As part of Global Entrepreneurship Week (Nov. 16-22), the Kauffman Foundation and the Organization for Economic Cooperation and Development (OECD) today released a report revealing the first indications of how the current recession has impacted entrepreneurship in 23 countries and regions including the U.S.
A snapshot of the report’s findings:
• In all 23 countries and regions surveyed, firm formation declined and exits increased – which could have significant implications for job creation
• The U.S. and the U.K. (and to a lesser extent Spain) observed a decrease in firm entries already in 2007, when most other countries were still reporting a steady rise.
• Eastern European countries and Brazil—countries undergoing a high degree of restructuring—are experiencing higher rates of firm births, deaths and even growth.
• The services industry has a higher degree of entrepreneurial dynamism than manufacturing.
Below is today’s release for more information. To access the report, please visit www.oecd.org/statistics/measuringentrepreneurship.