entrepreneurship at a glance highlights 2018 · entrepreneurship (tie), trade by enterprise...
TRANSCRIPT
Entrepreneurship at a Glance
2018 Highlights
SDD 10 October 2018
OECD
Entrepreneurship at a Glance Highlights 2018
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 1
List of figures
ENTREPRENEURSHIP AND BUSINESS STATISTICS DATABASES 2018 UPDATE 2
1. New enterprise creations, selected countries ....................................... 4 2. Bankruptcies, selected countries .......................................................... 5 3. Share of sectors in employment creation by employer enterprise births6 4. Job creation rate, top sectors ................................................................ 7 5. GDP and number of enterprises ........................................................... 8 6. Number of enterprises by size, business economy .............................. 8 7. Employment by enterprise size class ................................................... 9 8. Value added by enterprise size class.................................................... 9 9. Incidence of traders by size class, industry ........................................ 10 10. Compensation of employees over value added, by enterprise size, manufacturing 11 11. Labour productivity by enterprise size, business economy ............ 12 12. Labour productivity by enterprise size, manufacturing and services13 13. Motivations to set up a business..................................................... 14 14. Use of bank loans for business financing ....................................... 14 15. Venture capital investments as a percentage of GDP .................... 15 16. Trends in venture capital investments ............................................ 15
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 2
ENTREPRENEURSHIP AND BUSINESS STATISTICS DATABASES 2018 UPDATE
This booklet presents a compilation of frequently used graphs on entrepreneurship trends
and SME performance drawn from the OECD Statistics and Data Directorate’s databases of
Structural and Demographic Business Statistics (SDBS), Timely Indicators of
Entrepreneurship (TIE), Trade by Enterprise Characteristics (TEC), Entrepreneurship Finance
Database (EFD), and the Future of Business Survey (FOBS).
Data are updated on a regular basis as follows:
Data source Frequency of OECD update
SDBS National Statistics Offices of OECD member and partner countries; Eurostat
http://dx.doi.org/10.1787/sdbs-data-en
Annual
TIE National Statistics Offices; Companies Offices; countries Courts
http://stats.oecd.org//Index.aspx?QueryId=72208
Quarterly
TEC National Statistics Offices of OECD member and partner countries;
Eurostat
http://stats.oecd.org/Index.aspx?DataSetCode=TEC1_REV4
Annual
EFD National and Regional Venture Capital and Equity Associations Annual
FOBS Facebook-OECD-World Bank online business survey
www.futureofbusinesssurvey.org
Quarterly
The booklet uses ISO codes (ISO3) for country names as listed below.
ARG Argentina LVA Latvia
AUS Australia LTU Lithuania
AUT Austria LUX Luxembourg
BEL Belgium MEX Mexico
BRA Brazil NLD Netherlands
CAN Canada NZL New Zealand
CHL Chile NOR Norway
COL Colombia PER Peru
CZE Czech Republic PRT Portugal
DNK Denmark ROU Romania
EST Estonia RUS Russian Federation
FIN Finland SVK Slovak Republic
FRA France SVN Slovenia
HUN Hungary ESP Spain
DEU Germany ZAF South Africa
IND India SWE Sweden
IDN Indonesia CHE Switzerland
ISR Israel TUR Turkey
ITA Italy GBR United Kingdom
JPN Japan USA United States
KOR Korea VNM Viet Nam
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 3
Access data presented in the booklet via:
www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
Detailed definitions, data sources and methodological notes are available in OECD
Entrepreneurship at a Glance 2017: http://dx.doi.org/10.1787/entrepreneur_aag-2017-en
For more information, contact [email protected], [email protected],
Acknowledgements
Particular thanks for the continued cooperation for data development and compilation go to
Eurostat and to experts in National Statistical Offices from Australia, Austria, Belgium, Brazil,
Canada, Chile, Colombia, the Czech Republic, Denmark, Estonia, Finland, France, Germany,
Hungary, Iceland, Israel, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, Mexico, the
Netherlands, New Zealand, Norway, Poland, Portugal, Romania, the Russian Federation, the
Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, the United Kingdom
and the United States; to Laura McGorman from Facebook and Joshua Seth Wimpey from the
World Bank for the joint effort on the Future of Business Survey; and to Cornelius Mueller
and Ariane Mortelmans from Invest Europe, Darrell Pinto from the Canadian Venture Capital
and Private Equity Association (CVCA), Lauren Salerno from PitchBook and Maryam Haque
from the National Venture Capital Association (NVCA) of the United States who provided
substantive input and advice on equity capital statistics.
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 4
New enterprise creations
New enterprise creations (including sole-proprietors) continued to increase from their crisis
lows in nearly all OECD countries, with record highs achieved in around half. In Australia,
France and the United Kingdom creations in recent years have been running at twice the
levels of two-decades earlier.
1. New enterprise creations, selected countries
Index: Number of new creations in 2012=100
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
0
20
40
60
80
100
120
140
160
180
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
2007
2009
2011
2013
2015
2017
2007
2009
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
2007
2009
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
AUS AUT BEL CAN DEU DNK ESP
0
20
40
60
80
100
120
140
160
180
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
2003
2005
2007
2009
2011
2013
2015
2017
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
FIN FRA GBR HUN ISL ITA JPN
0
20
40
60
80
100
120
140
160
180
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
2001
2003
2005
2007
2009
2011
2013
2015
2017
2009
2011
2013
2015
2017
2005
2007
2009
2011
2013
2015
2017
2007
2009
2011
2013
2015
2011
2013
2015
2017
2011
2013
2015
2017
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
NLD NOR NZL PRT RUS SWE TUR USA
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 5
Bankruptcies
Bankruptcies have declined in nearly all OECD countries in recent years.
2. Bankruptcies, selected countries
Index: Number of bankruptcies in 2012 = 100
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
0
20
40
60
80
100
120
140
160
180
199
92
001
200
32
005
200
72
009
201
12
013
201
52
017
200
92
011
201
32
015
201
72
003
200
52
007
200
92
011
201
32
015
201
72
005
200
72
009
201
12
013
201
52
017
200
12
003
200
52
007
200
92
011
201
32
015
201
72
005
200
72
009
201
12
013
201
52
017
BEL BRA DEU ESP FIN ISL
All legal forms
0
20
40
60
80
100
120
140
160
180
200
1
200
3
200
5
200
7
200
9
201
1
201
3
201
5
199
9
200
1
200
3
200
5
200
7
200
9
201
1
201
3
201
5
201
7
199
9
200
1
200
3
200
5
200
7
200
9
201
1
201
3
201
5
201
7
200
7
200
9
201
1
201
3
201
5
200
1
200
3
200
5
200
7
200
9
201
1
201
3
201
5
201
7
ITA NLD NOR SWE ZAF
0
20
40
60
80
100
120
140
160
180
199
92
001
200
32
005
200
72
009
201
12
013
201
52
017
200
72
009
201
12
013
201
52
017
199
92
001
200
32
005
200
72
009
201
12
013
201
52
017
199
92
001
200
32
005
200
72
009
201
12
013
201
52
017
200
52
007
200
92
011
201
32
015
201
72
007
200
92
011
201
32
015
201
72
007
200
92
011
201
32
015
201
7
200
72
009
201
12
013
201
5
AUS CAN DNK FRA GBR JPN NZL USA
Corporations
208
194190
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 6
Job creation by new enterprises
The service sector continues to be the largest source of employment created by enterprise
births. Across countries, the highest job creation rates were seen in leisure based activities
(art, entertainment and recreation); professional, scientific and technical activities; and real
estate and food and accommodation. The ICT also outperformed the average in many/most
countries.
3. Share of sectors in employment creation by employer enterprise births
Percentage of employment (persons employed) created by births, business economy, 2016 or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
0
10
20
30
40
50
60
70
80
90
100
Industry Construction Business services
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 7
4. Job creation rate, top sectors
Share of employment created by the births of employer enterprises 2016, or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 8
Enterprises by size
The number of firms in a country is correlated with the size of the economy, but significant
differences in business populations exist among countries of comparable size. Italy for
example has a much higher number of enterprises than France.
In all countries, the majority of enterprises (between 70% and 95%) are micro-businesses,
(i.e. enterprises with fewer than ten persons employed).
5. GDP and number of enterprises
2015 or latest available year
6. Number of enterprises by size, business economy
Percentage of all enterprises, 2016, or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 9
Employment and value added by enterprise size
In most OECD economies small and medium-sized enterprises account for over half of all
employment and value added of the business sector.
7. Employment by enterprise size class
2016 or latest available year
8. Value added by enterprise size class
2016 or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 10
SMEs and International trade
Significant differences exist among SMEs of different sizes with regards to participation in
international trade. On average 15% of micro-enterprises are traders, while the share is 60%
for small enterprises and 80% for medium-sized enterprises.
9. Incidence of traders by size class, industry
Share of trading enterprises by size class Percentage, 2016 or the latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
Medium enterprises (50-249)
Micro enterprises (0-9)
Small enterprises (10-49)
0
10
20
30
40
50
60
70
80
90
100
0
10
20
30
40
50
60
70
80
90
100
Importers Exporters
0
10
20
30
40
50
60
70
80
90
100
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 11
Compensation of employees by enterprise size
In most countries, compensation of employees constitutes the largest part of value added,
particularly in SMEs, which tend to be less capital-intensive than larger firms. However,
shares vary significantly across countries – in France for example compensation shares are
twice those of Japan - and have fallen in many OECD economies in both large firms and
SMEs in the last decade.
10. Compensation of employees over value added, by enterprise size, manufacturing
Percentage
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 12
Labour productivity and enterprise size
The relative size (or spread) of productivity differences between larger and smaller firms
varies considerably across countries. In the manufacturing sector, where production tends to
be more capital-intensive and larger firms can exploit increasing returns to scale, large firms
show almost consistently higher levels of productivity than smaller ones. Differences in
productivity across size classes are relatively smaller in services sectors. In many countries,
medium-sized service sector firms outperform larger firms, reflecting the heterogeneous mix
of activities in the service sector and a relatively higher concentration of SMEs in niche, high-
brand or high intellectual property content activities.
11. Labour productivity by enterprise size, business economy
Value added per person employed, thousands of USD, current PPPs, 2016, or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 13
12. Labour productivity by enterprise size, manufacturing and services
Value added per person employed, index Large enterprises=100, 2016, or latest available year
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 14
Entrepreneurial finance and motivation to set up a business
Making more money motivates men more than women to create a business, while pursuing
an interest or hobby is a stronger motivator for women. Women use bank loans as a source
of financing at significantly lower rates than men, instead relying on personal savings and
spousal funds. Although gender bias in lending policies may play a role, this in part also
reflects gender differences in the types of industries engaged in, with men typically engaged
in more capital-intensive industries.
13. Motivations to set up a business
Percentage of respondents pointing to the option, by gender of ownership or management; Feb-Apr - 2018
14. Use of bank loans for business financing
Percentage of respondents pointing to the financing source, by gender of ownership or management; Jan-Apr - 2018
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
0
10
20
30
40
50
60
70
To pursue an interest or hobby
Women Men
0
10
20
30
40
50
60
70
To make more money
Women Men
0
5
10
15
20
25
30
35
Women Men
OECD ENTREPRENEURSHIP AT A GLANCE - HIGHLIGHTS 2018 © OECD 2018 15
Venture capital investments
In the majority of OECD countries, venture capital constitutes a very small percentage of
GDP, often less than 0.05%, although shares are growing. The two major exceptions are
Israel and the United States, where the venture capital industry is more mature,
representing more than 0.35% of GDP.
15. Venture capital investments as a percentage of GDP
Percentage, 2017, or latest available year
16. Trends in venture capital investments
Index 2010=100
Access data via: www.oecd.org/sdd/business-stats/EAG_2018_Highlights.xlsx
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
Seed/start-up/early stage Later stage v enture Total
0
0.002
0.004
0.006
0.008
0.01
0.012
0
50
100
150
200
250
2017 or latest available year 2010
1,080 415 268