GLOBAL ENTREPRENEURSHIP MONITOR 2004 Wales Executive Report

  • Brooksbank, D., Jones-Evans, D. (2004). (Global Entrepreneurship Monitor )
  • Abstract: This is the sixth annual GEM cross-national assessment of entrepreneurial activity and the project has expanded from 10 countries in 1999 to 35 in 2004. The 2004 study represents a total labour force of 566 million, with GEM estimating that 73 million adults are entrepreneurially active.Total entrepreneurial activity (TEA) varied from a low of 1.5 per cent to a high of 40 per cent of working age adults, and the average level of entrepreneurial activity was 9.3 per cent (or one adult in eleven). ● The 2004 GEM study suggests the existence of a U-shaped relationship between entrepreneurial activity and per capita gross domestic product (GDP). The study demonstrates that entrepreneurial activity declines as countries attain higher national income and reaches its lowest point at about £16,000 of GDP per head, which is just below the UK level (GDP per head in Wales is currently around £12,000). Beyond that level of GDP, entrepreneurial activity begins rising slowly and steadily as per capita GDP continues to rise. This observation implies that TEA rates vary according to the level of per capita income and therefore policies must be appropriate to the average income level pertinent to the specific economy. In contrast, inappropriate policies with regard to entrepreneurship may adversely affect the level of economic growth within the country. ● For the last five years, the Global Entrepreneurship Monitor has been sponsored by the Welsh Development Agency and undertaken by a research team consisting of Professor David Brooksbank (University of Glamorgan) and Professor Dylan Jones-Evans (University of Wales Bangor/NEWI). In recognition of the importance of research in this area, they have established the National Entrepreneurship Observatory for Wales (NEO). As a joint project between the Business School at the University of Glamorgan and the Centre for Advanced Studies in the Social Sciences at Cardiff University, this new body will undertake regional, national and international research projects in the field of entrepreneurship and small business development. View external link »
  • Theme: Perceptions and attitudes
  • Keywords: entrepreneurial attitudes; entrepreneurial activity; entrepreneurial aspirations
  • Reference type: Report
  • Geographic location: Wales
  • Quality: Annual Report by GEM using their own survey
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