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Week of May 19 - 25, 2008

OECD Embraces Entrepreneurship

Last week, the world’s leading entrepreneurship experts held a landmark meeting at the Kauffman Foundation’s campus in Kansas City. Sponsored by the Kauffman Foundation, the US Department of Commerce, and the Organization for Economic Cooperation and Development (OECD), the workshop examined how policymakers can best encourage the growth of innovative entrepreneurial firms. At the workshop’s conclusion, the OECD released an official statement, “High Growth SMEs (Small and Medium-Sized Enterprises) and Innovation Fuel the Entrepreneurial Engine,” that puts the organization on record in support of the “entrepreneurial engine that contributes to sustainable growth and social cohesion.” This commitment will help drive future OECD research and policy development and help ensure high level support for entrepreneur-friendly policies throughout the OECD member countries and economies.

Learn more about the OECD Working Party on SMEs and Entrepreneurship.

Small Business Confidence Ebbs

The latest OPEN from American Express Small Business Monitor survey shows that small business owners are increasingly gloomy about  future economic prospects. Only 45% of surveyed entrepreneurs
believe the nation’s economic performance will improve over the next six months. This figure represents the lowest confidence levels of the Monitor’s six years of existence. While they are gloomy, these business owners aren’t giving up on growth. In fact, 71% plan to grow their business over the next six months. Entrepreneurs also appear to be fairly satisfied with their decision to start a company, as three out of four would recommend that their friends or family consider becoming an entrepreneur. Finally, when it comes to
the 2008 elections, entrepreneurs plan to vote their pocketbooks. Forty-four percent cite the economy as the most important issue affecting their vote for President.

View the results of the Spring 2008 OPEN from American Express Small Business Monitor survey.
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How Government Can Learn from Entrepreneurs

A new Aspen Institute/Root Cause report examines how government agencies can apply new tools and organizational models designed by entrepreneurs to help solve pressing societal challenges. According to the study, social entrepreneurship offers “a new way to solve old problems.” The report contains numerous case studies of world-class social entrepreneurs, including organizations such as College Summit and New Leaders for New Schools, who embody a new problem-solving approach based on innovation, accountability, and sustainability. The report urges government agencies to help nurture these promising experiments, but not via a typical approach of directing activities from above. Instead, government should promote social innovators via awards programs, more effective evaluations of program impact, better dissemination of research results, and removing barriers, such as tax rules affecting 501(c) non-profits, that impede the development of new organizational forms. Finally, the report recommends creation of a new public-private Social Innovation Fund that would invest in promising social entrepreneurs.

Download the April 2008 Aspen Institute/Root Cause report, Advancing Social Entrepreneurship: Recommendations for Policy Makers and Government Agencies, by Andrew Wolk.

What Is on the Minds of MBA Students?

A new survey of students at fifteen leading business schools offers some insights into the minds of the world’s future business leaders. MBA students today appear to be taking a more holistic view of the role of business in society. The survey, sponsored by the Aspen Institute’s Center for Business Education, also found that more MBA students are seeking work that offers the potential to make a positive contribution to society. Twenty six percent of MBAs are now seeking this experience, compared to only 15% when the survey was last published in 2002. However, MBA students still cite challenging job responsibilities and compensation as the most important factors affecting their future job selection decisions. They also place a
strong emphasis on corporate reputation. Sixty percent of surveyed students cite reputation as an important factor in future job decisions.

Download the April 2008 Executive Summary of “Where Will They Lead 2008? MBA Student Attitudes about Business and Society", from the Aspen Institute Center for Business Education.

America’s Looming Infrastructure Crisis

A new Urban Land Institute/Ernst & Young report paints a grim picture of the state of America’s infrastructure. Anyone who drives in rush hour traffic, waits for a delayed flight, or who watches news reports of collapsed bridges knows that the US faces infrastructure challenges. The new study, Infrastructure 2008, puts some numbers and analysis behind this reality. At present, the US faces a $170 billion annual funding gap in terms of dollars needed to bring its physical infrastructure up to global standards. While the US spends little to close this gap, other nations are investing for the long haul. For example, China now invests nine percent of gross domestic product to support infrastructure needs. The threat of inaction stems not just from the hassles of traffic jams and delayed flights. World-class infrastructure, in the form of container ports, high-speed rail, and international air logistics hubs, will help determine which regions succeed in the 21st century economy. The report concludes with a host of recommendations for closing the infrastructure finance gap. Suggestions include more aggressive use of public-private partnerships, consolidation of Federal infrastructure programs, and creation of a National
Infrastructure Bank to help fund large-scale projects.

Access the April 2008 Urban Land Institute/Ernst & Young report, Infrastructure 2008: A Competitive Advantage.

The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

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All stories © 2008 The Public Forum Institute
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