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Perspectives on the Performance of the Continental Economies$
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Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

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Promoting Entrepreneurship: What Are the Real Policy Challenges for the European Union (EU)?

Promoting Entrepreneurship: What Are the Real Policy Challenges for the European Union (EU)?

Chapter:
(p.91) 4 Promoting Entrepreneurship: What Are the Real Policy Challenges for the European Union (EU)?
Source:
Perspectives on the Performance of the Continental Economies
Author(s):

Anders N. Hoffmann

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015318.003.0004

The EU is perceived to have an unexploited entrepreneurial potential by failing to encourage people to become entrepreneurs and by failing to encourage the limited number of existing entrepreneurs to grow their firms. This chapter demonstrates that this perception is inaccurate. It presents data showing that the EU countries have start-up rates that are comparable to the start-up rates in the United States. However, there is a lack of high-growth firms in the EU compared to the U.S. Variations also exist among European countries, with the UK and Ireland as the best performing countries. The results suggest that the EU should improve the entrepreneurial business environment for high-growth firms, restart possibilities, labor market regulation, access to venture capital, exit markets, and entrepreneurship education at universities.

Keywords:   EU, entrepreneurship, high-growth firms, business environment

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