GEM: Millions of Entrepreneurs Expect to Create New Jobs

WASHINGTON, January 18, 2011 - Two hundred million people between 18-64 years old are actively engaged
in starting or running new businesses in 59 economies as the study released
by the Global Entrepreneurship Monitor (GEM) reports. GEM is the largest and
most comprehensive worldwide research study of entrepreneurial attitudes,
activities, and aspirations.

The Global Entrepreneurship Monitor 2010 Report estimates 63 million of
these early-stage entrepreneurs expect to hire at least five employees over
the next five years; 27 million anticipate hiring twenty or more people to
fill newly created jobs. The potential contribution of entrepreneurship in
job creation across the globe is important to economic growth.

Entrepreneurship's contribution to an economy is based on more than
numbers of entrepreneurs, it is important to consider the impact small
businesses have on economic growth, innovation, and internationalization.

For job creation, "policy makers need to look beyond simply the number of
active entrepreneurs. They need to understand the contribution these
individuals make to economic growth and national competitiveness. Are these
entrepreneurs creating jobs? Are they building innovative, global companies?
These are important questions to ask," states Professor Donna Kelly, one of
the report authors.

While economies can facilitate people in starting businesses as a source
of income, particularly when there are not enough jobs to meet demand,
employed persons also benefit from new business opportunities. A supportive
environment can encourage many to venture into entrepreneurship.

Societies should contain a variety of business phases and types, led by
different types of entrepreneurs. Women's participation in early-stage
entrepreneurship relative to men's differs widely around the globe. In the
Republic of Korea there are five times more men than women entrepreneurs,
while in Ghana there are more women than men starting businesses.

In 2010, GEM surveyed more than 175,000 people and over 3,000 national
experts in 59 economies around the world. The report covers over 52% of the
world's population and 84% of the world's GDP. This research is accomplished
through an international network of national academic research teams, with
global sponsors Babson College, USA and Universidad del Desarrollo, Chile.

The report is available for download at this site:
gemconsortium.org/document.aspx?id=1088

For information on the report: Author Donna Kelley, +1-413-330-7711, dkelley at babson.edu; For information on the GEM project: Executive Director Kristie Seawright, +1-801-836-6526, kseawright at gemconsortium.org