Plenty of successful Australian business leaders do their bit to help support fledgling entrepreneurs, but the level of public/private collaboration is at another level in the US.
On a financial level , the figures are huge – IBM has pledged $150 million to develop start-ups, for instance – but the difference is perhaps illustrated in the smaller details.
For instance, Facebook CEO Mark Zuckerberg will appear at a series of events around the country as part of his Startup Days program. The Startup America program is being chaired by AOL co-founder Steve Case. Why isn’t the Australian Government getting the big hitters on board for its programs?
COSBOA executive director Peter Strong recently bemoaned the lack of joined-up Government thinking when it comes to small business, telling StartupSmart: “The Government’s innovation programs are very good, but they are aimed at particular sectors. They have to be part of a broader strategy.”
“Retail is a good example. We have a review of the sector at the moment, but it’s reactive to the scrutiny it has been under recently. It’s not part of a larger strategy.”
On the issue of regulatory reviews, media chatter over the retail industry may have pushed the Government to look at the sector, but elsewhere such analysis has a more comprehensive feel about it. Both the US and UK have recently launched wide-ranging reviews of the red tape faced by small businesses.
The best country in the world to start a business in 2010? Denmark, according to the US Govenrment’s Small Business Administration.
Part of this is down to the large number of Danes who embrace ‘intrapreneurship’ – starting up within an existing business or spinning an idea out of their employer. Only Hong Kong has a higher rate of such start-ups in the world.
Various factors drive this, such as the Danish Govenrment’s tax system, which allows people to start-up while still employed without taking on any extra tax burden.
Complaining about Australia’s supposed ‘tall poppy syndrome’ may seem like a convenient excuse for every business, celebrity or sportsperson who has fallen foul of a media backlash.
However, countless Australian entrepreneurs who have travelled overseas admit that failure is treated differently elsewhere. The US’ entrepreneurial culture encourages people to bounce back strongly from failure and not be afraid of making mistakes.
Whether Australia is lagging behind in this area is hard to pin down, but more frequent Government celebration of the concept of entrepreneurship wouldn’t hurt.
