 My question goes to the first presenter. So she was presenting an experience from Uganda. And actually, in one of your statements, you say that MFIs or microfinance institutions usually want to support established businesses, but not basically entrepreneurs. And it just happened to have a recent paper on MFIs and just say inability. But we realized that MFIs whose capital structure was more composed of grants were not as sustainable as those whose capital structure was composed of share capital. So my question is, do you think it has a link to the terms and conditions from the funders of these MFIs that perhaps they should not support, you know, growing entrepreneurs or not? Because one of my findings there was that there was a relationship between non-sensitivity or non-good performance in relation to the grants. But I hadn't yet established if it were a link to the terms and conditions. So that's why I wish to know that maybe if also here is within your experience that maybe it's maybe due to the terms and conditions from the funders of these MFIs. Thank you. OK, so maybe if you want to take that question so we can move on to questions on the second paper. OK, it's hard to speak with my back to everybody. There's a long literature on MFIs which I don't want to go into too much. I think a lot of the current research on MFIs suggests that microfinance doesn't necessarily the sort of the Grameen Bank fairytale doesn't really represent the majority of microfinance clients. And the many are using microfinance for consumption smoothing. And that's not necessarily bad. But it's just important to realize that that doesn't necessarily mean that if you have a lot of MFIs in sub-Saharan Africa, you're getting credit to the sector. It's also a reasonable banking from a point of view of any bank not to support especially a commercially financed bank not to support a startup because the risk is much higher than the bank can usually afford to do, especially given the cost of administration, et cetera. And so unless you have something like a credit circle where everybody guarantees that loan, the bank couldn't do it. Now, should there be commercial-oriented MFIs or should there be grants? Well, I mean, if the flow of grant money sustains the banks like it does in Bangladesh, then that's great. And if it doesn't, as it hasn't given the demand for credit in sub-Saharan Africa, then other models had to evolve. So it's not that I'm suggesting that there's something wrong with your results or there's something wrong with the MFI model in sub-Saharan Africa. It's the model that's working and is sustainable, but we just have to realize that it does not necessarily address the problem that this group faces. I actually have, I think that savings groups may be an important innovation that could help this group and then lead them so that they're then ready for an MFI when the MFI has money. And I've written a little bit about that. So, questions for the second paper? Yeah, at the back. Hi. My name is Eva from the Finnish University Network for International Development. My question is to Susana. I hope I pronounced it properly. Yeah. In your research, apart from subsidizing startup capital for businesses and providing training, did you find any evidence that creating an environment that allows young entrepreneurs to be creative would lead to a generation of new enterprises in Switzerland? So we might take a few questions for Susana if there are more. Yes, over here. Thank you, Susana, for the presentation. I'm Han from UNU-Wider. In your research, were you able to identify the conditions for the high-growth youth enterprises? Because I did notice that in one of the graphs, the youth entrepreneurs actually outperform a very small number of them actually outperform the adult enterprises. So have you found some ways of identifying which are these high-growth youth enterprises? Thank you. Another question? OK, maybe you could answer these and we might take another round. OK, so thank you for this question. So maybe on the first one, there is an environment for young people to be creative. Maybe to start with the business environment in Switzerland is weak for everybody. So that hampers entrepreneurship to begin with. And then adoption of technology, and that usually is linked to creativity and innovation. Switzerland, but not only Switzerland, South Africa as well. So the southern region of Africa tends to be particularly weak in that area. We can see it from recent Africa competitiveness or actually global competitiveness report. On a positive side, and again, Switzerland had its own version of the global financial crisis. It hit only in 2011 and 2012 with the declining SAKU revenues. And then again, cost major, it had important employment implications. So that kind of stimulated government to start thinking about entrepreneurial training. So now we see introduction of entrepreneurship courses throughout not only at the university, but also at the early stages of education. And hopefully that will, so to have the entrepreneurial mindset from early on, that should help. Now on the high-growth entrepreneurs, I agree with you. That's actually a very important area for us. We have not looked at this impartially here, but it's area that we want to look in the future. And what the literature says, and we also took note that yes, there are some young entrepreneurs that do very well. But in literature what you find out that yes, young entrepreneurs tend to fail more often within the next, however, those who survive tend to be more innovative than adults. That's across not just in Switzerland, and then to be the high growing. That also explains why the European studies started to look at the high potential entrepreneurs, because even in the United States there's one out of 20 that succeeds. But then they can really drive and employ. So that will be area of future research, not necessarily in Switzerland, but perhaps also in Switzerland. Thank you. Are there any more questions? Yes? Thank you. My name is Grisha Snove from Zimbabwe. My question is somewhat linked to the first question, but it's mainly to do with institutional support, especially in Switzerland, to say, is there any institutional support to the young entrepreneurs for them to be able to start up? Because one of the main challenges that they face, especially in starting up the enterprises, is availability of startup capital. So are there any interventions in Switzerland to try and alleviate that challenge? Thank you. Any further questions? Okay. Thank you. Yeah, that's also an important question. In fact, there was a specific intervention targeted at use, and maybe we can draw some lessons from that. In 2009, the government opened something called the Use Enterprise Fund, vis-à-vis to provide startup capital for young entrepreneurs. But it was government kind of linked operation, and two, three years down the road, it had major challenges of repayment rates. So one weakness that appeared that these people were not selected partically, well, so it goes back to selection criteria. But more importantly, there was no monitoring after the funds were disbursed. And again, we had these focused discussion with young people, and they admit themselves, you know, sometimes we're not focused, we get the money, but then there is the peer pressure. By the time we get home, the money is spent on something else. So those are those specific challenges. So they said something like that. We are very creative. At the same time, we need a little bit more guidance, perhaps. So those are the lessons for the future. Thank you. Okay, so I think we'll end. Oh, there is one more question. I think we have time. Thank you. My name is Ote, I'm from Nigeria. Just an observation for the first presenter. What I want to say is part of this work should focus on the impact of non-farm enterprise on structural transformation. Time series methodology is anticipated because structural transformation is time involving. I don't know if you're getting what I'm saying. In the face of a baseline cross-sectional methodology may be permissible. Thank you. I guess I agree that cross-sectional methodology is a problem, especially if you want to know about mobility. Actually, I even tried to make a panel of enterprises using a panel data set that measured it in 2005 and 2010. And I ran into a lot of problems as well. I think we need a lot more work on mobility in this area, but you've got to start somewhere. I think we can conclude on that note. So I have one announcement to make, which is that the session after the coffee break, it'll be the poster session, and the presentations are listed in the program. And the way it's going to be set up is that each of the seven groups will be presenting at the same time. And presenters A in each group, and that's listed on the program, will speak first, then presenters B, and so on. So each presentation will be seven minutes long and after that, there will be four minutes for questions and answers at each of the stands before the next presenter starts. And the aim is to have all of the presentations finished within one hour, so that there will be half an hour for discussion at the end. So that will be after the coffee break, but I think there's still 30 minutes left. So if people want to catch another paper in a different session, they can do that. But let's show our appreciation for the speakers and thank everybody who participated in the discussion.