The November 2017 EU report ‘SME Performance Review’ outlines that newly founded entities ‘created by self-employed have survival rates typically between 30-60 % after the first five years. This is a worrying factor as it clearly underlines that there is a high probability of failure for new entrepreneurs within the first five years.
In 2016, 30.6 million individuals were self-employed in the EU-28, accounting for 14 % of total EU-28 employment. While data for the surviving firms show that the vast majority of firms created by the self-employed do not substantially increase employment in the five years following their creation, there is a sub-set of up to 20 % of firms that manages to increase employment by more than 5 employees.
Through an in-depth analysis of existing entrepreneurship programmes offered by HEIs in the EU and beyond, the project DIFME-Digital Internationalisation and Financial Literacy Skills for micro-entrepreneurs will identify the existing gaps in microentrepreneurs skills. DIFME will develop fundamental competences related to financial literacy and entrepreneur internationalization. Digital skills in this area will be developed. The necessary skills will be integrated into a curriculum which is adapted to the real needs of the industry. The program will combine different learning approaches with an e-learning platform made available. All the information will be available through an SME HUB, which will assist both micro and larger entrepreneurs to find digitally innovative ways to internationalise their businesses. Through its SME Hub, DIFME will support entrepreneurs to seize new business opportunities.
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