Mag. Georg Kapsch, President of the Federation of Austrian Industries

Awards tell success stories

Major challenges and numerous uncertainties have shaped the past years for domestic companies. From today’s perspective this is not going to change in the foreseeable future. The economic environment remains difficult. On the one hand, a circumstance which is owed to global uncertainties and crises, which Austria as a small country – and even within the framework of the European Union – can only partly influence. On the other hand, we still face many home-grown problems that unfold their effect in the form of deficient economic conditions and, among others, the resulting unemployment. Overregulation, an avalanche of bureaucracy, outdated and rigid working time regulation, a tax burden that is among the highest in Europe – millstones around the neck of Austrian enterprises, grit in the gears of the domestic economy. This requires, first of all, politicians to finally act.

Nevertheless, Austria can still score for competitiveness due to high-performance companies. Innovative drive, professional expertise of employees, reliability and outstanding quality are highly appreciated internationally, which is reflected, not least by the high export orientation of the domestic industry. Numerous local companies have earned their position hard with courage, entrepreneurial thinking and performance and wrote success stories even under the described adverse conditions. Awards such as the Austrian National Coat of Arms, which is granted to companies of merit for outstanding achievements, tell us these success stories. They chronicle and acknowledge past achievements, but also serve as motivation for the future. This is all the more important, because it is the individual companies, from a small family business to a large industrial enterprise, that ultimately form the business location of Austria as a whole – and thus also its long-term success.