A Framework for Addressing and Measuring Entrepreneurship Anders Hoffmann, Ph.D. Creative Director, FORA Nadim Ahmad Head of Business Statistics, OECD

The definition Entrepreneurs are those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets. Entrepreneurial activity is the enterprising human action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets. Entrepreneurship is the phenomenon associated with entrepreneurial activity.

Important points Distinction between Entrepreneurs and Entrepreneurial Activity Entrepreneurship is not linked to size Failure is a very important part – so seeking is the key word Entrepreneurs create value

Framework Entrepreneurial Impacts Determinants Performance

Framework We are currently Fly me to Fly on the wings cruising at 300 mph Fly me to the moon Fly on the wings of love Entrepreneurial Impacts Determinants Performance

Framework Entrepreneurial Impact Determinants Performance Job creation Economic growth Poverty reduction

Framework

Note Not all new firms are entrepreneurs (definition of value determines how many) Number of high-growth firms does not capture all entrepreneurs

Regulatory framework Culture

Framework

Way forward Performance is well on its way – ley us get some data out! Determinants still need a lot of work – our focus for next year?