Promoting entrepreneurship is one of the most direct ways to create job, increase incomes, facilitate adjustment to economic change and underpin economic competitiveness at local level. Subnational economies that grow rapidly usually have high rates of enterprise start-up. While not all areas with high start-up rates grow quickly, growth is difficult without a significant level of enterprise creation.

Subnational authorities employ a range of policy instruments to encourage enterprise creation and development, such as business networks and incubators, micro-credit schemes, business advisory services, cluster development programmes, etc. The promotion of entrepreneurship, however, does not constitute a developmental panacea and should form but one component in an array of developmental policies.

Within the Centre for Entrepreneurship, the work of the LEED Programme on entrepreneurship will have a local and regional scope. The work undertaken so far has aimed (1) to consider the strategic merits and demerits of area-based development strategies oriented around entrepreneurship promotion, and (2) to assess best practice and disseminate information on the policies and programmes implemented at local level aimed at encouraging entrepreneurship as a means of job creation and local development.

A wide array of relevant issues is covered by LEED activities on entrepreneurship at local level. Work has been carried out on promotion of entrepreneurship in target groups, including women entrepreneurship, ethnic minority entrepreneurship and youth entrepreneurship, and will be continued. Other projects concern self-employment, the informal economy, and the retention of youth talents in disadvantage regions and emerging economies. New activities such as financing instruments for entrepreneurship and training for new small firm managers are under preparation.

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