The EY G20 Entrepreneurship Barometer 2013
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The EY G20 Entrepreneurship Barometer 2013

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Together, governments, entrepreneurs and corporations can spur growth across the G20. The EY G20 Entrepreneurship Barometer 2013 enables each G20 nation to identify the strengths in its ...

Together, governments, entrepreneurs and corporations can spur growth across the G20. The EY G20 Entrepreneurship Barometer 2013 enables each G20 nation to identify the strengths in its entrepreneurial ecosystem. Find out which countries are getting it right, and which have lessons to learn.

For more information, please visit: http://www.ey.com/GL/en/Services/Strategic-Growth-Markets/The-EY-G20-Entrepreneurship-Barometer-2013

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The EY G20 Entrepreneurship Barometer 2013 Presentation Transcript

  • 1. The EY G20 Entrepreneurship Barometer 2013 The power of three Together, governments, entrepreneurs and corporations can spur growth across the G20
  • 2. Supporting entrepreneurship — a G20 imperative ► Entrepreneurs create jobs and drive growth. ► Today, their contribution is more important than ever. ► But they need to be given the tools and environment that will enable them to succeed. ► The power of three – governments, entrepreneurs and corporations need to work together to foster sustainable growth. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 1
  • 3. A call to action — the power of three 04 September 2013Page 2 For a thriving entrepreneurial ecosystem, governments, entrepreneurs and corporations must work together. The EY G20 Entrepreneurship Barometer 2013
  • 4. Introducing the EY G20 Entrepreneurship Barometer 2013 04 September 2013Page 3 The EY G20 Entrepreneurship Barometer 2013
  • 5. The entrepreneurial development framework: five pillars that foster entrepreneurship 04 September 2013Page 4 The EY G20 Entrepreneurship Barometer 2013
  • 6. The EY guide to funding entrepreneurial businesses Page 5 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 7. Overall country rankings 04 September 2013Page 6 The EY G20 Entrepreneurship Barometer 2013 The following represents the overall ranking of the G20 countries by quartile.* Quartile 1 represents the countries that are leading in fostering entrepreneurship. Each of the five pillars (Access to funding, entrepreneurship culture, tax and regulation, education and training, coordinated support was weighted equally to provide an overall country ranking. * Note: Countries are listed in alphabetical order per quartile.
  • 8. Access to funding 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 7 G20 entrepreneurs’ views: 70% say that it is difficult for entrepreneurs to access funding in their country. Half say improved access to funding is the most effective way to accelerate entrepreneurship. Top-ranked country:
  • 9. Access to funding — key insights ► Banks need a new lending model for entrepreneurs. ► Government funding can help close the funding gap. ► Innovation is required to broaden the early-stage funding ecosystem. ► Capital without mentorship is lost capital. ► Corporations can be encouraged to help fill gaps in the funding ecosystem. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 8 Almost half (46%) of entrepreneurs that are aware of crowdfunding say that it has improved in their country.
  • 10. Access to funding: a call to action Government action: where to focus ► Conduct a self-assessment of your entrepreneurial landscape ► Provide mentoring along with capital ► Boost access to funding ► Support stock markets The entrepreneur perspective: key issues to consider ► Ensure that your capital source is the right one ► Consider stock markets A corporate perspective ► Set up a corporate venturing unit ► Trade with entrepreneurs Page 9 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 11. Entrepreneurship culture 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 10 G20 entrepreneurs’ view: Only 15% of entrepreneurs say their country has a culture that fully supports entrepreneurship. Top-ranked country:
  • 12. Entrepreneurship culture — key insights ► Greater emphasis should be placed on the benefits of entrepreneurship. ► Celebrating success is inspirational and effective. ► Helping entrepreneurs recover from failure removes a cultural barrier to business creation. ► Women and the young can accelerate entrepreneurship. ► Migrant talent should be welcomed. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 11 84% think that raising awareness of entrepreneurs’ role as job creators would significantly improve attitudes to entrepreneurship. Two thirds (67%) view business failure as a negative experience, with only a quarter seeing it as an opportunity to learn.
  • 13. Entrepreneurship culture: a call to action Government action: where to focus ► Promote the power and value of entrepreneurship as the engine of economic growth ► Remove the stigma of failure ► Create networking opportunities The entrepreneur perspective: key issues to consider ► Share your story ► Help the next generation of entrepreneurs A corporate perspective ► Sponsor incubators and accelerators ► Recognize the contributions and success of entrepreneurs Page 12 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 14. Tax and regulation 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 13 G20 entrepreneurs’ view: 83% say that an increase in tax incentives focused on innovation would improve the health of entrepreneurship in their country. Top-ranked country:
  • 15. Tax and regulation — key insights ► It is becoming easier to start a business in many markets. ► Tax cuts and simplification top the entrepreneurial wish list. ► Policymakers must target tax and regulatory reform at every stage of the growth journey. ► Entrepreneurs want help in navigating regulation and a bigger voice in its development. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 14 84% want tax systems to be simplified. 38% say they want the ability to voice their concerns on business regulations, making this their top suggestion for how countries could improve their regulatory environment.
  • 16. Tax and regulation: a call to action Government action: where to focus ► Reduce the indirect tax burden ► Simplify the tax system ► Make it easier to navigate the tax system ► Give entrepreneurs a voice on regulation ► Simplify insolvency rules ► Stimulate innovation Page 15 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 17. Tax and regulation: a call to action The entrepreneur perspective: key issues to consider ► Use tax simplification methods to improve cash flow and decrease compliance costs associated with paying taxes ► Explore government resources ► Know your R&D Incentives ► Get involved A corporate perspective ► Share your public policy experience ► Drive change Page 16 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 18. Education and training 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 17 G20 entrepreneurs’ view: Sharing success stories is ranked as the most impactful way to inspire people to become entrepreneurs. Top-ranked country:
  • 19. Education and training — key insights ► Formal entrepreneurship education is improving across the G20. ► Mentoring, coaching and informal education is also getting better. ► Entrepreneurs believe the skills needed to run a business can be taught. ► Integrating entrepreneurship education into the school environment will improve its perception. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 18 84% agree or partly agree that they need specific education to become successful entrepreneurs. 52% say that university and business school courses for entrepreneurship have improved in their country.
  • 20. Education and training: a call to action Government action: where to focus ► Embed entrepreneurial learning into the school curriculum ► Support young people who chose an entrepreneurial career ► Encourage life long learning for entrepreneurs The entrepreneur perspective: key issues to consider ► Look for the educational opportunities that suit your needs ► Seek out and learn from other entrepreneurs ► Give back to help others A corporate perspective ► Expand internship programs to provide more hands-on experience ► Mentor entrepreneurs Page 19 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 21. Coordinated support 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 20 G20 entrepreneurs’ view: Business incubators are a top-ranked tool for accelerating entrepreneurship, according to 36% of entrepreneurs surveyed. Top-ranked country:
  • 22. Coordinated support — key insights ► Coordinated support creates the foundation for entrepreneurial success. ► Access to government start-up programs is deteriorating. ► Business incubators remain extremely important. ► Clusters can thrive with the right kind of support. ► China has stalled in a number of key areas where other BRIC nations are improving. ► Entrepreneurs prioritize funding ahead of other forms of government support. 04 September 2013 The EY G20 Entrepreneurship Barometer 2013Page 21
  • 23. Coordinated support: a call to action Government action: where to focus ► Create clusters to accelerate entrepreneurship ► Build stronger links between different players in the ecosystem ► Support and improve incubators and accelerators The entrepreneur perspective: key issues to consider ► Capitalize on networks ► Give back ► Join an incubator or accelerator ► Consider your location carefully ► NGOs and not-for-profits play an important role A corporate perspective ► Access innovation ► Connect with entrepreneurs Page 22 04 September 2013 The EY G20 Entrepreneurship Barometer 2013
  • 24. Thank you
  • 25. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY’s Strategic Growth Markets Network EY’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of high-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early-stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business succeed. ey.com/sgm © 2013 EYGM Limited. All Rights Reserved. EYG no. CY0582 ED 0715 This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. ey.com