In this regard, enthusiasm about start-ups and microenterprises and small and mediumsized enterprises is understandable, yet it often appears to be overstated, in particular in the light of the low survival rates of such enterprises. Whether and how the potential opportunities offered by global value chains (GVCs) can help to stimulate the entrepreneurship needed to drive structural transformation is a critical developmental question for LDCs. However, there has been surprisingly little research to validate the supposed advantages of GVCs in stimulating local entrepreneurship.