The growth and prosperity of all economies, rapid-growth and mature, remain highlydependent on entrepreneurial activity.
Entrepreneurs are the lifeblood of economic growth — they provide a source of income and employment for themselves, create employment for others, produce new and innovative products or services, and drive greater upstream and downstream value chain activities. While some entrepreneurial activity around the world is still driven by necessity, high-impact entrepreneurship, once largely confined to mature markets, is now an essential driver of economic expansion in rapid-growth markets. In some cases, these high-impact entrepreneurs are building innovative and scalable enterprises that capitalize on local needs and serve as role models for new entrepreneurs.
The face of entrepreneurship is also changing — across the world, entrepreneurs are increasingly young and/or female. Many of these new enterprises are digital from birth. Access to funding remains the primary obstacle for entrepreneurs from all markets. The public and private sector each have an important role to play in creating entrepreneurial ecosystems that, in addition to funding, are essential to promoting entrepreneurial success.