Entrepreneurship

An interesting UK report on Entrepreneurs and specifically “SuperEntrepreneurs“. Well worth reading the full report.

Their summary:

• SuperEntrepreneurs founded half the largest new firms created since the end of the Second World War
• There is a strong correlation between high rates of SuperEntrepreneurship in a country and low tax rates
• Equally, a low regulatory burden and high rates of philanthropy both correlate strongly with high rates of SuperEntrepreneurship
• Active government and supranational programmes to encourage entrepreneurship – such as the EU’s Lisbon Strategy – have largely failed.
• Yet governments can encourage entrepreneurialism by lowering taxes (particularly capital gains taxes which have a particularly high impact on
  entrepreneurialism while raising relatively insignificant revenues); by reducing regulations; and by vigorously enforcing property rights.
• High rates of self-employment and innovative entrepreneurship are both important for the economy. Yet policy makers should recognise that they are not synonymous and should not assume policies which encourage self-employment necessarily promote entrepreneurship.
• Policy makers should use a definition of entrepreneurship which is based on innovation.

I’m not sure NZ has any SuperEntrepreneurs yet (have earned over one billion dollars) but Rod Drury can’t be far off. Sam Morgan also.