Mike Herrington VIII Astana Economic Forum 21 st & 22 nd May 2015

SMMEs in many countries contribute 50%-55% to GDP and from 50% - 60% of countries employment Entrepreneurship in any form is the vehicle for: creating new jobs generating revenue advancing innovation enhancing productivity improving business models and processes Despite the challenges they face, entrepreneurs have never been more vital to our economy than they are today Understanding and encouraging entrepreneurship in a country is critical for all organisations both big and small Why Entrepreneurship & SMME Development are Important?

...companies are - downsizing - restructuring - retrenching - government cannot afford to employ more people Therefore you need to create your own employment and help to create jobs with entrepreneurship research that is - rigorously designed and continually refined through the collaboration of a network of academic researchers from across the globe - optimized locally with central oversight - harmonized across multiple diverse economies Global Entrepreneurship Monitor (GEM) Large Businesses are not creating jobs...

...with entrepreneurship research that is - rigorously designed and continually refined through the collaboration of a network of academic researchers from across the globe - optimized locally with central oversight - harmonized across multiple diverse economies Global Entrepreneurship Monitor (GEM) Addressing the need to know more about entrepreneurs around the world...

GEM in 1997

GEM in 2014

GEM Study Most authoritative and informative study in the world Used by policy makers in planning small business policies

GEM studies individuals, their profile and characteristics such as perceptions, attitudes, aspirations and intentions Fledgling businesses that have not yet started New business start-ups Established business owners What makes GEM Unique?

GEM Measures TEA…early-stage entrepreneurial activity - nascent - new businesses GEM distinguishes between - opportunity - necessity - age - gender

GEM Objectives To measure differences in the levels of entrepreneurial activity between countries To uncover factors leading to the enhancement and hindrance of entrepreneurship To suggest policies that may enhance the national level of entrepreneurship

Total entrepreneurial activity rates in GEM countries, 2014

Policy Necessity- Driven businesses High-growth businesses Opportunity- driven businesses

Policy Necessity- Driven businesses High-growth businesses Opportunity -driven businesses

Policy Necessity- Driven businesses High- growth businesses Opportunity- driven businesses