George Michael: “Growth and prosperity for the entire population will come from business”

Addressing the 17th INBusiness Awards, IMH CEO George Michael underlined the important role played by the business world in the growth of Cyprus’ economy.

He reminded the candidates that they should all consider themselves winners, especially since entrepreneurship at this period of time is not easy.

Among other things, Michael also talked about the dangers of populism and reminded the audience, “Growth and prosperity for the entire population of Cyprus will come from business.”

His full speech, translated from the original Greek, can be read below:

Your Excellency President of the Republic, Madam House President, dear Ministers, state officials, and representatives of the business world, I welcome you to the greatest celebration of the Cyprus business world: the 17th INBusiness Awards.

We are here tonight to honour Cypriot entrepreneurship and to reward businesses and individuals who have distinguished themselves in their field.

I would like to congratulate all the businesses and managers who were selected to be candidates for INBusiness. Awards. For us, you are ALL winners. Entrepreneurship in our time is not easy, so you should all feel proud of your work and achievements. Feel proud because it is businesses like yours that support the growth of our economy. Your vision, your hard work, your investments, the risks you take, the innovations you implement, bring success, create jobs and by extension create wealth and prosperity for our country.

Mr President, dear guests,

I said before that doing business these days is not easy. Our business people do not only have to face external threats. They also have to face the biggest, internal enemy which is none other than Populism. The easy target of Populism is, of course, businesses. The words capitalism, business, profit and investment have been targeted and abused.

We are in a time when the Cypriot economy is experiencing sustainable growth, with many sectors having years of good profitability, with full employment conditions, and with the interest of foreign investors continuing. Domestic populists, of all types, however, are choosing this period to whisper catchy phrases full of clichés and wooden expressions such as "big interests, big profits or super profits" into the ears of the people, and, while using the "false front" of combating corruption, victimising businesses.

We will be having parliamentary elections in about a year and I am sounding the alarm: I call on the business world to stand against populism, against approaches coming from other eras that aim to promote statism, overregulation, and interventions in the free market for products, services, and labour.

Our message is simple: growth and prosperity for the ENTIRE population of Cyprus will come from business: that is, honest, ethical, correct, sustainable business. And rest assured that with growth, not only the numbers and entrepreneurs will prosper, as some constantly repeat, but the whole of society also.

Mr President, ladies and gentlemen

I must warmly thank the European University Cyprus, which is presenting the institution again this year, as well as all our sponsors and supporters: EPIC, Ecommbx, Alpha Bank, LaikoCosmos and Glenfiddich, Sklavenitis, LandasColour, GAP Vasilopoulos Group, Demetriades Handling, Montblanc Cyprus, Pilakoutas Group and BMW, and Alpha television.

I would also like to express my gratitude to the multi-member Evaluation Committee, which helped us in selecting the candidates, as well as to the tens of thousands of readers who have taken part in the vote.

I hope everyone enjoys the evening and once again extend my warmest congratulations to the nominees and award winners.