This just in from Babson College: The first global study of high expectation entrepreneurship has found that just 9.8% of the world’s entrepreneurs expect to create almost 75% of the jobs generated by new business ventures.
The Global Entrepreneurship Monitor (“GEM”) international research consortium (co-directed by Babson College and London Business School) has examined high expectation entrepreneurship in a new GEM special topic report.
The report defines high expectation entrepreneurship as all start-ups and newly formed businesses which expect to employ at least 20 employees within five years. These ventures have far reaching consequences for the economies in which they operate, particularly because of their impact on job creation and innovation.
The report’s key findings:
- Among country groups studied, more high expectation entrepreneurial activity occurs in North America (USA and Canada) and Oceania (Australia and New Zealand) than in any other country group
- High expectation entrepreneurial activity is highest in the USA -- roughly twice the rate in the UK and Germany
- Worldwide, 9.8% of entrepreneurs expect to create 74.1% of all jobs born out of new business ventures
Copies of the summary report and full report can be accessed via the GEM website: www.gemconsortium.org
(Thanks to Michael Chmura at Babson College for this tip!)