ENGLISH PRACTICE - Start-ups play a key role in creating jobs, driving innovation and sustaining long-term growth, but the COVID-19 crisis is challenging their creation and survival. How can policy interventions help? A new OECD policy brief recommends longer-term policies to help accelerate the recovery and limit the fallout of a missing generation of new firms.
Paris – Start-ups have emerged as key drivers of economic growth and job creation, and are often a catalyst for radical innovation. Young firms indeed account for about 20% of employment but create almost half of new jobs on average across OECD countries, and innovation by young firms significantly contributes to aggregate productivity growth, accounting for half of it in the United States.
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