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Since the last edition of the OECD SME Outlook (2002), SMEs and entrepreneurship have continued to be a key source of dynamism, innovation and flexibility. It is worth recalling that SMEs account for over 95% of manufacturing enterprises and an even higher share in many service industries in OECD countries. Also, in most economies SMEs generate two-thirds of private sector employment and are the principal creator of jobs. In recent years, SME numbers appear to have grown at a faster rate than the overall enterprise population boosting the SME employment share. Although women represent a minority of those who are self-employed, women-owned SMEs have shown vibrant growth in a number of countries, notably in the United States and Canada.
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SMEs and entrepreneurship continue to be a key source of dynamism, innovation and flexibility. They account for over 95% of enterprises, generate two-thirds of employment and are the main source of new jobs. Entrepreneurial activity is especially dynamic in knowledge-based services. Women’s entrepreneurship has recently shown vibrant growth. SMEs increasingly engage in cross-border alliances and inter-firm collaboration. SMEs are particularly innovative in knowledgeintensive services, new technology-based firms, showing their capability to renew technology. SMEs increasingly rely on networks, clusters and partnerships for accessing information and new technologies. ICTs and e-business applications present a growing range of benefits to SMEs. To reap the full fruits of innovative activity, SMEs need to use effectively the intellectual property rights system.
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A range of new policy initiatives have been implemented in recent years to enhance SME dynamism and competitiveness. Prominent among these were measures to ease product market regulations and administrative barriers to entrepreneurship. ICTs, Web portals and online one-stop-shops are facilitating administrative simplification. Increasing attention is given to education and training for entrepreneurship, and a number of major initiatives in favour of women’s entrepreneurship have been taken. High priority is attached to easing SME access to financing, and to strengthening the knowledge and innovation base of SMEs. SMEs are increasingly encouraged to internationalise their operations. The importance of entrepreneurship and innovation for SMEs for fostering growth in a globalised, knowledge-based economy was highlighted by the 2nd OECD Ministerial Conference on SMEs in Istanbul in June 2004 and in its outcome the Istanbul Ministerial Declaration on Fostering the Growth of Innovative and Internationally Competitive SMEs.
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