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GEM Global Report 2017/18

PRESS RELEASE

19 March 2018

 

Most Entrepreneurs Start Businesses Out of Opportunity Not Necessity

The 2017/18 Global Entrepreneurship Monitor (GEM) reports that that entrepreneurship levels remain stable around the world and opportunity-driven entrepreneurship predominates.

A robust 74% of entrepreneurs around the world have started businesses in pursuit of an opportunity rather than out of necessity – this according to the Global Entrepreneurship Monitor (GEM) 2017/18 Global Report released in February with sponsors Babson College, Universidad Del Desarrollo, Universiti Tun Abdul Razak, and Korea Entrepreneurship Foundation.

“There is often a misperception that necessity drives most entrepreneurs in regions like Africa or Latin America. The reality is that opportunity is overwhelmingly the most common driver of entrepreneurship in nearly every economy we surveyed in 2017,” comments Mike Herrington Executive Director of GEM. “This finding is consistent – GEM has observed a stable pattern in recent years.”

Fifty-four economies participated in the 2017/18 annual GEM survey, covering 68% of the world’s population and 86% of the world’s GDP. In its 19th consecutive year, the report continues to serve as the largest single study of entrepreneurs in the world.

According to the Global Entrepreneurship Monitor (GEM) 2017/18 Global Report:

Total Early-Stage Entrepreneurial Activity (TEA) – measuring both necessity and opportunity entrepreneurs – is highest in Latin America and the Caribbean (LAC) where just under one-fifth of working-age adults are engaged in early-stage entrepreneurial activity. TEA rates are lowest in Europe at 8%.

While improvement-driven opportunity entrepreneurship predominates in all economies except India, economies with higher levels of economic development generally report higher levels of opportunity-driven entrepreneurship and higher levels of innovation (measured by the extent to which entrepreneurs are introducing new products that are unfamiliar to all or some customers and offered by few or no competitors). Regionally speaking, North America tops the motivation index in 2017/18 with 5.2 improvement-driven opportunity entrepreneurs for every necessity-driven entrepreneur. Africa reports the lowest levels with a ratio of just 1.5. Other regional ratios in descending order are: Europe 3.4; Asian/Oceana 3.2; LAC 2.2.

North America is also the region with the highest proportion of entrepreneurs (29.5%) expecting to create six or more jobs in the next five years. The lowest performing region is Africa where just 17% of entrepreneurs planned to create six or more jobs in five years.

LAC, and North America, demonstrate the highest rates of women entrepreneurship (17% and 13%). These two regions also have the highest rates of youth entrepreneurship (17% and 14%). The lowest rates or women and youth entrepreneurship are found in Europe (6% and 7% respectively).

A powerful lever for policy development

According to Herrington, entrepreneurship and innovation remain key levers to create jobs and contribute to economic growth and stability and GEM data continues to make a valuable contribution to policy formulation globally.

GEM tracks 12 entrepreneurship eco-system components that are considered important contributors to building a stimulating environment for entrepreneurs and those with entrepreneurial intentions. Overall, North America has the most conducive entrepreneurial framework conditions and Africa the least favourable.

Change in the environment for entrepreneurship generally happens slowly. However, positive signs can be seen in the fact that among the efficiency and innovation-driven economies that participated in GEM in both 2016 and 2017, most entrepreneurial framework conditions stayed relatively the same or showed small increases. Among 25 efficiency-driven economies, small improvements were seen in entrepreneurial finance, and in government and education conditions, from 2016 to 2017. Both government policies and programmes received higher ratings in 2017, as well as entrepreneurship education at both the school and post-school stage.

To arrange an interview please contact Michelle Ford michelle@rothko.co.za

About the Global Entrepreneurship Monitor (GEM)

The Global Entrepreneurship Monitor (GEM) was initiated in 1999 as a joint venture of Babson College and the London Business School. Starting with 10 participating economies, the project expanded to include 73 economies in its 2014 survey. GEM is unique because, unlike most entrepreneurship data sets that measure newer and smaller firms, GEM studies the behaviour of individuals with respect to starting and managing businesses. GEM academic teams in each participating economy are members of an exclusive research project that provides access to the collective knowledge of some of the world’s most renowned researchers and institutions involved in entrepreneurship research. Follow GEM on Twitter.

Issued by Rothko on behalf of the Global Entrepreneurship Monitor.

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Pedri

Graphic Designer

Pedri is a highly creative and multitalented Graphic Designer with more than 10 years of experience in multimedia, marketing and print design. He is proficient in creative design and conceptualisation, logo and CI design and concept presentation, illustration and drawing and web development. Pedri has been part of the Rothko team since 2008. 

Kat

Intern

Katelinje’s passions include the fine arts, fashion and literature. Her interest lies in how these fields overlap, what their potential is to provoke thought and how to create meaning through mark making. Eager to learn, Kat is excited to gain insight into the world of marketing, advertising and writing as our new intern.

Alethea

Project & Content Coordinator

 

Alethea is responsible for project managing of PR and Content on client accounts and implementation of campaign strategies. She’s worked with a broad base of clients from entrepreneurial start-ups, to emerging and global brands. Her years of experience in the communications industry has contributed to her versatility in the profession along with her knowledge of business, financial services, corporate, lifestyle and consumer sectors. She enjoys travelling, adventure and having a good laugh.

Bradley

Account Executive

 

Bradley works with the Content and PR team. He provides support in content generation and distribution across digital, print and broadcast media platforms. He has become an email marketing expert having worked on 100’s of email marketing campaigns and newsletters. When he’s not in your inbox, he spends his time on YouTube keeping up with the latest social media trends and other relevant industry topics.

Morgan

Writer

Morgan Morris is a freelance writer and filmmaker based in Cape Town. He studied English and economics at the University of Cape Town, and returned decades later for his master’s in documentary filmmaking. Morgan has been a writer and photographer for over 25 years. He has been fortunate to work largely in the areas of science and business writing, abiding passions since his undergraduate days. His clients have been varied – from the National Research Foundation and the national Centre of Excellence in Food Security to the World Health Organization. He is an avowed believer that a society that understands the forces that shape it would be able to build a more stable and prosperous society for all. He is working on his first screenplay – a cautionary fable about South Africa

Sandra

Writer

Sandra is a writer, editor, and writing skills facilitator with a particular love for the way a beautiful sentence unspools. Sandra works with both corporate and civil society organisations to produce engaging texts and promote social change. She has a background in human rights and social development and has written an award-winning collection of short stories. If not writing, then reading—or if neither writing nor reading—then up a mountain or wandering the west coast.

Melanie

Writer

Melanie once worked for Rothko’s PR and content team, when she was fresh out of university. She’s returned to the team after a decade living the fast-paced city life in London. There she worked as a writer and comms specialist in agency and in-house, most recently managing global comms projects and campaigns for international healthcare organisation, Bupa.

Andrea

Writer

Andrea started out as a news reporter in the Magistrate’s Courts, went on to dodge bullets in taxi wars and climbed Kilimanjaro as part of a special team. Then followed years as a copywriter and a stint at www.news24.com, where she particularly enjoyed coming up with catchy headlines. She went freelance in 2009 and has not missed sharing the office microwave one bit, even though she still eats two-minute noodles when on deadline. She started working for Rothko in 2013 and loves the challenge of finding the right words to make every bit of copy shine and stand out from the rest.

Jodi

Writer Intern

Jodi, supports content and project managers in creating high-quality original content for our clients across all media channels, including digital and social media. He also assists with editing and proofreading content from external content producers. When he is not refining his writing talents or expressing himself creatively, he regularly visits the world of sport, following football, the NBA, and UFC fanatically.

Inam

Business Development Director

 

In her capacity as Business Development Director, Inam is responsible for developing, implementing and optimising marketing strategies that provide our clients with competitive service and product offerings aligned to their business strategies. She is the co-owner of Rothko and an executive of the board. In between her busy schedule, Inam enjoys listening to business & motivational podcasts, collecting books she never has time to read and binge-watching Netflix whilst chilling.

François

Account Executive: Visual Branding

 

Francois started his creative career in the field of professional photography, focusing on studio portraiture, food and products. This fascination with commercial images led to his studies at Vega School of Brand Leadership and a career in layout design and desktop publishing. His appreciation for good photography is reflected in his work through innovative logos, social media content, publications and various other visual marketing collateral. Francois detests dreary-looking workspaces – thanks to him the Rothko office is always a stylish and vibrant place in which to hang out.

Natasha

Managing Director

 

Natasha joined Rothko in 2007 as an editorial assistant and has been part of the Rothko family ever since. She is passionate about Rothko – its people, its values, and its loyal clients. As Managing Director of Rothko, she works to ensure that Rothko is not only a home away from home for the team, but that the organisation continues to deliver on its promise to be values and service-driven – a brand partner to all its clients.

Salwa

Office Manager

 

Salwa has been at Rothko for five years and her excellent organizational skills make for a smooth-running operation in a busy office environment. As part of the management team at Rothko, she plays an integral role within the team dynamics, but takes no nonsense from anyone. Whether it’s packing the dishwasher or answering the phone, she ensures everyone’s a team player. When she’s not at her day-job she’s one of the driving forces in her local neighbourhood watch, making sure her community sleeps safe at night.

Michelle

Media Liaison/Sub-editor

 

Michelle joined Rothko in 2017 having spent almost 20 years abroad, mainly in Dubai where, at one time, she had Visa as a client as well as a plastic money provider. Prior to that she worked in internal communications for French investment bank, Société Générale, in London. When she’s not checking everyone’s spelling and grammar, Michelle tries to befriend the media and learn the names of their favourite soccer teams. She usually gets this wrong.

Jane

Founder and CEO – also wordsmith.

 

Jane’s first love is words and writing. It was this that led her to founding Rothko almost 20 years ago and she is delighted that she still gets to spend a lot of time doing what she loves: editing and writing great content for our clients – in addition to all the other things she has to do as the CEO and chairperson of the Board of course!

Bahle

Content Account Executive

 

Bahle’s role as content account executive at Rothko involves strategic content generation, distribution, as well as relationship and project management. On a day-to-day basis he works on website and social media content creation and design as well as content trafficking. He always strives to live the Rothko values.