o New and small firms promote economic development – offer multiple contributions to development in an economy, that are required by policy-makers’
Baumol (1968)
1 of 7
o Global Entrepreneurship Monitor (GEM) studies have discovered a significant link between the rate of entrepreneurial activity in a country and that country’s GDP
(Westhead and Wright, 2013)
2 of 7
o Entrepreneurs and SMEs encourage economic development as they can reduce unemployment and poverty
(Storey, 1994)
3 of 7
o Including and especially when large firms are downsizing
(Birch, 1979)
4 of 7
irrespective of the point on the economic cycle
(DTI, 2004)
5 of 7
o New and small businesses accounted for 56% of employment and 52% of turnover in the UK in 2002
(DTI, 2004)
6 of 7
o Important to avoid the narrow viewpoint that only new firms create jobs
LAST
7 of 7
Other cards in this set
Card 2
Front
o Global Entrepreneurship Monitor (GEM) studies have discovered a significant link between the rate of entrepreneurial activity in a country and that country’s GDP
Back
(Westhead and Wright, 2013)
Card 3
Front
o Entrepreneurs and SMEs encourage economic development as they can reduce unemployment and poverty
Back
Card 4
Front
o Including and especially when large firms are downsizing
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