondents agreed at least in part with the statement that the opportunities offered by AI for the economy are greater than the disadvantages.

In the period 03.05. – 17.05.2023, the Wirtschaftsjunioren Deutschland surveyed a total of 1008 members nationwide using an online questionnaire.