Just 1% of start-up companies create 40% of new jobs – a far smaller number of companies than had been thought – a World Economic Forum (WEF) study has found.
The WEF said governments looking for growth through entrepreneurship should examine what made these successful.
It said that they should do this rather than “replicate Silicon Valley”.
Last month Prime Minister David Cameron told would-be entrepreneurs “now is the time” to launch their business.
Mr Cameron has launched a scheme, called “Start Up Britain”, which provides support worth about £1,500 for areas such as IT training and internet advertising to help people set up businesses.
The coalition government is looking to the private sector to provide the engine for growth to balance out the jobs being cut in the public sector.
Other governments, too, see start-up businesses as key to economic expansion. – BBC News
