In Washington, D.C.
Tel: +1 (202) 458-8517
Washington D.C, Nov. 13, 2008 - New data about total and newly registered businesses in more than 100 industrial and developing countries suggests that a strong business environment can encourage entrepreneurial activity. For example, new firm creation is higher in countries with greater ease in starting a business (Doing Business 2009) and modernized business registries.
The data was presented today at the launch of the 2008 World Bank Group Entrepreneurship Survey (WBGES) database and includes results for 100 countries over an eight-year period (2000- 2007). The database was created as a joint effort between IFC, the World Bank Development Research Group, and the Ewing Marion Kauffman Foundation.
"As the financial crisis spreads across the globe and millions are feeling the impact of slower economic growth and job losses, it is important to understand regulatory and policy constraints on entrepreneurs wanting to start a formal business. Entrepreneurial activity can help economic growth, and the first step for entrepreneurs joining or transitioning to the formal sector is the registration of their business at the registrar of companies. Therefore, a quick, efficient and cost-effective business registration process is critical to fostering entrepreneurship," said Leora Klapper, senior economist in the World Bank development research group.
In its third year, the WBGES survey incorporates improvements in methodology and expanded participation from countries covered, allowing for greater cross-border compatibility of data. This round also includes new information on business registration procedures, such as filing requirements, and electronic registration and data storage.
The database has been launched as part of activities around Global Entrepreneurship Week, which was founded by the Kauffman Foundation and the Make Your Mark campaign.
"The Kauffman Foundation has a keen interest in fostering innovation and entrepreneurship among young people across the world," said Robert E. Litan, vice president, Research & Policy at the Kauffman Foundation. "This study helps enable a better understanding of what drives individuals in emerging markets to achieve their entrepreneurial potential."
Visit the database at:
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit www.ifc.org.
About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. It also works to prepare students to be innovators, entrepreneurs and skilled workers in the 21st century economy through initiatives designed to improve learning in math, engineering, science and technology. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. More information is available at www.kauffman.org.
About Global Entrepreneurship Week
Global Entrepreneurship Week, founded by the Ewing Marion Kauffman Foundation and the Make Your Mark campaign, was created to encourage entrepreneurship by inspiring young people to embrace innovation, imagination and creativity. This year’s event will run from November 17 – 23 and is expected to involve millions of young people in 60 nations. Students, educators, entrepreneurs, business leaders, employees, non-profit leaders, government officials and many others will participate in a range of activities - online and face-to-face - to harness the energy of social networking, to connect people taking action in their local and global communities and to celebrate entrepreneurship across the globe.
For more information on the Entrepreneurship Week: www.unleashingideas.org