What's the issue?

What will the SME and Entrepreneurship Strategy deliver?

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This figure shows the topics the 15 principles will address. 

Principles related to policy coordination and governance:

Principles related to transitions and resilience:

Principles related to access to resources:

1. Whole-of-government and multi-level governance

Co-ordinate and align SME and entrepreneurship policy across government entities and levels through effective governance mechanisms and place based-approaches, in line with each country’s institutional setting, circumstances and needs.

2. Cross-cutting approach

Ensure that implications for SMEs and entrepreneurs are considered across the diverse policy areas that influence their prospects and outcomes in order to enhance policy synergies, address potential trade-offs and reduce administrative burdens, including through increased attention to their specificities and circumstances in policy and regulatory design, SME tests and evaluations, consultation mechanisms, streamlined processes and user-centric approaches in implementation

3. Diversity of SMEs and entrepreneurs

Take account of the diversity of SMEs and entrepreneurs throughout policy making, by assessing implications for different types of SMEs and entrepreneurs, adopting policy relevant typologies and collecting granular data on SME and entrepreneur key features, performance and behaviour.

4. Monitoring and evaluation

Put in place robust monitoring and evaluation mechanisms that systematically assess policies for their SME and entrepreneurship impacts, using relevant data and methodologies and feeding results in new policy initiatives.

5. Digital transformation

Support the adoption of digital technologies, services and data by all SMEs and entrepreneurs in line with their needs, digital maturity and aspirations by enhancing access to digital infrastructure; strengthening digital skills, data literacy and management of digital security risk; and ensuring open and well-functioning markets for digital goods and services.

6. Green transition

Encourage and enable SMEs and entrepreneurs to transition to sustainable business models, practices and technologies, and to drive green innovations, taking into account their specificities and needs in environmental policies; fostering their access to resources, including sustainable finance; and supporting their adoption of circular economy strategies.

7. Internationalisation and participation in global value chains

Enhance SMEs and entrepreneurs participation in international trade and global value chains through open markets; conducive regulatory frameworks; trade facilitation and trade finance; and by strengthening their access to services and networks, including with foreign partners and multinationals.

8. Business dynamics, start-ups and innovative entrepreneurship

Enable entrepreneurship by reducing barriers to entry, exit, business transfer and business succession, and by easing possibilities to re-start for entrepreneurs who fail; and ensure that policies and the regulatory environment support competition and provide incentives and support for innovative entrepreneurs to scale up.

9. Fostering inclusive entrepreneurship

Encourage and support under-represented or disadvantaged groups to participate in entrepreneurship, by taking into account structural barriers, specific challenges and needs through appropriate targeted measures, where necessary; equal access to wider entrepreneurship support programmes, and by raising awareness about and deconstructing stereotypes hampering equal access to entrepreneurship.

10. Transitions related to informal enterprises and self-employment

Facilitate the transition from informal to formal entrepreneurship, easing access to resources where needed; and ensure a level playing field for the self-employed and far all kinds of entrepreneurship, including in the platform economy.

11. Enhancing responsible business conduct and social impact

Promote responsible business conduct and the engagement of SMEs and entrepreneurs in avoiding and addressing adverse environmental and social impacts and improving social outcomes associated with their activities and business relations along value chains and within their local communities.

12. Innovation

Provide adequate incentives for SMEs and entrepreneurs to innovate and foster their capacity to benefit from innovation diffusion, through conducive market conditions; robust and inclusive innovation ecosystems, local networks and infrastructure; and appropriate targeted measures, where necessary.

13. Finance

Enhance SMEs and entrepreneurs’ access to a diverse range of financing instruments, sources and channels that are adapted to their needs in terms of development, growth and sustainability, by implementing evidence-based policies and regulatory approaches conducive to transparent and resilient SME finance markets; leveraging the role of new technologies; encouraging timely payments; and strengthening SME financial skills and vision.

14. Skills and entrepreneurial mindset

Encourage the development of an entrepreneurial mindset throughout society, and create adequate incentives for SMEs and entrepreneurs to invest in skills; in particular promote the development of and access to skills that are transversal across jobs and contexts, such as management, problem-solving and digital skills.

15. Ecosystems, networks and public procurement

Strengthen entrepreneurial ecosystems at national, regional and local level, including by developing networks and linkages along supply chains, between SMEs and with large firms, within and across sectors; and by enhancing SME access to and participation in public procurement.