Australia is has experienced a gigantic fall in entrepreneurship. Between 2003-05 and 2012-14, small business start-ups — as a percentage of all small businesses — declined by 40 per cent. This decline is substantially larger decline than in comparable countries, including the United States, United Kingdom, Canada, and Germany.

This is a key finding from a new book by the Fraser Institute in Canada, published in collaboration with the Institute of Public Affairs, which explores the importance of mitigating the effects of an ageing population on entrepreneurial activity.

Entrepreneurship is the backbone of a successful, growing, and innovative economy.