Entrepreneurship pros:cons new firms

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o New and small firms promote economic development – offer multiple contributions to development in an economy, that are required by policy-makers’
Baumol (1968)
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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)
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o Entrepreneurs and SMEs encourage economic development as they can reduce unemployment and poverty
(Storey, 1994)
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o Including and especially when large firms are downsizing
(Birch, 1979)
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irrespective of the point on the economic cycle
(DTI, 2004)
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o New and small businesses accounted for 56% of employment and 52% of turnover in the UK in 2002
(DTI, 2004)
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o Important to avoid the narrow viewpoint that only new firms create jobs
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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

Preview of the front of card 3

Card 4

Front

o Including and especially when large firms are downsizing

Back

Preview of the front of card 4

Card 5

Front

irrespective of the point on the economic cycle

Back

Preview of the front of card 5
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