The Little Engine That Could Save the Global Economy: Global Small Businesses

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According to the World Bank, SMEs globally represent about 90 percent of all businesses.

They also account for some 70 percent of global employment and 50 percent of global GDP, the International Labour Organization found. 

That means an increase in small-business failure rates would be crushing for many millions of people.

Learn more about the little engine that could save the global economy:  global small businesses.

Global Market Access

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Very interesting opinion piece in the WSJ:

First, America must remove trade barriers on exports from the poorest countries, regardless of trade policies in those countries. With global market access, poor countries would automatically attract private investment, despite their institutional weaknesses. These institutions would become stronger over time as businesses flourish. Private investments capitalizing on access to global markets would necessarily employ low-cost labor, thus creating jobs.

Next, small entrepreneurs can be bolstered with seed money in the range of $25,000. Small entrepreneurs create jobs, products and services that form the bedrock of flourishing democracies. With some tangible changes in its operation, the International Finance Corporation (IFC) within the World Bank Group could promote development through entrepreneurs. The World Bank should stop lending to governments and be absorbed into the reformed IFC.

Read more here.