Center for International Private Enterprise’s Post

Global growth needs a boost through higher productivity, and entrepreneurship is key. The private sector drives creativity and innovation, and policymakers must focus on improving the business environment: from cutting red tape and increasing competition, to rewarding innovation, strengthening education systems and deepening capital markets so that promising start-ups can reach commercial viability while the industries of yesterday adapt to new realities. At the IMF we are setting up a new Advisory Council on Entrepreneurship and Growth to develop ideas to ease barriers, fuel innovation, and drive productivity. My piece in The Washington Post describes why better productivity growth will mean better prospects for people and ultimately a more stable, peaceful world. https://lnkd.in/eAACK-Pc

“If there is one economic challenge that cuts across most of the globe, it is growth. Or the shortage of it”. Read the latest piece by Managing Director Kristalina Georgieva 👇🏼

This insightful statement by Edmund Phelps highlights the dynamic relationship between innovation, economic openness, and the distribution of benefits Let’s explore why this concept holds true: Innovation and Economic Growth:When an economy embraces new ideas and ventures, it fosters innovation. Innovations drive economic growth by creating new products, services, and markets. Novel ventures often disrupt existing industries, leading to productivity gains and increased overall wealth. As new concepts and ventures emerge, some individuals and organisations are better positioned to capitalise on them. Entrepreneurs, investors, and early adopters benefit disproportionately from these innovations. Their gains may outpace those of others. Venturing into uncharted territory involves risk. Those who take risks and succeed are rewarded. However, not everyone can participate equally. Some lack resources, knowledge, or access to opportunities. New ventures replace old ones, leading to winners and losers. In summary, while an economy open to new concepts and ventures drives progress, addressing inequality remains a critical challenge. #riskreward #innovation #economicgrowth #newventures

🚀 **Small Businesses Fueling the Post-COVID Economic Expansion** The entrepreneurial engine of the U.S. economy is running stronger than ever. A recent report from the U.S. Department of the Treasury reveals that small businesses and start-ups are leading the way in job creation and economic revitalization, with profound implications for entrepreneurs and business leaders alike. Let’s unpack the key takeaways—and why they matter: 👔 **Job Creation at Record Levels** Small businesses have generated 70% of net new jobs since 2019—a significant jump from the previous cycle. Start-ups, in particular, have shouldered 26% of all new jobs, underscoring their role as a critical driver of employment. With labor markets tight, this dynamic highlights the resilience and adaptability of entrepreneurs in creating opportunities. 📈 **Entrepreneurship Is Surging** The U.S. is now averaging 430,000 new business applications per month—a 50% increase from 2019. This growth reflects not just recovery but a cultural and economic shift: remote work, risk tolerance, and broader access to resources are empowering more individuals to forge their paths. 🌱 **Optimism and Resources** With small business optimism at post-pandemic highs and an array of federal initiatives like the SSBCI and ECIP providing billions in funding, the policy landscape is becoming increasingly favorable for startups to thrive. The focus on underserved communities and female entrepreneurs—who now account for 43% of self-employed Americans—offers a promising lens on inclusion. 🔮 **What’s Next?** The report underscores that this is not just a rebound—it’s a reimagination of entrepreneurial activity. For business leaders, this opens the door to partnerships, innovation, and exploring new markets. 💬 **Your Take?** What opportunities do you see in today’s entrepreneurial surge? How are you positioning your business to adapt to this evolving landscape? Share your thoughts below or connect to keep the conversation going! #Entrepreneurship #SmallBusinessGrowth #Innovation #Leadership

The ideal mix of large corporations and Small and Medium-sized Companies (SME's) is crucial for a successful economy. SME's play a vital role in promoting a healthy balance of entrepreneurial activity, fostering economic growth, and driving technological innovation. Governments worldwide recognize the significance of supporting SME's for the overall well-being of local economies. Key benefits of healthy and vibrant SME's include: - **Local Job Growth**: SME's are fundamental in fueling local economic growth and job creation, particularly in low-income countries. These businesses, especially those focused on emerging technologies, are essential for creating a robust community and facilitating innovation on a global scale. - **Cultivating Entrepreneurs**: SME's play a pivotal role in nurturing the entrepreneurial spirit within societies. They provide a platform for young and less experienced individuals to kickstart their careers, inspiring them to pursue their goals and hone their skills. - **Lower Risk and Production Costs**: Although SME's may not reach the scale of larger corporations, they boast leaner production costs and innovative cost-cutting measures. Their prudent resource management contributes to a more stable local business economy, reducing operational risks. A strong economy is the cornerstone of success for nations and their people. By supporting SME's and understanding their critical contributions to economic development, we pave the way for sustainable growth and prosperity. Let's continue to empower SME's and entrepreneurs for a more resilient and innovative business landscape. #SMEs #EconomicDevelopment #Entrepreneurship #LocalEconomy #Innovation

Couldn't agree with this more Allen Lau. Increasing the capital gains tax is putting all parties at a disadvantage: - Investors looking to invest in Canadian companies will think twice, knowing their capital gains will be taxed at a higher rate. - Entrepreneurs starting or growing their company will look elsewhere for more favourable tax environment and investment opportunities. - Employees whose compensation consists of equity will consider relocation and working for US-based companies. With a government that is not spending responsibly, as we've seen in multiple ways in recent years, this tax increase will not benefit society. It will also further exacerbate Canada's productivity decline.

Here is the summary of my opinion piece for the Globe and Mail: We will lose our sovereignty in the innovation economy. Period. — As the world shifts to intangible assets, the consequences of the capital gains tax increase go far beyond brain drain and job loss. We will lose out on the GREATEST prize of the innovation economy: ownership of industry-disrupting companies and technologies. This would have a devastating and long-term impact on our economy and reputation on the world stage. At a time when we need more capital to own a meaningful piece of the IP-based economy, our country is going backward. As the economy increasingly shifts toward intangible assets, we will be left behind with digital bread crumbs, selling our next generation short.
 Hit the link below to read the rest of the piece.

I cannot tell you how many times I’ve come across US investors asking our entrepreneurs to build their companies in the US. And every time, I have to do so much work to convince the entrepreneurs to stay: big fish small pond effect, small but mighty community etc. But the lure to build a company outside of Canada is becoming more and more tempting and Canada will lose out big time for generations to come. Read this opinion piece by Allen and you will know what I mean. #startup #scaleup #innovation #canada

#Entrepreneurs today's pioneers Entrepreneurs play a pivotal role in transitioning from the foundational struggle for political liberation to the pursuit of economic prosperity, echoing the courage and determination of past heroes. The quest for effective leadership mirrors the challenges in education. Just as we cannot afford to pause education while reshaping curricula and preparing educators, governance cannot halt its essential functions. It must provide critical services and foster societal progress. It was foreseen by others like Cabral that in education and government we will have to function with what have till the required ideological consciousness is born not tainted by the past. Both spheres require generational change & continuous improvement through adaptation and innovation. Patience and steadfast commitment to long-term goals are essential as we navigate these complexities. Concurrently, as we improve governance and education, we must begin phase two of our journey, led by entrepreneurs. The outcome will be a country with thriving economic conditions and empowered citizens, ready to tackle the challenges of tomorrow. Our journey unfolds in distinct phases. The initial phase focuses on achieving political freedom, transitioning from liberation movements to governance through democratic processes. Success in this phase hinges on establishing and refining administrative systems that support societal development. This foundational work demands iterative testing, adaptive responses, and resilient rebuilding. The subsequent phase shifts towards economic prosperity, where entrepreneurs emerge as catalysts for growth and innovation. They embody the spirit of past freedom fighters, driven by a vision to eradicate poverty and reduce inequality. Achieving economic liberation necessitates collaborative efforts across all societal sectors, emphasizing shared responsibility and collective action. Consider a 30-year-old person—where are they in their lives? Are they economically, socially, mentally, emotionally, and physically balanced? This analogy serves as a poignant metaphor for our nation's evolution. Just as personal growth requires learning from mistakes and embracing change, our collective journey towards prosperity demands patience and resilience. This perspective fosters optimism and underscores the gradual nature of progress. Collective consciousness and individual resolve are critical. By fostering mutual understanding and supporting each other, we strengthen unity and purpose. Recognizing shared challenges and leveraging collective resources are essential for addressing current economic imperatives. Today's struggle for economic emancipation mirrors past political challenges. Entrepreneurs, as modern-day pioneers, rise above adversities, propelled by a commitment to forging a brighter future. Their path is marked by initial challenges and uncertainties, yet their determination to build a prosperous society remains unwavering.

The Evolving Economy: Challenges and Opportunities for the Common Man In recent years, the global economy has been undergoing rapid changes. Technological advancements, shifting market dynamics, and unforeseen global events like pandemics and geopolitical tensions have reshaped the way we live and work. These transformations bring both challenges and opportunities for the common man. 🔹 Challenges: Rising living costs and inflation are putting pressure on household budgets. Job markets are evolving, with traditional roles being automated or replaced by technology. Uncertainty in global trade and supply chains affects everyday essentials. 🔹 Opportunities Through Entrepreneurship: Entrepreneurship has emerged as a beacon of hope in navigating these uncertain times. Starting your own venture not only empowers you financially but also enables you to: 1️⃣ Adapt to Change: Entrepreneurs thrive on innovation, creating solutions that align with current market needs. 2️⃣ Control Your Destiny: Building a business gives you autonomy over your career path. 3️⃣ Contribute to Society: Small businesses often drive local economies, creating jobs and fostering community growth. 4️⃣ Build Resilience: Entrepreneurs learn to pivot and adapt, ensuring they stay relevant even in challenging times. And in this journey, you are not alone. At Akaar Global, we are not just here to consult you but also to help you, to stand by you, and to shape your dreams into reality. The future may be uncertain, but with the entrepreneurial mindset and the right support, we can shape it rather than merely survive it. Let’s embrace the challenge together and build a sustainable tomorrow! 💼🌱 #Entrepreneurship #EconomicChange #Sustainability #Innovation #AkaarGlobal #DreamsToReality #Business #Dream #Reality #Leadership #Growth #Economy