European Parliament Library

OECD SME and Entrepreneurship Outlook 2023, OECD

Creator
Author
Summary
Over the past few years, the global economy has suffered profound shocks that have had a marked impact on small and medium-sized enterprises (SMEs) and entrepreneurs. While government support protected SMEs from the economic impact of the COVID-19 pandemic, new threats have emerged. Rising geopolitical tensions and global financial risks, high inflation, tightening monetary and fiscal policies, labour shortages, high trade barriers and slowing integration into global value chains all contribute to a more challenging business environment for SMEs. Meanwhile, there is an urgent need to accelerate the contribution of SMEs and entrepreneurship to the green and digital transitions and help them navigate a changing international trade and investment landscape. Against this background, the OECD SME and Entrepreneurship Outlook 2023 provides new evidence on recent trends in SME performance, changing business conditions, and policy implications. It reflects on the broad underlying theme of SME integration into a series of networks, including global production and supply-chain networks and the role of women led-businesses in international trade, knowledge and innovation networks, and skill ecosystems, as well as the main policies in place to ensure SMEs can integrate these networks and benefit from the ongoing transformations they go through. The report also contains statistical country profiles that benchmark the 38 OECD across a set of indicators
Table Of Contents
Intro -- Preface -- Foreword -- Table of contents -- Acronyms and abbreviations -- Country groupings -- Executive summary -- 1 Recent SME developments and forthcoming challenges -- Recent SME performance has been uneven across firms, sectors and countries -- Firm dynamics have displayed marked heterogeneity across countries and sectors -- Firm entry growth slowed markedly and exits accelerated in the aftermath of the war in Ukraine -- Bankruptcies accelerated in 2022 -- Micro firms have outperformed SMEs in the past two years -- Number of firms -- Start-ups -- Sales -- Value-added and employment -- Productivity and wages -- SMEs face mounting short-term challenges -- SMEs direct exposure to Ukraine and Russia is limited -- Elevated uncertainties and geopolitical tensions -- Inflation and rising costs -- Heightening labour and skill shortages -- Supply-chain pressures -- Tightened credit conditions -- Change in the nature of direct fiscal support to SMEs -- The pace of digitalisation is rapid but still brings challenges to SMEs -- The transition to a decarbonised economy requires rethinking industrial systems and business models -- References -- Part I Thematic chapters -- 2 The role of networks for SME innovation, resilience and sustainability -- SMEs need to transform and their networks can enable them to leapfrog -- SMEs are part of a complex network of networks -- Networks are critical for SME transitions towards higher productivity, resilience and sustainability -- Networks can enable SMEs to leapfrog -- SMEs can achieve greater resilience through their networks -- Greater sustainability for networking and networks for greater sustainability -- SMEs' ability to integrate networks and take advantage of them remains limited -- There is a large range of policy measures to support SME network expansion -- References -- Annex 2.A. Definitions
Language
eng
Literary Form
non fiction
Edition
1st ed.
Physical Description
1 online resource (484 pages).
Specific Material Designation
remote
Form Of Item
online
Isbn
9789264895768

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