'Critical engine for innovation, growth and employment'
A group of young entrepreneurs from around the world is calling on G20 leaders to "formally" recognize the "importance of supporting entrepreneurship as a vital solution to the current economic crisis."
The 400 entrepreneurs, including a 31-strong Canadian delegation, were at the G20 Young Entrepreneur Summit in Nice, a three-day gathering before the real event in Cannes to identify ways that governments and businesses can best harness young entrepreneurs, and best drive entrepreneurship.
Not surprisingly, the group concluded that young entrepreneurs are a "critical engine for innovation, growth and employment."
They identified 200 "best practices" for governments, associations and private-sector companies to help remove barriers to entrepreneurship and strengthen three pillars they identified as critical to boosting entrepreneurship: developing fertile "ecosystems," financing vehicles for every stage of development; and cultivating an entrepreneurial culture, according to a release.
The group also proposed that G20 leaders work with their own governments to develop an "entrepreneurs' declaration."
It would be based on five principles:
1. G20 governments recognize the socio-economic role of entrepreneurship and importance of encouraging the next generation of entrepreneurs.
2. Governments would commit to implementing policies to foster entrepreneurship and innovation.
3. Such policies would leverage both traditional and non-traditional forms of capital to support entrepreneurs.
4. Such policies would recognize and address "unprecedented" demographic and economic challenges, especially youth unemployment.
5. The policies would encourage entrepreneurship "without distorting the marketplace" or fostering unfair competition.
For some impressions from some of the Canadian participants, click here to check out an online discussion we conducted.
A daily deal for your tech startup?
With Groupon Inc. aiming to raise $700-million from its initial public offering, the opening day of trading "could carry vast consequences for everyone from venture capital investors to tech startups," writes Peter Cohan, president of a management consulting and venture capital firm.
He figures that if the IPO is well-received, it could pave the way to more IPOs, relieving the pressure on venture capital firms that has built since the dot-com crash, and extend to startups in search of funding, he writes.
Most trusted on job creation ideas: Small business
Who do Americans trust most on how best to create jobs? Small businesses, according to a Gallup survey.
When asked how much they trusted the ideas and opinions of a variety of sources on creating jobs in the United States, small-business owners topped the list, at 79 per cent.
They were followed by local business leaders, at 74 per cent. U.S. President Barack Obama got just 52 per cent and right at the bottom of the list was Federal Reserve chairman Ben Bernanke, at 40 per cent, according to the telephone poll of a random 992 adults.
World's most powerful entrepreneurs
Who are the world's most powerful entrepreneurs? Paul Graham, co-founder of startup incubator Y Combinator, makes his pick of the top seven in this photo gallery at Forbes. The list won't surprise you. But can you sing "Born in the USA?" (Well, almost all).
EVENTS AND KEY DATES
Dream day for entrepreneurs
Just a hop across the border, join other entrepreneurs for a "day of learning" at the "Entrepreneur's Dream Day" being sponsored by the Entrepreneurs Organization of Western New York. The second annual event taking place in Buffalo on Nov. 11 expects a turnout of more than 200 entrepreneurs, including Canadians, and will offer a full day of speakers and other learning and networking opportunities. For more details, click here.
Driving growth and expansion
Driving growth and expansion will be the theme of the fourth annual SME conference being hosted by FEI Canada. The mix of keynote speakers, breakout sessions, panel discussions and networking opportunities are targeted at senior finance executives, chief financial officers, chief executive officers and directors of small and medium-sized enterprises. It takes place Nov. 10 in Mississauga. For more information, click here
Four more sleeps until Small Business Summit
Don't miss out on the Small Business Summit, hosted by The Globe and Mail's Report on Small Business in conjunction with Achilles Media. For more on the lineup of speakers, workshops and networking opportunities taking place on Nov. 8 in Toronto, click here.
EDITOR'S PICKS FROM REPORT ON SMALL BUSINESS
Do gimmicks have staying power?
For a newcomer business, a gimmick can be a helpful way to stand out from the pack. But gimmicks have a bad rap. And while a gimmicky product or marketing idea can spark interest, it takes more to drive business long term.
FROM THE ROSB ARCHIVES
Approach colleagues for contributions with care
It's that time of year again, when United Way drives and other charity fund-raising efforts are underway in workplaces. In smaller businesses, with fewer employees working more intimately, there may be more of a feeling of closeness – and more of a feeling of pressure to give, as Caitlin Crawshaw wrote in this story, urging employees to approach colleagues for contributions with care, and suggesting that employers might be wise to create some policies, understandings or take-the-pressure-off moves around raising money for causes at work. For some guidelines to fundraising at work, also click here
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