The “Missing Entrepreneurs 2019” report focuses on inclusive entrepreneurship policies and is part of an ongoing cooperation between the OECD and the European Commission. The policies outlined in this EU report are aimed at reaching the target groups (such as women, migrants, youth) for whom the usual barriers to start and grow a business are larger than average.
EU Report Findings
Business creation by people from these groups helps generate jobs, fighting social and financial exclusion while stimulating economic growth. The EU report has found that the gender gap in entrepreneurship has only closed very slightly, while immigrants are more likely to be self-employed than they were a decade ago.
The report also discovered that these target groups are under-represented among digital entrepreneurs due to several factors such as the absence of digital entrepreneurship role models and lack of digital skills. It recommends that policy makers do more to address these specific barriers as well as addressing traditional barriers to business creation, including building entrepreneurial skills and developing stronger networks.
Entrepreneurs from these target groups are less likely to operate high-growth firms because they lack the skills, networks and access to finance needed for growth. However, they are also less likely to express motivation to grow their business. Growth ambitions require inspiring role models and more business management training to be provided.
Access to finance for business growth can be improved by supporting dedicated business angel networks and addressing gender biases in risk-capital decision-making.
The OECD and European Commission have also launched an online inclusive and social entrepreneurship tool to assist policy makers in the design and implementation of policies, strategies, initiatives and programmes.
Read more here.