Support for entrepreneurs critical for post-Covid recovery – GEM
16 September 2020
• Global Entrepreneurship Monitor report calls on policymakers to create right conditions for an enterprise-led economic recovery worldwide.
Policymakers around the world must provide clear advice and practical support for entrepreneurs to ensure global economies recover from the devastation of coronavirus, a new report says.
Presenting a snapshot of support measures introduced by 54 countries around the world since the Covid-19 outbreak, the Global Entrepreneurship Monitor (GEM) – whose UK team is led by Professor Mark Hart of Aston University – says entrepreneurs starting and growing their businesses will be key to a return to global growth.
It has called on governments and enterprise agencies to prioritise clear communication and reduce red tape to help entrepreneurs take advantage of changes in technology and consumer behaviour since the start of the pandemic.
The report assesses each participating country’s performance against a set of nine metrics known as the GEM Entrepreneurial Framework Conditions. The chapter on the UK’s response highlights the gaps in support for many early-stage entrepreneurs and fears that measures implemented early on to help entrepreneurs and firms are being withdrawn too soon.