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American Entrepreneurs See Great Opportunities In Starting New Ventures

The Global Entrepreneurship Monitor reports highest levels of ‘opportunity perceptions’ ever recorded in its 14-year history.

U.S. adults are eager to engage in entrepreneurship with 43% recording that good opportunities exist right here in this country, according to the Global Entrepreneurship Monitor (GEM) Global 2012 Report issued last month. The Babson sponsored research of entrepreneurship worldwide is the largest single study of its kind.

“The 43% measure of opportunity perception is the highest we’ve ever recorded since we started the GEM survey in 1999,” commented Donna Kelley, co-author of the report and Associate Professor of Entrepreneurship at Babson College. “This jump ─ to 43% from 36% in 2011, and after plunging to 28% in 2009 ─ is significant because the measure is highly sensitive to economic cycles. This means that more Americans are thinking more positively about prospects for starting businesses after the pessimism evident in the years following the downturn,” noted Kelley.

GEM found that Americans are among the most confident not only about their entrepreneurial skills, but in their abilities to succeed. Though higher than recorded in 2008 (at 25% vs. 32% in 2012), ‘fear of failure’ is low in the U.S. compared to other developed economies in Western Europe, and in Israel and Japan.

Visit the Babson Global Entrepreneurship Monitor Website to access the full report.

About GEM

In the late spring and early summer of 2012, more than 198,000 adults in 69 economies took part in the GEM survey. With the largest sample to date, this group of economies represented an estimated 74% of the world’s population and 87% of the GDP.

The Global Entrepreneurship Monitor (GEM) is a not-for-profit academic research consortium that has as its goal making high quality information on global entrepreneurship activity readily available to as wide an audience as possible. GEM is the largest single study of entrepreneurial activity in the world. Initiated in 1999 with just 10 countries, GEM has now conducted research in over 80 economies all over the world. Visit the Babson GEM Website or the GEM Consortium Website.

About Babson College

Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds®. The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society—while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action® as the most positive force on the planet for generating sustainable economic and social value. For information, visit the Babson College Website.

By Barbara Spies Blair | 1/25/2013 12:00 AM