Entrepreneurship

Building entrepreneurial economies requires a number of steps, all well known: building market institutions; removing barriers to starting, operating, and growing a business; reforming educational systems; and creating a broader awareness and understanding of what entrepreneurship means as well as appreciation for its contribution to the development of democratic societies. As simple as the recipe for entrepreneurship-driven development may be, the implementation of necessary reforms is a much more complex matter. Only when the right institutional climate is in place can small business success stories become more commonplace. Entrepreneurial economies sustain growth through the rule of law and a functioning democracy. Institutional change takes time, effort, determination, and, above all, dedicated reformers.

The Center for International Private Enterprise's (CIPE) experience around the world shows that entrepreneurs themselves can become a driving force for reform, when they work together and make their voices heard through business associations and chambers of commerce. They can formulate concrete reform recommendations and engage in a constructive dialogue with the government. In doing so, small businesses can become an integral part of the complex institutional transformation necessary for democratic and entrepreneurial economies to flourish.