The Global Entrepreneurship Monitor (GEM) report shows countries have experienced variable impacts from the pandemic. Twelve of the 38 economies which took part in GEM’s Adult Population Survey (APS) both pre-pandemic in 2019 and post-pandemic in 2022, report a substantially higher level of ‘Total early-stage Entrepreneurial Activity’ (TEA).
Younger people are still more likely than older adults to be starting new businesses, with the TEA rate of the 18–34 age group exceeding that of the 35–64 age group in 37 of the 49 economies in the GEM APS. The survey authors say the gaps highlight areas for improvement and should be a focus for policymakers seeking to support the success of future entrepreneurs.
In 2022, men were also more likely than women to start a new business, according to the research. Of the 49 economies participating in the APS, there were just four in which the level of female recent entrepreneurial activity exceeded that of men: Togo, Indonesia, Qatar, and Poland.
New entrepreneurs frequently declare that they take social and environmental implications into account when making strategic decisions about the future of their businesses. Hence there is room for optimism about the positive social and environmental impacts of these future businesses.
Based on interviews with more than 175,000 individuals and experts from 51 economies, the survey also shows the pandemic’s impact on entrepreneurial perceptions has also been highly varied. For example, there were 12 economies in which the percentage of adults seeing good local opportunities to start a business fell by five points or more. In comparison, that percentage increased by more than five points in nine economies. One explanation for these differences may be the level of support that governments were willing – and able – to offer to businesses and households during the pandemic.
The survey found that for the second consecutive year, the United Arab Emirates is number one for the Most Supportive Environment for Entrepreneurship in the GEM Context Index (NECI). GEM defines the entrepreneurial context of a particular economy in terms of 13 different characteristics, labelled the Entrepreneurship Framework Conditions (EFCs).
Report the full report here.
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