GEM Report on US Entrepreneurs
A new report today released by the Global Entrepreneurship Monitor (GEM) focuses on US based entrepreneurship.
I’ve been lucky enough to be exposed to these reports through my work at Babson College who put out the GEM reports in conjunction with the London Business School.
The highlights of this report are pretty interesting. Especially for anyone thinking about starting a business or interested in the trends of new business in America.
A new term that I had not heard before is an “HPE” or High-Potential Entrepreneur. The report found that in the US these are most predominantly young motivated by opportunity males from the upper income arena. They think differently then the general population and don’t believe they have any competitors. Nothing shocking there, but interesting that the study confirmed it.
The stat that I found most intriguing was that in the US the average amount of funding needed to start a business is $70,200. I’m happy to see that it isn’t in the millions of dollars as most people would expect. Also, it found that 67.9% of those initial funds come directly from the entrepreneur themselves.
You can download the full report or read the press release with highlights.
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I emailed a link to this show to the Podcasting for Teachers podcast at http://podcastforteachers.org/ They were scratching their heads about PDF files on podcasting feeds. Your show is a good example.
Whoops. I forgot that I linked to a PDF in this. I totally forgot that it came down the pipe like that. Didn’t mean for it to, but your right that it’s THAT easy.