"Plaforma Bridgewhat has a pool of consultants made up of ex-C-Level decision-makers" "The high tax burden and the costs associated with highly bureaucratized administrative procedures restrict the growth of companies" - says Vítor Santos, former Secretary of State for Industry and Energy and former President of ERSE. In the opinion of the Bridgewhat advisor, SMEs also face restrictions on access to finance, a shortage of talent and qualifications and difficulties in internationalization. "Overcoming these barriers involves promoting encouraging public policies, support from specialized consultants, investment in continuous training and participation in business cooperation networks," he adds. Vida Económica - What roles have you taken on in your professional life? Which ones have marked you the most? Vítor Santos - Full Professor of Economics at ISEG, President of ERSE and Secretary of State for Industry and Energy were the positions that most marked me. Sharing knowledge and contributing to the education of future generations is a great privilege and a source of great personal satisfaction. As Paulo Freire said, "To teach is not to transfer knowledge, but to create the possibilities for its own production". Economic regulation is justified by the need to correct market failures resulting from the existence of externalities, the anti-competitive strategies of companies that benefit from market power or those that operate as natural monopolies and, finally, the distortions that can result from the existence of imperfect or asymmetric information. The regulator's role is to monitor the dynamics of the sector, particularly the development of energy markets, and to anticipate future challenges, which often results in the emergence of new economic regulation instruments. Public policies aim to stimulate economic growth, ensure macroeconomic stabilization and minimize asymmetries in income distribution. Being a public policy promoter is therefore a challenging activity because of its impact on the well-being of our fellow citizens. VE - Where have you worked? Give me examples of lessons learned in some of these countries. VS - Teachers and regulators increasingly work on very broad platforms of international cooperation that are a wealth of knowledge and learning. Participating as a visiting professor in the best American universities, such as Stanford, or following the debate on the liberalization process and the energy transition in the institutions of the European Union gives us a worldview and an overview of the major trends that mark the present and the future. Interacting with regulators from around the Mediterranean or from sub-Saharan African countries gives us a multicultural perspective and stimulates a willingness to share best regulatory practices or new business models that induce a sustainable and inclusive growth model. Since the turn of the millennium, I have maintained a very productive cooperation relationship with various Brazilian institutions in the energy sector, and in particular with Gesel, a center of excellence based at the Federal University of Rio de Janeiro, which specializes in research into the energy sector. This cooperation with a country of continental dimensions with a common electricity sector regulator (Aneel) of excellent quality, companies that are a reference on a global scale and a plethora of highly reputable energy experts has allowed for cross-fertilization that has benefited both sides of the Atlantic. Regulator at ERSE for 11 years VE - What are the main sectors that have marked your career? Tell us about some of them. VS - My career has been marked by activity in the following sectors: University Teaching; Regulation and Public Policy and Strategic Consulting in Industry, Energy and the Environment. I have worked as a professor in two educational institutions: Instituto Superior Técnico (for six years) and ISEG, where I retired with the rank of Full Professor. The fact that I worked in two schools that integrate such different areas (different branches of engineering, economics and management) made me aware of the virtues of interdisciplinary approaches, which ended up being very relevant to Strategic Consulting and energy regulation. I worked as a regulator at ERSE for 11 years. I currently work as a consultant in the areas of energy, industry and the environment. VE - In which areas do you see yourself helping companies at the moment? Give examples of some typical challenges in these areas. VS - The issues related to the energy transition are perhaps the ones in which I can make the most relevant contributions to companies. I would highlight the following topics: promoting energy efficiency, decarbonization strategies, implementing sustainable practices in line with ESG (Environmental, Social, Governance) criteria, adapting to national and EU environmental regulations, supporting the development of projects related to incentive systems for the different dimensions of the energy transition. Support for SMEs' internationalization strategies is another area where it could make a contribution: identifying target markets for exports and developing strategies for entering and consolidating in international markets. Barriers to SME growth VE - What do you think are the main barriers to growth that many companies face? Give some suggestions for overcoming them. VS - SMEs face a wide variety of barriers to growth. By way of illustration, I would mention some of the ones that seem most relevant to me. Restrictions on access to finance, with emphasis on the following constraints: difficulties in obtaining bank credit due to collateral requirements and limited financial history; lack of knowledge about financing alternatives, such as European funds, venture capital or crowdfunding; high interest rates, making it difficult to invest in expansion. Shortage of talent and appropriate qualifications: competitive disadvantage in attracting qualified professionals, particularly in the areas of technology and innovation, as well as insufficient investment in ongoing training. The high tax burden and the costs associated with highly bureaucratized administrative procedures hamper business growth. A disadvantage in the domestic market compared to larger companies with more competitive strategies and, above all, difficulty in making the leap to internationalization. These barriers can be overcome by promoting encouraging public policies, providing specialized consultancy support, investing in continuous training and participating in business cooperation networks. VE - How can the Bridgewhat project help companies grow? What features make it a distinctive project? VS - In our previous answer, we stressed that specialized consultancy could often be a differentiating factor between stagnation and growth. The Bridgewhat platform has a pool of consultants made up of ex-C-Level decision-makers who, through their personal experience, can help make a difference to companies' performance.