A Policy Framework for Entrepreneurship SMEs - Korea

A Policy Framework for Entrepreneurship SMEs - Korea -...

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Existing SMEs FDI Trade iberaliz. Privatization New entrepreneurs & start-ups Focus of MSME Policy in Private Sector Development Policy Gender? -General s-up rate v higher quality s-ups? -Necessity v opportunity -entrepreneurs? Tech v non-tech? -Multinationals -Foreign firms -Larger firms -Industrial SMEs v. all SMEs? -Formal v. informal SMEs? Role for MSMEs?
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Policy questions and choices… How does public policy impact on SMES, level of entrepreneurship? Is separate policy needed? What kind of policy is needed in different contexts How does level or stage of economic development matter? What should focus of policy be? Role of entrepreneurship policy? What works and what doesn’t - measuring the impact of policies and measures?
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Is research misleading policy. .? Distinction between SME and entrepreneur….? Definition of entrepreneurship keeps changing… Can you have too few or too many entrepreneurs /SMEs? U-shaped curve – optimal level of business ownership per capita GDP? (Dutch; GEM) Managing this requires complete understanding of rates “Necessity” versus “opportunity” entrepreneurship? Is the concept overstated? Is one kind of entrepreneurship really more important than another? (e.g. tech entrepreneurs) What’s the real story on “growth firms” and growth?
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Entrepreneurship - an emerging policy imperative?? New firms needed to replace exiting firms, replace jobs lost due to exiting and downsizing firms, produce innovation 75-80% of businesses in next 10 years do not exist today Most will be started by people who don’t even know they are going to be the entrepreneurs of tomorrow Most will start their business driven by some form of “inspiration” or “desperation” Largely unprepared – little know-how and experience in venturing; most will NOT have business degrees Makes sense to focus on entrepreneur as a policy issue; as well as on incumbent SMEs
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Ensuring an adequate supply of future entrepreneurs How many firms will be needed in next 5-10 years? How many new entrepreneurs will be needed to start them?
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A Policy Framework for Entrepreneurship SMEs - Korea -...

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