growing enterprises as they are seen as a key driver of economic growth and employment. Europe has performed relatively badly in generating high-growth innovative companies that quickly become global leaders.
Since there is empirical evidence for the importance of high-growth SMES for employment creation, it appears to be worthwhile to support high growth of enterprises in order to leverage the positive impact of these enterprises.
employment and social wellbeing. There is also an increased interest of policy makers in fostering innovation, and it is assumed often that high growth of companies is based on innovation.
as measured by employment (or by turnover), are enterprises with average annualised growth in employees (or in turnover) greater than 20%a year, over a three-year period,
) Market rules Standards Framework conditions Infrastructure Facilities for transport, communication, energy/water Institutions for security, health education, legal system (e g. employment and bankruptcy law) Economic stability Right
Share of high-growth enterprises (employment definition) in%of enterprises with ten or more employees 0123456789 10 Manufacturing*(2006) Services**(2006)* Mining and quarrying;
It found that 12%of the companies had grown by over 20%on average per year in the previous three years, in terms of full-time employment or full-time equivalents.
market shares or employment of established enterprises. Second, when there are strong first mover advantages for market entrants,
In fact, the largest share of answers of yes for company start-up is an attractive professional option was found in The netherlands (86%).37 High-growth enterprises are very important for employment creation...
and Henrekson/Johansson (2008) with an overview of studies for different countries. 39 WEF (2011), p. 7. 40 See Finnish Ministry of Employment (2011), p. 6. Policies
For example, the top 5%of companies measured by employment growth created two-thirds of new jobs in any given year.
Acs and Mueller found that only start-ups with greater than twenty employees have persistent employment effects over time
employment creation in several countries. 43 Other studies include Storey (1994) with results for the United kingdom (4%of new start-up survivors in the UK were responsible for 50%of jobs created by all new
The most prominent may be the VIGO programme which was introduced in 2009 by the Ministry of Employment
connecting 37 national and international financiers with 25 Finnish growth companies. 75 At the beginning of 2008 the innovation department of the Ministry of Employment and the Economy established a division for growth ventures.
turnover and employment growth at the firm level. 120 The authors suggest that policies supporting innovation
and to increase employment, the government recently introduced several new programmes and activities: the venture businessmen's special lecture programmes on entrepreneurship at universities;
which were on the GET-Up programme, projected twice as much revenue and employment growth over the next three years as their counterparts
As expected very small firms had increased lower sales and employment with the best results for firms in the range of 15 to 25 employees.
Government programmes often have multiple agendas, e g. local employment and regional development. Therefore governments should take note of this key finding. 161 In a 2010 study for CVCA Gilles Duruflé undertook a review of government assistance for firms in eight countries that showed that there was a positive role played by government supported VC funds
Diversification and clustering of SMES for future growth Summary Although the fall out from the 2008 Lehman brothers collapse continues to skew the Japanese government's SME (small and medium-sized enterprise) policies towards finance and employment safety net issues,
Third, the government will create platforms for growth in the areas of science, technology and information technology, employment and human resources, and financing.
and increase employment in the private sector is clearly on the minds of politicians and business organisations (e g.,
Fostering employment of high-tech employees in SMES: the SME Agency introduced for the first time in 2010 a subsidy programme for SMES employing next-generation high-tech human resources.
Breakdowns In all surveys of the IW Future Panel the enterprises are asked about their growth by employment and turnover;
or services Successful expansion of supply to international markets Important reason for growth Less important reason for growth No reason for growth N=59 companies stating employment or turnover growth
451companies stating employment or turnover growth of less than 20%or no growth or even decline in the previous three years.
stating employment or turnover growth of more than 20%in each of the previous three years Source:
However, the importance of a small share of high-growth firms for employment creation also needs to be considered.
they still account for a significant share of employment. Abandoning general SME policies in favour of high-potential SMES could harm established and stable SMES. 185 Theoretical considerations of market failure do
Since there are empirical findings supporting the importance of high-growth SMES for employment in developed national economies,
Policies for high-growth innovative SMES v1. 6 94 erable employment and welfare. Furthermore, governments should also not aspire to eliminate new venture failures. 192 3. Policies for general SMES
Employment effects of business dynamics: Mice, gazelles and elephants. Discussion Papers on Entrepreneurship, Growth and Public Policy;
Ministry of Education and the Ministry of Employment and the Economy: Evaluation of the Finnish National Innovation System Full Report.
Ministry of Employment and the Economy (2011: Growth Enterprise Review 2011. Finnish: Kasvuyrityskatsaus 2011. Available at http://www. tem. fi/files/29659/TEM KASVUYRITYSKATSAUS 2011. pdf. Policies for high-growth innovative SMES v1. 6 100 Moore, Geoffrey (1998:
Ministry of Employment and the Economy of Finland, http://www. tem. fi/?/l=en&s=2383, last accessed May 2011.
Interviews Jonathan Potter, OECD, Senior Economist, Local Economic and Employment Development. 1 june 2010. Burton Lee, Innovarium Ventures, 17 august 2010.
a quantile regression approach 2009 Shane Why encouraging more people to become entrepreneurs is bad public policy 2008 Acs/Mueller Employment effects of business dynamics:
and immigrants provided by the Ministry of Employment and the Economy. http://www. yrityssuom i. fi***Vigo,
by Finnish Ministry of Employment and Economy The programme bridges the gap between early stage technology firms
The Finnish Ministry of Employment and Economy launched the Vigo Programme in 2009. PROFICT Partners Oy manages the execution of the program.
We find even higher concentration levels by looking at FTE (full time equivalent) 4 employment:
and 61.4%of those found employment in Budapest. 1 Share and number of researchers (FTE) R&d expenditure All other county 34.2%(7 874 ps) All other county
other income from employment; social welfare costs; flat rate benefit payments (allowances, contributions; statutory benefit and contributions paid by the employer into various funds;
In terms of FTE employment the same three counties are in the lead, but Pest already has overtaken Baranya County.
therefore analyse in detail some of the available employment indicators in a breakdown by county, such as the rate of unemployment and the number of unemployed graduates.
%which is even lower than that of Central Hungary (9. 4%).It should be noted that there are major disparities in this region in respect to this particular employment indicator.
Employment, unemployment and economic activity statistics (2011. Source: The National Innovation Office RDI Observatory's own calculations based on HCSO data and map imaging of the former. 25 3. Innovation potential of unemployment is significantly lower for counties of the Transdanubian region
potential 3. 8 Accredited Innovation Clusters The title of Accredited Innovation Cluster is awarded to co-operation networks distinguished by outstanding employment
which account for 3. 3%of EU GDP and 3%of employment. These industries are faced with a digital transition that is shaking up traditional models,
Employment & Economic Development Strategy 60 Section 5: Infrastructure 80 Section 6: Communications/Energy/Regional Climate Change Strategy 98 Section 7:
Landscape Convention EPA Environmental protection agency ESB Electricity supply board EU European union FÁS National Training & Employment Authority FDI Foreign Direct Investment FORFÁS National Advisory
29 2. 2 Population of Larger Urban Centres in 2006 30 2. 3 Changing Employment Profile of the Southeast Region 2002 2006 31 2
economic and employment trends; industrial and commercial development; transportation; water supply and waste water facilities; energy and communications;
provided a basis for the employment and economic development strategy element of the RPG. During the RPG review process the Regional Authority engaged in wide ranging consultation with interested bodies and individuals and in public consultation.
Section 4 Section 4 sets out an Economic and Employment Strategy for the Southeast Region.
including employment generating developments. The Section highlights the role of local authorities in promoting social inclusion and in tackling poverty.
1. Employment and Economic Development. 2. Population Growth and Settlement Strategy. 3. Transportation. 4. Environmental Issues, Water Services and Waste Management. 5. Energy
Waterford, as the Gateway, Kilkenny and Wexford and the County towns of Carlow, Clonmel and Dungarvan will drive regional growth by providing a large and skilled population base, substantial capacity for additional residential and employment
and will create opportunities to support employment creation and regional development. N24 PRIORITISATION STUDY The current N24 is of variable standard
While there was strong growth in employment over the 10 years up to 2007, the downturn since then in the economy has resulted in increasing levels of unemployment and the number of unemployed stands at 36,100 or 15.1%(Q3nhs, July-Sept 2009).
This includes developing strategies to create employment, to foster enterprise and innovation and support economic development.
tourism and leisure. 2. 2. 2 Employment and Economic Development The regional economy of the Southeast is based primarily on agriculture, manufacturing and services, tourism, fishing and aquaculture.
The agriculture and food sector accounts for a significant proportion of output and employment, with the region having a higher than average reliance on this sector.
which there has been a shift towards services employment in recent years with a consequent reduction in the proportion of the labour force employed in the agricultural sector.
Table 2. 3 Changing Employment Profile of the Southeast Region 2002-2006 The Southeast Region has the highest rate of unemployment in the country at 15.1%(CSO, QNHS Q3,
Average Disposable income by County Sector 2002 2006 Agricultural Employment 11.6%10%Industrial Employment 31.5%33%Services Employment 56.9%57%Regional Planning
Population & Regional Profile 323 Key Issues for Employment and Economic Development The key economic development issues relate to:
the need to respond to the major employment losses associated with the downturn in construction and job losses in major export-led enterprises the need to provide appropriate enterprise land with adequate water
and employment in the Southeast Region, with the region having a higher than average reliance on this sector.
Traditional rural based sectors of employment in agriculture, forestry and fishing will continue to have key roles as a base for strong and diversified rural economies.
together with significant and developing sectors such as tourism, enterprise, local services and other sources of off-farm employment, will be the mainstays of a strong rural economy.
Additional facilities will be considered where new projects can service the sustainable development of hubs and gateways, strategic developing areas and works to support employment creation.
which would welcome increased employment options within the region. 2. Development of third-level facilities
Rural diversification is needed to create employment and generate economic prosperity. D4 Developing a self-sustaining forest industry based on a variety of species and a wide range of post-felling services.
Employment Growth The Settlement Strategy will be underpinned by economic development and employment growth. Employment growth should be located at main population centres
so that employment growth and population growth are linked in support of sustainable patterns of development. Implementation Following the adoption of these Guidelines
it will be the function of each constituent city and county council to review its city/county development plan in line with these population targets
Employment growth that is located in, or accessible to/from, the main centres of population. Improved public transport services and infrastructure.
Employment & Economic Development Strategy Regional Planning Guidelines for the Southeast Region 2010-2022 Section 4:
Employment & Economic Development Strategy 61 The recent period from 2008 to 2010 has been dominated by the global economic downturn.
IDA Ireland is contributing to the movement of jobs away from traditional low paid employment to higher value added employment in the region.
Employment & Economic Development Strategy 623 These conditions can be described as follows: There is a need for a critical mass of population, a range of skills, an innovation capacity,
which are vital to foster a wide range of enterprise activity and employment creation. These include:
development of Strategic Employment Locations within the region to act as ready togo economic gateway sites to the new industry.
Targeted investment in the development of Strategic Employment Locations at the Gateway, Hubs and County towns with first class infrastructure capable of facilitating new indigenous start-ups in advanced sectors
Employment & Economic Development Strategy 63 Development of Community and Social Infrastructure is critical to supporting economic development
The identification of strategic employment sites; Urban regeneration and development of the city quays, including new links from the city centre to the north Quays;
Employment & Economic Development Strategy 645 The priority in relation to strategic educational infrastructure must be the provision of a University for the Southeast.
and employment creation. 4. 4 Other Urban areas The potential of larger towns and District Towns to support sustainable economic activity will need to be supported by the development of Industrial Estates,
Employment & Economic Development Strategy 65 public transport networks and through innovation, enterprise promotion and business links.
The strengths of the smaller towns and villages lie in their capacity to accommodate employment, residential and other functions on the basis of their comparative advantage in terms of lower costs and a quality of life
and inclusion through the development of skills to enable people to take advantage of higher value added employment;
Employment & Economic Development Strategy 667 Agri/ecotourism has potential to be a viable form of farm diversification away from the traditional tourist areas.
Employment & Economic Development Strategy 67 Alternate uses for declining fishing harbours should be promoted to sustain local communities.
Employment & Economic Development Strategy 689 It is of critical importance for the region that it has the correct skills
and distance learning opportunities for those in employment. A strong third and fourth-level education sector in the region will be a strong driver of innovation and entrepreneurship.
Employment & Economic Development Strategy 69 4. 6. 2 Research & development Ireland's emphasis on the knowledge economy is a key target of future economic development.
and one capable of significantly increasing its share of employment. This will require high-tech centres of excellence,
The existing employment base and infrastructure of such industries should be expanded through the promotion of similar and related activities and the installation of supporting educational links with third and fourth-level institutions and research and development facilities.
so it is important that training opportunities are afforded to such persons to achieve the skills that will assist them to gain employment.
Similarly, unemployed workers in the region will need to gain the skills that can help them regain employment.
Employment & Economic Development Strategy 701 centres, and Vocational education Colleges (VECS) can provide the training facilities throughout the region that are needed.
The retail sector contributes significantly to regional employment figures and to the economic development of the region.
Employment & Economic Development Strategy 71 mixes of restaurants, cafés, bars and attractive shops; a high quality physical setting in terms of sensitive conservation of structures of architectural heritage merit, contemporary architecture, street paving, formal and high quality public spaces and parks;
The retail sector contributes significantly to the growth in employment and to the economic growth of the region.
Employment & Economic Development Strategy 723 region's uplands, beaches and harbours. The potential for agri-tourism, eco-tourism, farmhouse accommodation, open-farms, pet farms and horse trekking centres should also be considered.
Employment & Economic Development Strategy 73 Table 4. 1 Summary of Appropriate Locations for Increased Enterprise Activity 4. 10 Regional Competitiveness Agenda The Regional
the national advisory body for enterprise and science. 4. 10.1 Enterprise Dynamic The Southeast Region exhibited strong employment growth over the period 1998-2008 and, not unlike other regions
and also the public sector. Employment growth in construction activities has been particularly strong in the Southeast
New investments in recent years, particularly in the Life sciences sector, have boosted manufacturing employment and have helped to offset decline in longer established manufacturing sectors.
Employment & Economic Development Strategy 74 Contributing 9%to overall employment, the agricultural sector remains a significant part of the Southeast economy.
Employment & Economic Development Strategy 75 4. 10.5 Leadership and Local Capacity Local leadership plays an important role in driving regional development,
Employment & Economic Development Strategy 767 focused teams under a regional umbrella-possibly the Spirit of Enterprise Forum-to further explore specific opportunities in identified sectors.
Employment & Economic Development Strategy Innovation 14. Encourage an innovative mindset in the region through the promotion of examples of successful innovation from across the public and private sector.
Employment & Economic Development Strategy 78 SUMMARY/Development Plan Implications Section 4 sets out an Economic and Employment Strategy for the Southeast Region which is consistent with the priorities of the Government
and employment developments that are appropriate to each sector within each county in the light of that analysis. The large scale land
Employment & Economic Development Strategy 79 Development Plan Implications (Retail) The Retail Strategy for the region supports the development of a Joint Retail Strategy for Waterford City and its environs.
and that efficient links are available for access to employment and for greater access to a range of complementary goods and services.
Sustainable high density development in urban rail corridors/public transport nodes where appropriate (e g. not warehousing or other activities with low employment intensity.
Projects with a demonstrable impact on the sustainable development of hubs and gateways under the NSS, strategic developing areas and works to support employment creation will also be prioritised. 5. 2. 2 W
county towns, strategic developing areas and works to support employment creation. The need to focus on the quality of effluent produced is underlined by the Waste Water Discharge (Authorisation) Regulations, 2007
Future development within the bio-energy sector is regarded as an area that has significant employment and import substitution potential.
cannot access employment and do not have a say in the decisions that affect their lives.
>Sustain economic growth and employment.>>Provide levels of income support to those relying on social welfare sufficient to sustain dignity
while facilitating employment and escape from welfare dependency.>>Address the requirements of groups with specific needs at high risk of poverty.>
such as a choice of primary and secondary schooling, retailing, employment, social and sporting facilities and access to the national transport network, contribute to the attractiveness of a town.
and other employment generating developments. Social Inclusion The local authorities have been identified as having a role in social inclusion and, in particular, in the delivery of the NAPS.
The employment of Conservation Officers and Heritage Officers in the region to provide expert advice
Clonmel and Dungarvan, will drive regional growth by providing a large and skilled population base, substantial capacity for additional residential and employment related functions and an improving transport network.
high level research and development, key employment locations and in roads and transport infrastructure would support and attract new economic development in the region.
C. Developing Strategic Employment Locations within the region to act as ready togo economic gateway sites to the new industry.
Targeted investment in the development of Strategic Employment Locations at the Gateway, Hubs and County towns with first class infrastructure capable of facilitating new indigenous start-ups in advanced sectors
Strategic Employment Locations will be identified by each local authority in City and County Development Plans. D. Targeted land servicing measure
the Ministry of Taxation and the Ministry of Employment, see http://www. mind-lab. dk/en/.
and energy, employment, education and reducing poverty. The strategy also includes seven flagship initiatives that form the framework in
sustainable (efficient in the use of resources and environmentally-friendly) and inclusive (creating employment and guaranteeing social and territorial cohesion).
leading to the establishment of a competitive and sustainable model that will promote employment and social cohesion.
creating wealth and employment and providing a response to the major social challenges. 1. 1. 2. Horizon 2020 Horizon 2020,
and removing bottlenecks in key network infrastructure. 8. Promoting employment and supporting labour mobility. 9. Promoting social inclusion
2020 Strategy on employment, education and combating poverty. Finally, the European Agricultural Fund for Rural Development (EAFRD)) focuses on six priorities whose goals are to foster smart
and promote resource efficiency 8. To promote employment and support labour mobility 7. To promote sustainable transport
and creating employment. The strategy focuses particularly on measures that have a direct and quantifiable impact on priority areas:
employment and training, social cohesion, innovation and knowledge, entrepreneurism, internationalisation and the green economy. Within the ECAT 2020 framework and based on a shared vision of the country towards the year 2020, RIS3CAT promotes:
-R&i as a driver for the economic transformation of the production system towards a competitive and sustainable model that fosters employment and social cohesion.
and employment and to provide a response to the challenges facing society. In a context characterised by public spending restraints,
which Catalonia has competitive advantages, critical mass and future opportunities. 1. Critical mass in different sectors, measured in terms of number of companies, employment and gross added value,
4. Potential to generate new economic activity and employment, based on such factors as intensive use of labour and current growth of leading companies. 5. Global sector trends (estimates of world demand, supply, prices, Community policies, etc.)
and potential to generate employment. RIS3CAT focuses on the six crosscutting enabling technologies that are presented in Figure 12 and described in greater detail in the additional documentation.
the R&i system fosters the evolution of the economic base towards activities that generate greater added value, wealth and employment.
-Generation of new opportunities for economic activity and employment. -Efficient use of resources (green economy. There follows a description of the general characteristics of each of these tools (T)
To encourage the integration of young people into the employment market. To improve English skills amongst the population.
and generate quality employment. Support for businesses and job creation are, therefore, the central pillars of the Catalan Digital Agenda,
-To raise awareness about the value of business and entrepreneurship as a source for the generation of wealth and employment.
and trained ready to enter the employment market. Attracting and retaining talent within the research system
therefore, to generate employment and economic recovery. Vocational training should be used the tool to professionalise people
and retain employment. To this end, we need to advance towards a quality, flexible, integrated vocational training model (in coordination with the jobs market) that provides training throughout people's working lives.
To encourage the integration of young people into the employment market. To improve English skills amongst the population.
and energy, employment, education and reducing poverty. The strategy also includes seven flagship initiatives that form the framework in
sustainable (efficient in the use of resources and environmentally-friendly) and inclusive (creating employment and guaranteeing social and territorial cohesion).
leading to the establishment of a competitive and sustainable model that will promote employment and social cohesion.
creating wealth and employment and providing a response to the major social challenges. 1. 1. 2. Horizon 2020 Horizon 2020,
and removing bottlenecks in key network infrastructure. 8. Promoting employment and supporting labour mobility. 9. Promoting social inclusion
2020 Strategy on employment, education and combating poverty. Finally, the European Agricultural Fund for Rural Development (EAFRD)) focuses on six priorities whose goals are to foster smart
and promote resource efficiency 8. To promote employment and support labour mobility 7. To promote sustainable transport
and creating employment. The strategy focuses particularly on measures that have a direct and quantifiable impact on priority areas:
employment and training, social cohesion, innovation and knowledge, entrepreneurism, internationalisation and the green economy. Within the ECAT 2020 framework and based on a shared vision of the country towards the year 2020, RIS3CAT promotes:
-R&i as a driver for the economic transformation of the production system towards a competitive and sustainable model that fosters employment and social cohesion.
and employment and to provide a response to the challenges facing society. In a context characterised by public spending restraints,
which Catalonia has competitive advantages, critical mass and future opportunities. 1. Critical mass in different sectors, measured in terms of number of companies, employment and gross added value,
4. Potential to generate new economic activity and employment, based on such factors as intensive use of labour and current growth of leading companies. 5. Global sector trends (estimates of world demand, supply, prices, Community policies, etc.)
and potential to generate employment. RIS3CAT focuses on the six crosscutting enabling technologies that are presented in Figure 12 and described in greater detail in the additional documentation.
the R&i system fosters the evolution of the economic base towards activities that generate greater added value, wealth and employment.
-Generation of new opportunities for economic activity and employment. -Efficient use of resources (green economy. There follows a description of the general characteristics of each of these tools (T)
To encourage the integration of young people into the employment market. To improve English skills amongst the population.
and generate quality employment. Support for businesses and job creation are, therefore, the central pillars of the Catalan Digital Agenda,
-To raise awareness about the value of business and entrepreneurship as a source for the generation of wealth and employment.
and trained ready to enter the employment market. Attracting and retaining talent within the research system
therefore, to generate employment and economic recovery. Vocational training should be used the tool to professionalise people
and retain employment. To this end, we need to advance towards a quality, flexible, integrated vocational training model (in coordination with the jobs market) that provides training throughout people's working lives.
To encourage the integration of young people into the employment market. To improve English skills amongst the population.
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