The success story of Fine Food Group looks different from the glitzy high-tech start-ups featured in business magazines or in investment blogs. The OECD report Understanding Firm Growth: Helping SMEs Scale Up shows that its storyis nonetheless much more representative of a typical scaler than that of a high-tech start-up.
Es are the beating heart of the global economy. In Europe alone, there are 24 million small businesses, employing a total of 95 million people and generating €4 trillion a year. And yet, SMEs are still behind their larger counterparts in the integration of the digital tools that they need to increase productivity, scale-up and innovate.
Not everyone has an equal opportunity to transform their ideas into a business. There could be an additional 9 million people starting and managing new
There are long-standing gender gaps in entrepreneurship. Women in OECD countries are about two-thirds as likely as men to be working on a start-up or young business.
Governments around the world should back the social economy as they look to lay the foundations for a strong, sustainable recovery. Global challenges such as the pandemic, climate change, and digitalisation are reshaping our world and demand novel solutions. The social economy is ready to step up and deliver.
Earlier this year, we marvelled as billionaire entrepreneurs Richard Branson and Jeff Bezos reached for the stars through trial launches of rockets developed by Virgin Galactic and Blue Origin. In many ways, their race represents popular perceptions of entrepreneurship – the expression of a drive that is ambitious, competitive, innovative, and…. male.
It needn’t be that way.