Insights on Entrepreneurship, SMEs, Tourism, Regions and Cities
Industrial strategy is back – and with it, industrial subsidies. During the World Economic Forum in Davos last week, sharp tensions continued to surface over the re-emergence of subsidies for domestic manufacturing and particularly to support the growth of new green industries.
Cultural workers are more likely to be self-employed than those in other sectors. In 2020, on average 29% of cultural workers were self-employed in OECD countries compared to 14% across sectors.
Main streets are both economic and social hubs for local communities by providing access to employment, services and goods, and by serving as community gathering points. For example, in Victoria, Australia, Main Streets account for 12% of the state’s jobs and generate over AUD 50 billion in economic value annually.
The average person from an OECD country spends 37 hours a week at work. Unfortunately, it is not always the most fulfilling experience. Indeed, one study found that paid work is ranked lower for wellbeing than any other of the 39 activities sampled except for being sick in bed. It is no longer just about job quantity, but also job quality.
The global pandemic transformed the way we work and shop. While many businesses were able to weather the storm of the global pandemic shutdowns, running a small business along our Main Streets is now more complex.
Over several years, the Innovation Growth Lab (IGL) has worked with the UK government and the European Commission on a new approach to this problem. It has set up experimentation funds to test new interventions to boost innovation and productivity among SMEs.
The rise of remote work could still entice people to move out of big cities. But as a general trend, the price of housing in and around cities has continued to rise since 2020. What should policy makers do?
Cities will be central to getting the SDGs back on track. Their proximity to local businesses, residents, and civil society also means they are uniquely placed to mobilise collective action towards the SDGs. But 70% of OECD cities have still not achieved more than two SDGs.