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1993 1
in 7 workers self employed
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1993
over 1 million new enterprises started
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Most
new jobs created by small and medium sized firms (SMEs)
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Since
WWII 50% of all innovations and 95% of all radical
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innovations from SMEs
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21%
of founders > 40, majority in 30’s, 25% begin < age 25
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23%
fail , 2 years, 51.7% < 4 years, 62% < 6 years
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47%
fail due to economic factors, 38% for financial troubles
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90%
start in same sector they have been working in
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Generally
8-10 years of prior experience and well educated
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Wide
experience in products/markets and across functional areas
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50%+
had mother and/or father in own business
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