Australia

COVID-19 is likely to leave long-lasting effects on local labour markets. It is accelerating a pre-existing trend towards automation, as firms look even more to new technologies to pandemic proof their operations. While automation offers the opportunity to boost productivity, it can also lead to job polarisation as vulnerable workers who lose their jobs may not have the skills needed in a changing labour market. This OECD report examines the potential impacts of automation on people and places across Australia. It also sheds light on policies and programmes that can help regions and cities to prepare for the future of work.

The COVID-19 crisis has had a profound impact on SME access to finance. In particular, the sudden drop in revenues created acute liquidity shortages, threatening the survival of many viable businesses. The report documents an increase in demand for bank lending in the first half of 2020, and a steady supply of credit thanks to government interventions. On the other hand, other sources of finance declined, in particular early-stage equity. This paper, a special edition of Financing SMEs and Entrepreneurs, focuses on the impacts of COVID-19 on SME access to finance, along with government policy responses. It reveals that the pre-crisis financing environment was broadly favourable for SMEs and entrepreneurs, who benefited from low interest rates, loose credit standards and an increasingly diverse offer of financing instruments. It documents the unprecedented scope and scale of the policy responses undertaken by governments world-wide, and details their key characteristics, and outlines the principal issues and policy challenges for the next phases of the pandemic, such as the over-indebtedness of SMEs and the need to continue to foster a diverse range of financing instruments for SMEs.

It is increasingly understood that entrepreneurship plays a critical role in economic growth and well-being. But which policies can governments develop to release its benefits? This publication offers guidance and inspiration. It identifies the range of entrepreneurship policies being pursued internationally, the problems the policies seek to solve and how they are designed and implemented. The focus is on how to create a broad base of start-ups with the potential for sustainability and growth by building a pipeline of new entrepreneurs, supporting start-ups to overcome barriers in areas such as skills, finance and innovation and stimulating vibrant entrepreneurial ecosystems. The publication examines the rationale for entrepreneurship policy, presents a typology of policy approaches and highlights principles for policy success. The points are illustrated by 16 case studies of inspiring practice policies from 12 OECD countries. These cases span policies for regulations and taxation, entrepreneurship education and training, advice and coaching, access to finance, internationalisation, innovation, and holistic packages for ecosystem building. Helpful summary tables guide readers to the information that will respond to their questions. The publication will give readers an overview of key entrepreneurship policy interventions and tips on entrepreneurship policy success.

This OECD publication provides statistics on international trade in services by partner country for 28 OECD countries plus the European Union (EU27), the Euro area, and Hong Kong, China as well as definitions and methodological notes. The data concern trade between residents and non-residents of countries and are reported within the framework of the Manual on Statistics of International Trade in Services. This book includes summary tables of trade patterns listing the main trading partners for each country and by broad service category. Series are shown in US dollars and cover the period 2004-2008.