SMEs, Entrepreneurship and Innovation

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Small firms are playing an ever-increasing role in innovation, driven by changes in technologies and markets. Some spin-offs and high growth firms are having remarkable success. However, the broad bulk of small firms are not capitalising on their advantages. This book explores how government policy can boost innovation by improving the environment for entrepreneurship and small firm development and increasing the innovative capacities of enterprises. Policy findings and recommendations are presented in three key areas: embedding firms in knowledge flows; developing entrepreneurship skills; and social entrepreneurship.  In addition, country notes present statistics and policy data on SMEs, entrepreneurship and innovation for 40 economies, including OECD countries, Brazil, China, Estonia, Indonesia, Israel, the Russian Federation, Slovenia and South Africa.

SMEs, Entrepreneurship and Innovation is part of the OECD Innovation Strategy, a comprehensive policy strategy to harness innovation for stronger and more sustainable growth and development, and to address the key global challenges of the 21st century.



The National Credit and Investment Society (SNCI) is a state-owned bank that specialises in financing medium- and long-term projects undertaken by Luxembourg-based companies. With resources standing at EUR 580 million in 2005, the Society provides financing through equipment loans, medium- and longterm loans, innovation loans, financing of foreign investments, equity loans and participating interests in small companies. The SNCI usually co-finances projects at an average rate of 25% of costs for fixed assets of industrial projects or up to 75% of costs incurred by first-time young craftsmen, traders, hoteliers and restaurant owners.


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