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OECD SME and Entrepreneurship Outlook 2019

image of OECD SME and Entrepreneurship Outlook 2019

The new OECD SME and Entrepreneurship Outlook presents the latest trends in performance of small and medium-sized enterprises (SMEs) and provides a comprehensive overview of business conditions and policy frameworks for SMEs and entrepreneurs.

This year’s edition provides comparative evidence on business dynamism, productivity growth, wage gaps and export trends by firm size across OECD countries and emerging economies. It explores the implications of digitalisation and globalisation for market conditions and SME access to strategic resources such as finance, skills, technology, data and other innovation assets. The report gives comparative analysis of regulatory frameworks and policies to enhance contributions by SMEs and entrepreneurs, and delivers a forward-looking perspective on the opportunities and challenges SMEs and entrepreneurs face in doing business and scaling up their activities. It also contains country profiles outlining the latest developments in national SME performance and business conditions, with expanded country profiles available on line.

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Australia

In Australia the cost for starting a business is among the most accommodative in the OECD. Past reforms cut red tape and business entry costs significantly. But the insolvency regime remains more stringent than the OECD median. The government is pursuing effort to reduce the regulatory burden on smaller firms. Since 2016, the Australian Small Business and Family Enterprise Ombudsman serves as an advocate for SMEs and plays a central role in designing SME-friendly federal laws. One of its first major outcomes is the conclusion of a Supplier Payment Code, engaging large businesses on a voluntary basis and bringing payment delays to less than 30 days. Australia also undertook a reform of insolvency laws in 2017, with a reduced default bankruptcy period (to one year instead of three) and a ‘safe harbour’ from personal liability for business owners.

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