Start-ups play a key role in OECD countries in terms of job creation, innovation, and long-run growth, but the COVID-19 crisis is reducing their creation, challenging their survival, and limiting their growth.
This note considers the implications and challenges for international investment and offers initial responses from the OECD investment policy community as economies around the world address the crisis and prepare for the recovery.
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As only a tiny proportion of new firms eventually grow, policy makers face two alternatives: target specific firms predicted to be highly innovative in the future, or foster experimentation among firms and streamline both entry and exit. The Italian "Start-Up Act" combines these two approaches with an eclectic mix of policy tools.
Italian, PDF, 1,273kb
Considerato che solo una minima parte delle nuove imprese riesce a svilupparsi, i decisori pubblici si trovano di fronte a un'alternativa: concentrarsi sulle imprese che presentano un alto potenziale di innovazione, o favorire la sperimentazione e semplificare sia l'ingresso che l'uscita delle imprese dal mercato. Lo "Startup Act" combina i due approcci con un mix eclettico di strumenti di policy.
English, PDF, 229kb
This note gives the quick read on research describing scenarios for global value chains over the next 10 to 15 years. It indicates that the future of GVCs may look quite different from the past, with the growing digitalisation of production most likely the biggest game changer.
English, PDF, 351kb
Korea has undertaken reforms to stimulate entrepreneurship and improve SME efficiency, but further efforts are needed to foster a more entrepreneurial culture and develop market-based financing for innovative and growth-oriented start-ups and SMEs.
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SMEs are a key part of Turkey’s economy. The value-added created by SMEs increased by around 6% in the post-crisis period and employment in SMEs grew by around 9%. Turkey has enacted reforms to its company registration and insolvency procedures, which were costly and complex compared to other OECD countries. The effectiveness of these measures should be evaluated and further steps taken if necessary to stimulate business development.
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Credit to small and medium-sized enterprises (SMEs) declined more in Hungary than in most other countries since 2008, and credit conditions remain comparatively tight, especially for small businesses, firms with a higher risk-return profile and firms seeking long-term loans.
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Hungarian youth are less active in entrepreneurship than young people in most other OECD countries. In 2014, 2.5% of all youth aged 15-24 were self-employed, which is below the European Union average of 4.2%. This gap can be explained by a negative attitude towards entrepreneurship and few perceived opportunities.
English, PDF, 345kb
Boosting the productivity and competitiveness of the economy would help Costa Rica to progress further and take full advantage of its integration into GVCs. Improving the competitiveness of services sectors is particularly pertinent.