Job Creation After the Crisis

1
Job Creation After the Crisis

• The role of SME and Entrepreneurship
• Peter Vikström, PhD
• Director Entrepreneurship and Enterprise
• Washington 30 october 2009

2
Introduction

• The current crisis poses challenges on
  policymakers to stabilize the labour market and
  foster job creation
• Challenges for policymakers to handle in order to
  create jobs and sustainable growth
• What is necessary apart from macro-economic
  stabilization?
• This presentation will depart from a European and
  specifically Swedish perspective
• A small open economy
• An internationalised business sector

3
Contribution of SMEs to the European Economy
Rate of change 2004-2006, EU27
Source Eurostat
4
Job Creation in SMEs in EU Countries
Number of persons employed, rate of change
2004-2006
Source Eurostat (2009)
5
Employment in SMEs 1993-2008
Index 1993100
Source Statistics Sweden (SCB)
6
Importance of High-growth Firms
Number of jobs created per size class in each
three-year period
Source SCB, Own calculations
7
Stylized Facts for High-growth Firms

• Younger than other firms
• Exist in all size classes, even if SMEs are
  overrepresented
• Exist in all branches, overrepresented in
  business services
• More capital intensive
• More knowledge intensive higher educational
  level

8
Job Creation - Challenges for Policymakers

• Stimulating innovative entrepreneurship
• Enabling growth oriented firms
• Access to finance
• Committment to open markets and reducing barriers
  to trade
• Reforming the regulatory framework
• Competetiveness on the national and regional
  level

9
The Growth Triangle
Entrepreneurship
Innovations
Competetive regions