Over 140 mn entrepreneurs to add 5 new jobs: GEM survey

In its 13th year, the Global Entrepreneurship Monitor (GEM)'s Global Report 2011 has witnessed an upsurge in entrepreneurship around the world in its findings. Launched on Friday, the GEM Global Report is an annual survey of early-stage entrepreneurship worldwide.

"There is an upsurge in entrepreneurship around the world – entrepreneurs are now numbering near 400 million in 54 countries -- with millions of new hires and job creation expectations in the coming years. After 9 years India will be included in the 2012 survey. The GEM-India Team is represented by Entrepreneurship Development Institute of India, Ahmedabad; Indian School of Business, Hyderabad and Institute of Management Technology, Ghaziabad," the survey stated.

According to Donna Kelley, Associate Professor of Entrepreneurship at Babson and lead author of the report, "Thanks to an uptick in entrepreneurship worldwide, we now have nearly 400 million entrepreneurs starting and running businesses in the 54 economies surveyed."

"Even better news is that over 140 million of these entrepreneurs expect to add at least five new jobs over the next five years. These figures and growth projections affirm that entrepreneurial activity is flourishing across the globe and that entrepreneurship, as an economic engine, is the best hope for reviving a weakened world economy," she said.

Moreover, the total early-stage activity (TEA) increased significantly from 2010-2011 in many economies and across all levels of economic development -- emerging, developing, and mature. In fact, TEA rose 25 percent among 16 developing economies with China, Argentina and Chile boasting above-average rates in 2010 and even higher rates in 2011.

Twenty mature economies experienced, on average, a nearly 22 percent TEA increase over both years. Meanwhile, GEM interviewed more than 140,000 adults in 54 economies across diverse geographies and a range of economic levels.