Primary Outcomes (explanation)
1. Level of operations as proxied by turnover, value added, productivity, investment, exports, total assets and number of employees (administrative data).
2. Profitability as proxied by gross profit margin, EBITDA/Turnover , EBIT/Turnover, return on assets (administrative data).
3. Business practices: proxied by advertising, employee training, inventory turnover ratio, current ratio, debt to equity ratio, interest coverage ratio, asset turnover ratio (administrative data)
4. Survival, i.e. the percentage of startups still in business (administrative data)
5. Management practices (survey data)