Start-ups are the key to growing economies, as described by a recent BBC article with the headline “Top 1% of entrepreneurs create 40% of new jobs”. The article goes through summarizing some start-up tips from a recent report on entrepreneurship and successful growth strategies by the World Economic Forum.
One of the successful strategies it advocates for overcoming this is to “take lessons from the down years to build a stronger engine for future growth”.
It also says putting in place strong management systems is of high importance. The WEF says failing to systematically adopt management systems when high growth is occurring is what it calls “a self-inflicted wound”.
The WEF report looked at “70 executive case studies from 22 countries, 110 surveys from 17 different countries and the analysis of revenue and headcount data for over 380,000 companies”. Given the international breadth of companies examined, the report will be useful in understanding the entrepreneurial environments in other countries.
