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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Task force on entrepreneurship indicators – manual drafting group
Chair: Eurostat
Composition:
• OECD
• European countries: Denmark, Latvia, Sweden, Germany, Portugal, Estonia, Italy
• Non-European countries: Canada, United States
• European Commission: Eurostat, DG Enterprise
Meetings: Feb 2007, May 2007, planned Sep 2007
3
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Task force on entrepreneurship indicators – manual drafting group
Main results and conclusions (1):
• This group would take first steps in drafting a methodological manual on
entrepreneurship.
• The core part of the manual will be a harmonized list of indicators,
structured as appropriate, with related reference documents. It was agreed
that there needs to be room for the development of future indicators.
• The important role of business demography for the entrepreneurship
project was highlighted. Therefore it was considered to be crucial to publish
as soon as possible the methodological manual for business demography
• Eurostat will commit significant resources for future entrepreneurship
statistics within its new MEETS programme
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Task force on entrepreneurship indicators – manual drafting group
Main results and conclusions (2):
• It was agreed to set a threshold for firm creation with the “employer firm
birth (death) rate” indicating the emergence of a new firm with at least one
employee.
• There was agreement on the remainder of sections A and B of the matrix
list, it was proposed to merge both, as the border lines are not so clear cut.
These would be the core indicators describing the performance of an
economy in terms of entreprenership.
5
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Task force on entrepreneurship indicators – manual drafting group
Main results and conclusions (3):
• In view of the significant political interest in self employment in the EU
and beyond, it was decided to consider LFS data as a promising source to
measure the rate of self employment and other indicators related to the
entrepreneur (as a person).
• It was decided to use the experiences gained in the Eurostat pilot project
on linking trade data and enterprise variables for the analysis of
entrepreneurship effects on export and for the measurement of export
propensity of new firms.
6
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
• On indicators related to high growth, it was agreed that indicators of
high growth will be included in the core list of Entrepreneurship Indicators
but a final decision on the precise terms of the definitions will await the
findings of the workshop to take place in the fall.
• The group concluded consensus on the basic structure of the matrix list.
It was proposed to present the the basic structure of this list for
approval to the Istanbul meeting of the EISG. At the same time EISG is
requested to give the mandate to draft a manual to this group.
Task force on entrepreneurship indicators – manual drafting group
Main results and conclusions (4):
8
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
The question is, what we have to measure to provide the necessary information to policy makers in the
context of entrepreneurship
9
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
The first component of the measurement relates to the state of
the economy with regard to the entrepreneurship phenomenon
10
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
The second component of the measurement relates to factors that
might have an inpact on the entrepreneurship phenomenon and
that can be subjected to political control
11
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
The third component of the measurement relates to policy
targets that may be influenced by the entrepreneurship phenomenon
12
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
We had very little time
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Performance DeterminantsImpact
(= policy targets)
14
OECD/Eurostat 2007 [email protected]
Firm births and deaths
Entrepreneurship Indicators- Performance, Determinants and Impact
Performance19 indicators
Firm survival
Employment in new firms
Competitiveness contribution
15
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Market conditions
Access to finance
Technology and infrastructures
Supply of entrepreneurial spirit
Entrepreneurship culture
Regulatory framework
Determinants~ 50 indicators
grouped in 6 categories
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Creation of more and better jobs
Economic growth
Productivity growth
Increased SME competitiveness
Poverty reduction
Globalization challengesmastered
Reduction ofinformal economy
Enhancement ofjob satisfaction
Growth of workforce flexibility
Emigration of talent stopped
Impact12 potential
policy target areas
“Lead markets” created
Technological changes utilized
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Performance Determinants Impact
18
OECD/Eurostat 2007 [email protected]
Employer firm birth rate
Entrepreneurship Indicators- Performance, Determinants and Impact
Employer firm death rate
Business churn
Net business population growth
Firm births and deaths
Performance19 indicators
19
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Firm births and deaths
Firm survival
Employment in new firms
Competitiveness contribution
Performance19 indicators
20
OECD/Eurostat 2007 [email protected]
Survival rate among 3-year old businesses
Survival rate among 5-year old businesses
Proportion of young firms with 3-year survival
Proportion of young firms with 5-year survival
Entrepreneurship Indicators- Performance, Determinants and Impact
Firm survival
Performance19 indicators
21
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Firm births and deaths
Employment in new firms
Firm survival
Competitiveness contribution
Performance19 indicators
22
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Self employment: Business ownership rate among start-ups
Self employment:Business ownership rate in total firm population
Employment rate in 3 (and/or 5) year old firms
Average firm size by employees after 3 (and/or 5) years
Percentage of adults in population starting a new firm per month
Employment in new firms
Performance19 indicators
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Firm births and deaths
Employment in new firms
Firm survival
Competitiveness contribution
Performance19 indicators
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OECD/Eurostat 2007 [email protected]
Rate of high-growth firms by employment and/or turnover
Competitiveness contribution
Entrepreneurship Indicators- Performance, Determinants and Impact
Performance19 indicators
“Gazelles”: Rate of young high-growth firms by employment and/or turnover
Value-added contribution by new firms
Contribution of firms to productivity growth by size
Contribution of firms to productivity growth by age
Export propensity of new/small firms
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OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
• The EISG is asked to approve the list of performance indicators and
to mandate the MDG to produce a manual, where these indicators are
described in detail. This manual should become a joined Eurostat/OECD
manual, preferably supported also by other international organisations,
and should lead to a situation that all data produced on the basis of this
manual would be internationally comparable.
• To keep the current momentum, a first publication of data according to
this list is planned before the end of 2007.
Task force on entrepreneurship indicators – manual drafting group
Proposals to the EISG in detail
26
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Performance Determinants Impact
27
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
Market conditions
Access to finance
Technology and infrastructures
Supply of entrepreneurial spirit
Entrepreneurship culture
Regulatory framework
Determinants~ 50 indicators
grouped in 6 categories
28
OECD/Eurostat 2007 [email protected]
Entrepreneurship Indicators- Performance, Determinants and Impact
• As far as the determinants of entrepreneurship are concerned, the
MDG is proposing to the EISG to agree to the list of 6 areas of interest.
Work on these areas is in different stages of development.
• Work from different sources may feed these areas. In some cases this
goes beyond the sphere of National Statistical Offices, i.e. goes beyond
official statistics. A combination of sources is possible.
• These areas should give a frame for work in the different fields.
Task force on entrepreneurship indicators – manual drafting group
Proposals to the EISG in detail (2)
29
OECD/Eurostat 2007 [email protected]
Entrepreneurship IndicatorsPerformance, Determinants and Impact
Performance Determinants Impact
Firm births and deaths
Firm survival
Employment in new firms
Competitivenesscontribution
Employer firm birth rate
Employer firm death rate
Business churn
Net business population growth
Survival rate 3 years
Survival rate 5 years
Proportion 3 years survival
Proportion 5 years survival
Employment rate young firms
% adults starting firms
Ownership rate business population
Ownership rate start-ups
Rate of high-growth firms
Rate of Gazelles
Value-added young firms
Productivity contribution
Productivity growth contribution
Export propensity
Market conditions
Accessto finance
Technology and infra-structure
Supply ofentrepreneurialspirit
Entrepre-neurshipculture
Regulatoryframework
Creation of moreand better jobs
Economic growth
Productivity growth
Increased SMEcompetitiveness
Poverty reduction
Globalizationchallenges mastered
Reduction ofinformal economy
Enhancement ofjob satisfaction
Growth of workforce flexibility
Emigration oftalent stopped
Competition,competitive
arena
Anti-trust laws
Degree of public
ownership
Degree of public
involvement
Access to the domestic market,
public procurement
Access to foreign markets
Export share of young firms
Measures of export credits
Measures for debt financing
Cost of debtfinancing
by firm size
VC investment as %
of GDP
Private Equity in %
of GDP
Business angel
financing
Employment VC-backed
firms
Credit guarantees
University / industry interface
Technological cooperation
between firms
Industrialtechnology
transfer
Communication:Broadband
access
Patent system,standards
R&D andInnovation
data
Characteristicsof
entrepreneurs
Education andexperience ofentrepreneurs
Business andE-ship
education
E-shipsupport
infrastructure
Immigrationand E-ship
Intrapreneurship
opportunities
Risk attitudein societies
Attitudestowards
entrepreneurs
Desire forbusiness
ownershipFiscal
environment
Court-legalframework
Safety andhealth
regulation
Labour market
regulation
Productregulation
Environmentregulation
Firm start,close, exit and
bankruptcyregulation
Average firm size after 3 years
Days to start
Procedures
Cost to start
Time to close
Bankruptcy stigma
Mezzaninefinancing
Technologicalchanges utilized
Creation of “lead markets”