and policy analysis on structural changes affecting the developing and transitional economies, provides a forum for the advocacy of policies leading to robust, equitable and environmentally sustainable growth,
Tables and figures appear at the end of the paper. 1 1 Introduction Small and medium enterprises (SMES) have been considered one of the‘driving forces'of modern economies due to their multifaceted contributions in terms of technological innovations
because innovation lends competitive edge to firms, industries and ultimately, economies. Therefore, technological innovation has the potential to spur growth of individual enterprises at the micro level and aggregate industries and economies at the macro level.
Given the above, this paper attempts to understand issues such as what factors drive SMES to innovate,
Of course, the relative importance of these internal as well 2 as external factors might vary from firm to firm or from industry to industry or even from economy to economy and from time to time.
such as corporate governance, the information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences
Combined with an average annual cost per patient upwards of EUR 30 000 and a population of just over 1 million in the Balearic region the cost of stroke could take a heavy toll on the local economy.
In many cases, measures driving the markets for innovation are, even more important for the growth of the economy than stimulation of the production of innovations.
1 Opportunities and challenges in the global economy...2 Australia has succeeded by playing to our strengths and through economic reform...
Improving Australia's competitiveness is a central part of the Government's Economic Action Strategy to build a strong, prosperous economy and a safe, secure Australia.
Improving Australia's competitiveness is essential in building the stronger economy that we all want.
Opportunities and challenges for the Australian economy The increasing economic strength of Asia and growing integration of the global economy present great opportunities for Australia.
A number of Asian economies are climbing up the value chain, shifting from largely low skilled industries to high skill jobs
Other advanced countries are aggressively reforming their economies. They are reducing barriers to trade in goods and services
Only through similarly ambitious reforms can Australia secure its future as a high wage economy with a strong social welfare safety net in the face of this vastly more competitive world.
and equipping our economy for the challenges ahead, to prevent Australia's economy from drifting.
The Government's vision is of a nimble economy, capitalising on Australia's strengths. It includes businesses
and workers equipped with the skills and incentives to adapt to changing economic conditions and able to seize new opportunities.
These types of businesses benefit the broader economy by testing new ideas, developing new products and implementing new business models.
More generally, in an increasingly globalised economy, it will be critical that all businesses have the people
The world's major economies have committed to undertake ambitious reforms with the goal of lifting collective G20 GDP by more than 2 per cent above the current trajectory over five years.
and improving access to international markets and opening up the economy to greater domestic and international competition.
and improving access to international markets and opening up the economy to greater domestic and international competition.
Reducing the regulatory burden Regulation is necessary for a well-functioning economy and society, but too often the first reflex of governments has been to regulate,
and services on which society and the economy depend, but this comes at a cost to individuals, businesses and the economy.
The Government will work to reduce taxes, simplify the tax system and increase certainty. Actions already taken:
Increasing domestic and international competition The Government will further open our economy to domestic and international competition
Attracting the best and brightest to meet Australia's skill needs Highly skilled migrants contribute to a strong and vibrant economy, bringing know-how, innovation and entrepreneurship and also helping to plug short-term skills gaps.
the changes taking place in the international economy also present further challenges to our living standards.
Opportunities and challenges in the global economy The economic strength of Asia is changing the world.
Economies like China, India, Indonesia, Vietnam, Malaysia and the Philippines have grown dramatically over the past 30 years
By 2025, China will be the largest economy in the world and the GDP of emerging Asia1 will be around US$51 trillion (Chart 1), 2 approximately five times all the already-developed Asian economies combined (Au-Yeung et al, 2013).
Emerging Asia represented around 9 per cent of the global economy in 1985. By 2025 it will be around 40 per cent (Au-Yeung et al,
2013). 1 Emerging Asia includes: China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. 2 Purchasing power parity in 2011 dollars.
Meanwhile, many Asian economies are becoming major new suppliers of these same goods and services, bringing serious competition to the global stage (Chart 2). To date,
) As Asian economies invest in education, skill up (Chart 3) and move up the value chain,
This growth is taking place against a backdrop of a global economy that is becoming increasingly integrated.
The global economy is also becoming more integrated as governments negotiate free trade agreements and unilaterally reduce trade and investment barriers.
Effective tariffs in OECD economies have halved in the past 30 years, falling from around 4 per cent in 1988 to below 2 per cent today (World bank,
This will require a flexible economy that can absorb declines in some sectors and quickly expand into others as opportunities emerge.
and goods and services, has been critical to the growth and development of Australia's economy.
) Imports and the inflow of foreign investment and skilled migrants have not only helped to physically build our economy,
our education system was ranked in the global top 15 in 2014 (Economist Intelligence Unit, 2014). We speak the language of business English
Australia's success also stems from our proud history of making the hard decisions to reform our economy.
In the early 1970s, the Australian economy was volatile, insular and inflexible. Today, thanks to the hard won reforms of the decades that followed,
Australia's economy is more stable, open and flexible. Australia floated the dollar, introduced independent monetary policy,
This expansion created stresses within the economy, particularly in trade-exposed sectors, through its effects on domestic costs and the exchange rate.
Economic reforms of the past allowed the economy to smoothly absorb the resources boom. The combination of a floating exchange rate, flexible capital and product markets and independent monetary policy stopped the economy from overheating.
This contrasts sharply with the last terms of trade boom in the 1970s. Although only around one third of the size, the 1970s boom was associated with a surge in inflation
but the economy's inflexibility exacerbated an already difficult situation. Many industries have bright prospects With the resources investment boom now fading,
A number of private sector economists have identified industry sub sectors with growth potential. While the growth estimates differ in the details
Services have grown already to be the mainstay of the economy, contributing over 70 per cent of output
Australian services exports also make an important contribution to Australia's economy. Australia exported around $58 billion worth of services in 2013-14,
TPO00007 Industry Innovation and Competitiveness Agenda Industry Competitiveness 10 Industry Innovation and Competitiveness Agenda This highlights the need for a nimble economy
They are at the heart of the creativity that our economy will need in the future. Much will also be required of our workforce,
More generally, in an increasingly changing, globalised economy, it will be critical that all businesses, small and large, have the people
This underpins forecasts for education exports to contribute more than $19 billion to our economy by 2020, particularly through students from China and India (International Education Advisory Council, 2013). 0 20 40 60 80
The growth potential of this‘visitor economy'is strengthened further by increasing domestic tourism as reflected in Chart 8. 8. Financial and professional services Australia's banking,
Reflecting the highly skilled, innovative nature of the Australian economy, professional, scientific and technical industries accounted for more than 7 per cent of value add in 2011-12 (Australian Workforce and Productivity Agency, 2013.
and challenges and are acting to bring their economies into line with international best practice.
Advanced economies are reining-in inefficient government spending reducing corporate tax rates, deregulating and improving competition, making investments in infrastructure and skilled workforces,
Australia has many of the fundamentals required for a productive and competitive economy. The OECD ranks Australia around the average of its member nations on most aspects of government policy and we rate well on dimensions such as macroeconomic and financial sector policies, income and wealth, jobs and earnings,
Stronger market sector jobs growth despite increases in jobs in the resources and related sectors, employment outside the public related sectors of the economy has been weak (Box A3.
Jobs in the‘market'sector of the economy, on which long term economic growth and government revenues depend,
Strategy is about strengthening the economy and delivering benefits to the community, including through less reliance on government, freeing up business and more long-term investment.
the Government recently concluded negotiations of trade agreements with both Japan and South korea it is estimated the Korea Australia Free trade Agreement alone will add $650 million to the Australian economy every year from 2030 (Centre for International
The world's major economies have committed to undertake ambitious reforms with the goal of lifting collective G20 GDP by more than 2 per cent above the current trajectory over five years.
or work practices before they spread more broadly through the economy. The competition that this elicits challenges incumbent firms to do better.
Entrepreneurs are important in building a dynamic and innovative economy. However entrepreneurs are less likely to pursue opportunities
The Government intends to scale back intervention in the economy to restore the balance. Lower government spending will allow taxation to be reduced sustainably over time.
and often pioneer these before they spread more broadly through the economy. This is why small business entrepreneurs are important to future economic growth, improved job prospects and better living standards.
there are clear limits to the scope for sectoral policies to lift an economy's overall competitiveness.
Strengthening management capabilities will enhance the capacity for small businesses to compete in a digitalised, global economy.
and the economy restructures. The Government is committed to fostering an innovative culture among small businesses
and improving access to high-quality, low-cost inputs to business by opening the economy to greater domestic and international competition.
Regulation is necessary for a well-functioning economy and society, but there are costs that should not be ignored.
and risk assessments of some highly regarded regulators in other advanced economies not being recognised in Australia.
and services our economy and society depend on, but taxes impose direct and indirect costs on businesses and individuals.
more than 23 cents of value is lost to the economy (KPMG, 2010. Although dividend imputation reduces the burden of company tax in Australia for domestic shareholders,
The OECD has suggested that the Australian economy would benefit from a shift toward less mobile
and impose additional, often hidden, costs on the economy. Changes to tax law should not be seen as a‘quick-fix'solution
low-cost business inputs through greater domestic and international competition Reinvigorating competition across the Australian economy will help bring down costs for businesses and consumers.
and increasing competition across the economy to improve Australia's international competitiveness. Australian businesses use a range of domestic and international inputs.
Australia opened up the economy to international trade and investment, lifting our competitiveness and living standards (Productivity Commission, 2005).
The National Competition Policy reforms that followed the Hilmer Review in the 1990s had a significant and positive effect on the Australian economy.
given the changes to the Australian economy in recent decades and our increased integration into global markets.
and the competitiveness of financial services is critical to the broader Australian economy (ABS, 2014b). As G20 president in 2014, Australia is focusing the G20's efforts on delivering key aspects of the G20's financial regulation reforms.
enhancing competitiveness and growing an economy. For example, one estimate is that scientific and technological advances have produced roughly half of all United states economic growth in the last 50 years.
However, concerns have been raised about the VET system's ability to deliver the skills demanded by the Australian economy.
innovative work practices, new and emerging opportunities, opening export markets and emerging economies. Larger companies may apply to access the Fund,
Attracting the best and brightest to meet Australia's skills needs Skilled migration is critical for a strong and vibrant economy.
The Australian economy continues to adapt and change as the world changes and our workplace relations system must do the same,
but we want to ensure it helps build a more stable, fair and prosperous future for Australia's workforce, businesses and the economy.
and expand the economy's long term productivity. Over the next six years, the package will take the Commonwealth's total investment in transport infrastructure to $50 billion,
The Government also recognises that communications infrastructure is a key enabler for a competitive economy.
is central to firm performance in knowledge-based economies. The quality of management is particularly important to enable quick adaption to evolving markets and changing circumstances.
innovative work practices, new and emerging opportunities, opening export markets and emerging economies. Larger companies may apply to access the Fund,
Indeed, many of the new jobs generated in OECD economies since the global financial crisis were in small, young businesses (Criscuolo et al, 2014).
and keeping Australian companies competitive in an international economy, which includes giving entrepreneurial start-ups the chance to employ the best people.
and often pioneer these before they spread more broadly through the economy. Enabling small businesses to reach their potential will
The Strategy is about strengthening the economy and delivering benefits to the community, including through less reliance on government, freeing up business and more long-term investment.
if we are to successfully grasp the opportunities presented by the economic strength of Asia and integration of the global economy.
Economist Intelligence Unit. 2014). ) The Learning Curve. Pearson. Elborgh-Woytek, K.,& et al. September 2013.
Women, Work and the Economy: Macroeconomic Gains from Gender Equity. International monetary fund. Elms, D. K, . & Low, P. 2013).
) Employee Share Schemes Their Importance to the Economy. Employee ownership Australia and New zealand. Farquhar, S. 2014, February 18.
Achieving stronger growth by promoting a more gender-balanced economy. OECD, ILO, IMF and World bank Group.
The Conference Board Total Economy Database. Retrieved May 2014, from The Conference Board Total Economy Database:
http://www. conference-board. org/data/economydatabase/Times Higher education. 2014, October. Times Higher education World University rankings 2014-15.
) Chief Economist Goldman sachs, quoted in‘Cost of gender gap put at $195b'.'Retrieved July 2014, from The Sydney Morning Herald:
Country/Economy Highlights. Geneva: World Economic Forum. World Economic Forum. 2014b). ) The Global Competitiveness Report:
the public sector constitutes an important part of the Norwegian economy. The Government wants to have a sustainable,
It is meant to encapsulate in one way or another the recognition that in a global economy,
The most successful economies of the future will be those which excel at generating and disseminating knowledge and exploiting it commercially (see Innovation into Success, UKSPA, Issue 1,
in business and the economy. Since the Green Paper on Innovation in 1995 the European commission has been furthering the development of a European policy on innovation
-Driven Economy (2004) has identified Innovation Management Techniques (IMT's) defined as the range of tools,
Innovation-scientific, technical, organisational and managerial-is the key to survival and success in the new knowledge economy.
They also wanted recommendations for economies or process improvement in technical support, help desk and staff development areas.
Volumes, production, economies? Seasonal, weather, fashion influences? Threats Political effects? Legislative effects? Environmental effects? IT developments?
Economy-home, abroad? Seasonality, weather effects?""Innosupport: Supporting Innovation in SMES"-2. 2. SWOT Analysis page 19 of 271 2. 2. 4. Tips for successful SWOT analysis Top Tips But remember 1
Supporting Innovation in SMES"-6. 2. Rapid prototyping & Product Testing Strategies page 119 of 271 economists.
Supporting Innovation in SMES"-7. 2. International Regulations page 158 of 271 Economy and efficiency A cost-effective and timesaving way of applying for patent protection in several different
and contribute to the growth of the national economy through employment creation, investments and exports.
Despite the importance of SMES for the vitality of the economy and the potential offered by the IP system for enhancing SMES competitiveness,
The linkage between an organisation's overall strategy and its IP strategy will be more significant in the new economy than it was before.
In the new economy one of the preconditions for being able to compete is that an organisation can create,
It is probably the most important development in business and communication in the history of the global economy.
Gmbh (Polytechnic) Campus 02 Fachhochschule Studiengänge der Wirtschaft (Courses for Economy in Campus 02 Polytechnic)" Innosupport:
Nowadays, in a globalised economy, foreign language and intercultural competencies have become decisive factors. Products, services and information are moving fast between continents
Economically and with the integration of the European union large companies as well as small firms operating in a knowledge based economy have to rely increasingly on the interrogation of nondomestic sources of information and knowledge bases,
and development opportunities of developing economies and to assist their efforts to integrate into the world economy The World Economic Forum (WEF) www. weforum. org is a private not-for-profit foundation that operates conferences for business, political
(ICT) have enhanced greatly the competition spurred by the globalization of the world economies. Even small and medium-sized enterprises (SMES) are no more immune to the challenges that the globalization brings about.
and in certain instances worrisome, situation since SMES play a key-role in most economies,
22 5. 2 Cost Explosion in Booming Economies...22 5. 3 Protection of Intellectual Property rights...
R. Tiwari and S. Buse (October 2007) Page 4 of 31 1-Introduction Technological advancements, especially in Information and Communication Technologies (ICT) have enhanced greatly the competition spurred by the globalization of the world economies.
and in certain instances worrisome, situation since SMES play a key-role in most economies,
Innovative ideas and products are becoming increasingly important to counter the priceoriented competition from low-cost producers from emerging economies
while elaborating the crucial role that SMES play in the economy. 2. 1 Innovation Innovation,
even though SMES play an important role in the national economy as discussed in the following.
2 These data exemplarily demonstrate the key-role which SMES play in Germany's economy.
For detailed discussions on SMES'role in the German economy see Hamer (1997), Bundestag (2002), Günterberg and Kayser (2004),
and find themselves faced with tough price-oriented competition from low-cost producers from emerging economies in Asia
Moreover, blocking foreign firms from doing business in the country may lead to trade retaliations abroad that could severally affect an export-oriented economy like that of Germany.
and other developed economies we conducted a new set of investigation. The methodology and selected results of this study are explained in the following. 3. 2 Findings of the Survey RIS-Hamburg To identify barriers to innovation in SMES in the Metropolitan Region of Hamburg we at first conducted an empirical study in form
the survey targeted mainly SMES from the fields of IT, Media, Civil Aviation, Electronics, Machinery Manufacturing, Maritime Economy, Medical Equipments, Logistics,
emerging economies in Asia are rapidly taking over the role of lead markets by their openness for consumption
More and more people in emerging economies are having financial resources to buy high-end products (EIU, 2004), and the number of the middle class consumers is growing rapidly in emerging countries particularly China and India.
2007). 5-Challenges of Global Innovation The section above has given us a broad overview over how global innovation may be used as a chance to mitigate the effects of innovation barriers prevalent in Germany and inter alia in advanced economies.
%The shortage of qualified personnel is also felt in the booming economy of China, where German firms are finding it increasingly difficult to recruit local technicians,
2006). 5. 2 Cost Explosion in Booming Economies The cost advantage of many emerging nations with booming economies is disappearing in many respects, for instance,
In this respect the internationalization of R&d seems to be a useful instrument to mitigate the effects of barriers to innovation often faced by SMES in Germany, the EU or anywhere else in industrialized economies.
The globalisation of research and development, Economist Intelligence unit. Ernst, D. 2006: Innovation Offshoring: Asia's Emerging Role in Global Innovation Network, East-West Center Special reports, No. 10/2006.
thus a critical factor for individual firms'success as well as for improved national performance in today's global economy. 2. Innovation is a broad term that encompasses virtually any new development in firms.
creating a more dynamic economy and greater employment opportunities. In fact, the national climate for private sector innovation has an impact on businesses of all sizes,
but also more generally for providing a competitive foundation for national economies. Because they often lack the resources to engage in in-house training,
Malaysia is one of the fastest growing economies of the world and is based largely on SMES that contribute almost 33 percent to the national GDP.
researchers question the role of innovation in maintaining the growth of the Malaysian economy and the role of innovation in the overall performance of the SMES.
Evidence on the role of public policy, ETLA Discussion Papers, The Research Institute of the Finnish Economy (ETLA), No. 820 27 Salim,
'29 3-Capturing innovation impulses from emerging economies...30 4-Capabilities for Design-Driven Innovation in European SMES...
innovative companies create the majority of new jobs in the European economy. A strong rationale exists for public support to SMES'innovation activities
and progress towards a resource-efficient economy. Further leverage and complement support for innovation in SMES and other funding,
Germany 3-Capturing innovation impulses from emerging economies During the next decades growth of the world economy will be concentrated in emerging economies with a small
and service innovation activities towards the needs of clients in emerging economies and identify new business opportunities for such product even in mature markets.
but are limited not to, case studies (in print, audio or video) for awareness and analysis, methodological guides to capture consumer preferences in emerging economies, guides to cooperation with local science, technology and innovation agents,
To capture the growth opportunities notably in developing countries and emerging economies enterprises innovate specifically for these markets building on local expertise and inventiveness.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY TOWARDS A MORE RESPONSIBLE AND INCLUSIVE GLOBALISATION EXECUTIVE SUMMARY OF THE BACKGROUND REPORTS Second OECD Conference of Ministers responsible for Small and Medium-sized Enterprises (SMES
) Promoting Entrepreneurship and Innovative SMES in a Global economy Towards a More Responsible and Inclusive Globalisation Executive Summary of the Background Reports Istanbul,
and thus to contribute to the development of the world economy; to contribute to sound economic expansion in member as well as nonmember countries in the process of economic development;
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 3 Table of contents Preface...5 Introduction...
17 SMES in the Global economy...25 Enhancing the Role of SMES for Development...32 Evaluation of SME Policies and Programmes...
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 5 Preface At the first OECD Conference for Ministers Responsible for SMES, hosted by the Italian government in Bologna, Italy, in June 2000,
Ministers from nearly 50 member and nonmember economies adopted the Bologna Charter for SME Policies.
and nonmember economies and that it would be followed up by a continuous monitoring of progress with the implementation of the Bologna Charter.
The wide variation in stages of economic development, institutional arrangements and political context across the economies participating in the Bologna process, now more than 80,
The messages and recommendations outlined below provide material from which governments may choose to draw in promoting innovative SMES in the global economy.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 7 Introduction Ministers have the opportunity to assess priorities for SME policies The second OECD Conference for Ministers Responsible for SMES brings together 30 OECD countries
and more than 50 nonmember economies at Ministerial level to exchange views on Promoting Entrepreneurship and Innovative SMES in a Global economy.
Some of the issues relate to policies that affect the whole economy and hence the general business environment in which SMES must operate.
and ways to encourage 1. This work is an important part of the follow-up to the OECD Growth Project (The New Economy:
Beyond the Hype, OECD, Paris, 2001) which underlines the need for micro-policy reforms to enhance innovation and productivity in knowledge-based economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 8 OECD 2004 SMES, especially in developing economies,
SMES in the global economy. Enhancing the role of SMES for development. The final two sections summarise work relating to two sets of issues
The creation of new businesses and the contraction or exit of less productive firms are key elements in the dynamism of modern economies.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 9 innovative firms once they establish themselves.
or products and contribute to productivity improvements in the economy as a whole. While in the short term cost reductions and increased competitive pressure can lead to job shakeouts,
Many of these affect the economy as a whole but impinge importantly on potential entrepreneurs and SMES.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 10 OECD 2004 way these structural policies affect enterprise creation and small businesses should be taken into account in their formulation stages.
which the World bank finds is generally more flexible in advanced countries than in developing economies, limits management flexibility and leads to smaller firm size and less research and development as well as less investment in technology.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 11 instruments for encouraging entrepreneurial behaviour in societies,
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 12 OECD 2004 of these programmes and policies are designed
Policy design in areas such as competition, the regulatory framework, the tax system, labour markets, financial markets and bankruptcy laws should take account of the way these areas impinge on SMES and innovation in knowledge-based economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 13 and based on evidence to the degree that this is possible.
Indeed, self employment represents one of the most important job options for women, especially for women in developing economies.
and their prospects for success. PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 14 OECD 2004 Figure 1. Female employers and own-account workers Percentage of total employers and own
Canadaindonesia Japan Korea Mexiconew Zealandphilippinesunited States Selected APEC economies, 1998 PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 15 The empirical basis for informed policy design needs to be improved Reliable data
and analysis relating to women's entrepreneurship are scarce and provide little empirical basis for policy design.
and entrepreneurial activities more PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 16 OECD 2004 specifically.
Such policies are part of the wider package of economic and social arrangements in any economy
Economies in transition and the Nordic countries, for example, have some of the best provisions for working women
Networks should be encouraged both within economies and internationally to support the diffusion of knowledge and experience within the private sector to facilitate entrepreneurial endeavours by women.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 17 Tools for SME Innovation Financing for innovative SMES Access to risk capital is a major obstacle to SME expansion.
Co-operation and partnerships between national and international networks can facilitate entrepreneurial endeavours by women in a global economy.
Improve the factual and analytical underpinnings of our understanding of the role of women entrepreneurs in the economy.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 18 OECD 2004 capital. First, the returns to innovative activities are highly uncertain and often skewed.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 19 accessing finance are most acute (Figure 2). It should also be managed by the private sector
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 20 OECD 2004 Basle II agreement on innovative SMES and on SMES in general in developing countries should be the object of further research
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 21 Recognition and measurement of intangible assets should be improved.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 22 OECD 2004 and geographically concentrated clusters of innovative firms are another.
US GU 12.9 14.4 16.0 15.8 21.9 19.1 PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 23 development, the regional attractors of knowledgeintensive foreign direct investment,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 24 OECD 2004 Key policy recommendations Improve SMES access to information about networking opportunities.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 25 SMES in the Global economy Facilitating SMES'access to global markets Globalisation offers SMES opportunities The globalisation of business has drawn increasingly SMES
the broad picture for many OECD and some nonmember economies is that of a low,
A study conducted for Asia-Pacific Economic Cooperation (APEC) economies suggests that SMES account for less than 30%of total exports in the region. 3 3. C. Hall, Profile of SMES and SME Issues
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 26 OECD 2004 In Europe exporting activity rises with firm size.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 27 across borders. This applies especially to access to information as regards tax
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 28 OECD 2004 business-to-business interaction and real-time communication can reduce information asymmetries between buyers and sellers and build closer relationships among trading partners.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 29 technologies to encourage interoperability and innovation and to expand choice.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 30 OECD 2004 and digital content, including increased use of e-government services,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 31 Key policy recommendations Move beyond policies for basic connectivity
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 32 OECD 2004 Enhancing the Role of SMES for Development Transition
and developing economies need to strengthen their capacity to take advantage of trade and investment opportunities.
which countries grow is their ability to integrate with the global economy through trade and investment.
Enterprises in transition and developing economies face major challenges in strengthening their human and institutional capacities to take advantage of opportunities in these areas.
In the poorest countries they nevertheless make up a relatively small part of the economy, contributing less to employment
SME development strategy must be integrated into the broader national PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 33 development and poverty reduction strategy of transition and developing countries.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 34 OECD 2004 Trade and investment capacities of SMES must be strengthened.
The potential benefits of foreign direct investment to host economies include sources of external capital
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 35 competitors who set new standards and necessitate greater efficiency,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 36 OECD 2004 Governments in advanced economies should promote policy coherence and greater effectiveness of development assistance.
Development partners need to recognize that better attention to local conditions is necessary for trade and investment capacity building in transition and developing economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 37 Evaluation of SME Policies
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 38 OECD 2004 SME policy makers should develop an evaluation culture.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 39 delivering the programme. Their detailed knowledge of the programme will be less, however
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 40 OECD 2004 Towards More Systematic Statistical Measurement of SME Behaviour The empirical basis for SME policy formulation is poor.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 41 Available high-quality empirical analysis, notably crosscountry comparative studies and longitudinal studies
Nonmember economies should be involved in this work where possible. Develop an integrated business statistical register. This requires that countries introduce a single identification number for enterprises,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 42 OECD 2004 It is desirable to contain costs at statistical agencies
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