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> business operation across different countries, a real bottleneck for EU SMEs

Is it actually a "real bottleneck" for EU SMEs? Granted, I've only participated in help growing 3 companies from the scale of 3-4 developers > ~100-150 and from national sales to international, but "going worldwide" or "EU wide" was never the bottleneck we had. The most tricky part was figuring out exactly how to do VAT for every single country, but after a session with a accountant + setting up the guidelines + creating a .csv, that's basically it. Besides that, it was basically smooth sailing.

Today I'm sure there even are hosted services that does all of that stuff automatically for you, probably with Stripe integration as well.

What exactly is that bottleneck you're referring to?

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There's a reason I rarely see local subsidiaries of cool small companies from other EU countries - it's too complicated to open them, have a couple of local employees on a payroll, handle notarization, translations of documents, not to mention labor laws etc.

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The bottleneck is having a standardized SAFE for Europe. Global investors must be able to invest without having to understand Italian and Polish corporate law

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That's a different thing all together, but a good point nonetheless. Always been dealing with local investors when building startups, because of that.

The claim was that "business operation across different countries" is a "a real bottleneck for EU SMEs" currently, I don't think that has anything to do with investors?