Global Entrepreneurship Monitor (Gem) - National Entrepreneurship Assessment United States of America - 2003 Executive Report

Posted: 24 Nov 2009

See all articles by Maria Minniti

Maria Minniti

Syracuse University - Whitman School of Management

William D. Bygrave

Babson College - Arthur M. Blank Center for Entrepreneurship

Date Written: 2004

Abstract

The 2003 USA Global Entrepreneurship Monitor (GEM) report indicates that entrepreneurship thrives at very high levels, moving ahead of the general economic recovery of the country. The entrepreneurial activity has increased from 10.5% in 2002 to 11.9% in 2003. Also, the United States has the seventh highest Total Entrepreneurship Activity (TEA) among the 31 GEM countries and a rate of 2.4% of the total Firm Entrepreneurial Activity (FEA), the tenth highest across the GEM countries. Three investigation methods are used in the series of national GEM studies: an adult population survey; interviews with entrepreneurship experts in that country; and selected national and demographic data. The GEM model examines general framework conditions for economic growth and nine entrepreneurial framework conditions – financial support, government policy, government programs, education and training, research and development transfer, commercial and professional infrastructure, market openness, access to physical infrastructure and cultural and social norms. In terms of population profile, people between 24 and 34 years of age are the most active in entrepreneurial activity. Of these, men are more likely to start a new business than women. The U.S. entrepreneurial culture continues to influence participation in entrepreneurial activities. Moreover, financing from informal investors and entrepreneurs plays an important part in both new and established ventures. Formal venture capital has declined from its peak in 2000. Recommendations are made for improving the gender gap in entrepreneurship, increasing awareness of entrepreneurship opportunities, and providing more exposure to entrepreneurship education as well as access to the latest technology. Recommendations are also made for strong intellectual property rights laws to increase R&D transfers and cooperation between university research and growing firms. (CBS)

Keywords: Entrepreneurial education, Experimental/primary research, Cultural attitudes, Entrepreneurial activity, Ethnic entrepreneurs, Individual traits, Startup rates, Educational background, Males, Startups, Age, Angel investors, Early stage financing, Ethnicity, Females, Job creation, Venture capital, Gender

Suggested Citation

Minniti, Maria and Bygrave, William D., Global Entrepreneurship Monitor (Gem) - National Entrepreneurship Assessment United States of America - 2003 Executive Report (2004). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship. Available at SSRN: https://ssrn.com/abstract=1509254

Maria Minniti (Contact Author)

Syracuse University - Whitman School of Management ( email )

721 University Avenue
Syracuse, NY 13244-2130
United States

William D. Bygrave

Babson College - Arthur M. Blank Center for Entrepreneurship ( email )

231 Forest Street
Babson Park, MA 02457-0310
United States

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