The International Trade Council believes that entrepreneurship should be a main driver for economic growth.
To facilitate entrepreneurship there is a need to share information about best practices in education, information communications and technology, intellectual property rights and potential barriers to trade.
This can be done by creating partnerships between legislators, private business, non-profit organisations and educational institutes.
Highlights of Key Beliefs:
- Higher levels of education are associated with increased entrepreneurial activity.
- SMEs contribute around two thirds of national income and provide the foundation for a stable middle class and therefore must be supported through mentoring relationships.
- Meaningful economic development needs to come from grass roots activities i.e. connecting entrepreneurs, SMEs, business owners, legislators, and other organisations together to network and share knowledge.
- Different types of entrepreneurs require different resources and cannot all be served by a one-stop shop. Policymakers should consider gaps in the local ecosystem and ways in which different programmes can be connected to each other.
- Many entrepreneurs often operate solely at the local level, and regions are strengthened when entrepreneurs connect with one another. Programmes need to be created to help entrepreneurs form networks, build mentoring relationships and engage in peer learning.
- To sustain local economies there is a need for open communication and collaboration; both internally and externally.
- Legislators need access to effective tools that will help them promote entrepreneurship and business sustainability – particularly in developing countries.
Additionally, the Council believes that there is a need for mediation services to help resolve commercial disputes in a cost effective, efficient manner; and in a way that helps preserve good working relationships.