
(Monterrey, Mexico) High levels of entrepreneurial optimism, ambition and innovation are vital to advancing economies according to The Global Entrepreneurship Monitor 2014 Global Report which also found that entrepreneurship worldwide has recovered from The Great Recession.
African economies showed the highest ability to perceive and pursue entrepreneurial opportunities with little fear of failure. In contrast, European Union nations are less optimistic, see fewer opportunities and are more uncertain about their skills in acting entrepreneurially.
“Ambitious Entrepreneurship has a powerful impact on economic development through job creation and its incentive to innovate and build international marketplaces,” said Slavica Singer, GEM’s lead author from J.J. Strossmayer University, Osijek, Croatia.
The GEM report’s special topic, Youth and Entrepreneurship in Sub-Saharan Africa, also found that Africa’s boom in youth entrepreneurship is expanding globally. GEM’s full special topic report will be available this April.
U.S. Entrepreneurship Recovers
Entrepreneurship rates in the United States rose to nearly 14 percent in 2014 from a post-recession low of 7.6 percent in 2010. “We are highly optimistic because for the first time, more than half of American adults see good opportunities for starting businesses,” said lead U.S. researcher and Babson College Entrepreneurship Professor Donna Kelley. “Youth entrepreneurship is also growing. In 2014, 18 percent of 25-34 year-olds were starting or running new businesses compared to just 15 percent in 2013. This is good news because when young entrepreneurs build and practice the skills needed for entrepreneurship, they equip themselves with the capacity for pursuing opportunities throughout their careers.”