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A healthy flow of good quality new businesses is necessary for a dynamic economy. Such enterprises renew the existing stock, innovate, found entirely new industries and create employment. Entrepreneurs are a key force in this development, spotting market opportunities and bringing together people and resources.

The Left has, in the past, sometimes been cautious about promoting entrepreneurs. It has seen them, perhaps, as the epitome of a crude, unfettered capitalism. Small companies are often the ones where labour conditions are worst. But with a changing industrial structure any residual antagonism is now being rethought and the creative role of entrepreneurs recognised.