Small and medium-sized enterprises (SMEs) have been a significant driver of employment growth in recent year. But the new OECD SME and Entrepreneurship Outlook highlights that most SME job creation has been in sectors with below average productivity levels.
While SMEs are more engaged in new organisational or marketing practices than large firms, and sometimes more innovative in developing new products and processes, many continue to struggle disproportionately to navigate the increasing complexity in technologies and markets.
“We need a fundamental rethinking of SME and entrepreneurship policies to improve business conditions and access to resources,” said OECD Secretary-General Angel Gurría, launching the report at the annual OECD Forum. “We need a renewed policy and measurement agenda to understand how countries, regions and cities can capitalise on their many diverse small businesses as drivers for inclusive and sustainable growth.”
Bringing together unique data and evidence on SME performance and policies, the OECD SME and Entrepreneurship Outlook offers policymakers new benchmarking tools and insights on good practices to help frame national SME and entrepreneurship policies. The report also explores the implications of digitalisation and globalisation for market conditions and SME access to strategic resources such as finance, skills, technology, data and other innovation assets.
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