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The Least Developed Countries Report 2018

Entrepreneurship for Structural Transformation - Beyond Business as Usual

image of The Least Developed Countries Report 2018

For Least Developed Countries (LDCs) to progress towards the Sustainable Development Goals, they need to transform the structure of their economy. This, in turn, requires entrepreneurship that innovates. The entrepreneurial landscape in LDCs is dominated by micro and small enterprises with low chances of survival and growth, and scant innovation. While LDCs are part of global value chains, these provide only limited opportunities of entrepreneurship development and upgrading. Most LDCs policies and programmes for entrepreneurship aim at job creation, poverty reduction and women and youth empowerment. For entrepreneurship to be a driving force towards structural transformation, policies need to target and support high-potential firms.

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Sustainable development, structural transformation and entrepreneurship

The focus on entrepreneurship of the present edition of The Least Developed Countries Report is grounded in the series’ vision of sustainable development through development of productive capacities and structural transformation of the economy. Innovation as an entrepreneurial activity is an essential element of structural transformation that implies shifting production factors from traditional economic activities towards those with higher value added and higher productivity. Entrepreneurship is thus indispensable for sustainable development. This is true of developed countries and other developing countries, but even more so of LDCs, where much more radical economic transformation is required.

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