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Global Entrepreneurship
Monitor
2022/2023 Global Report
Adapting to a “New Normal”
Global Entrepreneurship Monitor 2022/2023 Global Report
AUTHORS
GEM Global
Professor Stephen Hill, DSc (Lead Author)
Aileen Ionescu-Somers, PhD
Professor Alicia Coduras, PhD
GEM Chile
Professor Maribel Guerrero, PhD, Arizona State University, USA, and Universidad del Desarrollo, Chile
GEM Israel
Professor Emeritus Ehud Menipaz, P.Eng, Ben Gurion University
GEM Morocco
Fatima Boutaleb, PhD, Hassan II University of Casablanca
GEM Poland
Professor Przemysław Zbierowski, PhD, University of Economics in Katowice
GEM Turkey
Professor Thomas Schøtt, PhD, University of Agder, Norway
GEM UK
Professor Sreevas Sahasranamam, PhD, University of Strathclyde, Glasgow
GEM USA
Professor Jerey Shay, PhD, Babson College
In collaboration with GEM National Teams, the GEM Global Data Team — Francis Carmona and Alicia
Coduras — produced the Economy Proles in Part 2 and all gures and tables, while Kevin Anselmo
produced the Entrepreneur Proles used throughout the report.
Although GEM data were used in the preparation of this report, the interpretation and use of the data are
the sole responsibility of the authors.
Published by the Global Entrepreneurship Research Association, London Business School,
Regents Park, London NW SA, UK
Please cite as: GEM (Global Entrepreneurship Monitor) (). Global Entrepreneurship Monitor
2022/2023 Global Report: Adapting to a “New Normal”. London: GEM.
Cover image:
iStock.com/marrio
Design and production:
Witchwood Production House http://www.witchwoodhouse.com
BBR Design https://bbrdesign.co.uk
© The authors and the Global Entrepreneurship Research Association (GERA)
1
Global Entrepreneurship Monitor 2022/2023 Global Report
Contents
GEM Policy Influence: Examples from
the UK, Guatemala and the USA
Key GEM Definitions and Abbreviations
Acknowledgements
Foreword
About GEM
Executive Summary
Key ndings
Conclusions
Report format
Key Thoughts for Policymakers from
the GEM / Global Report
Authors
Part Analysis
. What Is GEM?
. Brief introduction
. The global context
. Why entrepreneurship matters
. The GEM methodology
. GEM participating economies
. The impact of the pandemic on household
incomes
. Conclusion
. The Social and Cultural
Foundations of Entrepreneurship
. The inuence of society and culture
. The recognition of opportunities
. Can I start a business?
. Investing in someone else’s business
. Conclusions and policy implications
. Levels of Entrepreneurial Activity
Across the Globe in
. Measuring entrepreneurial activity
. Where is entrepreneurial activity highest?
. How has the pandemic aected levels of
entrepreneurship?
. In what sectors are new businesses started —
and does this matter?
. Conclusions and policy implications
. Entrepreneurial Motivations and
Responsibilities
. Introduction: a world of change
. Changing the world
. Why start a business?
. Becoming a digital world
. Social and environmental responsibilities
. Entrepreneurship and the United Nations
Sustainable Development Goals (SDGs)
. Conclusions and policy implications
2Global Entrepreneurship Monitor 2022/2023 Global Report
. The Impacts of Entrepreneurial
Activity
. What determines entrepreneurial impacts?
. Entrepreneurship and the United Nations
Sustainable Development Goals (SDGs)
. Entrepreneurship and employment
expectations
. Entrepreneurship and innovation
. Entrepreneurship and competitiveness
. Entrepreneurship and international revenue
. Conclusions and policy implications
. All Kinds of Entrepreneurs
. Introduction
. The entrepreneurial gender gap
. The entrepreneurial age gap
. The entrepreneurial graduation gap
. Conclusions and policy implications
. Exiting a Business
. Introduction
. Exit rates and Total early-stage
Entrepreneurial Activity (TEA)
. The pandemic and exit rates
. Exit and continuation
. Reasons for exit
. Conclusions and policy implications
Part National Contexts
and Economy Profiles
. The Context for Entrepreneurship
. Introduction
. Dening and assessing context
. Contemporary Entrepreneurial Framework
Conditions (EFCs)
. The National Entrepreneurship Context
Index (NECI)
. The evolution of NECI
. The entrepreneurial environment and
innovation
. Conclusions and policy implications
Economy Profiles
Part Appendix Tables
GEM Indicators
GEM Global Sponsor
Report Sponsors
3
Global Entrepreneurship Monitor 2022/2023 Global Report
Figures
Figure . The GEM Conceptual Framework
Figure . The entrepreneurial process and GEM indicators
Figure . The impact of the pandemic on household income
Figure . Knowing someone who has started a business in the last two years (% adults)
Figure . In the next six months, there will be good opportunities to start a business in my area
(% adults agree)
Figure . In the next six months there will be good opportunities to start a business in my area
(gures for and , economies; % adults agree)
Figure . In my country, it is easy to start a business (% adults agree)
Figure . I have the knowledge, skills and experience to start my own business (% adults agree)
Figure . You would not start a business for fear it might fail (% of those agreeing there are
good opportunities locally)
Figure . Are you expecting to start a business in the next three years? (% adults responding yes)
Figure . Informal investors (% adults)
Figure . Median amount invested (US) by those investing in someone else’s new business
Figure . Total early-stage Entrepreneurial Activity (TEA) and Established Business Ownership
(EBO) (both % adults)
Figure . Levels of Total early-stage Entrepreneurial Activity and GDP per capita
Figure . Levels of Total early-stage Entrepreneurial Activity and the UN Human Development
Index
Figure . Levels of Total early-stage Entrepreneurial Activity each year since (
economies participating in GEM for all four years; % adults)
Figure . The percentage of those starting or running a new business who think doing so is
more dicult (includes both somewhat and much more dicult) than one year ago
(% Total early-stage Entrepreneurial Activity)
Figure . The percentage of those starting a new business who agree that the pandemic has
led to new opportunities they wish to pursue, and the proportion of those running
established businesses who are pursuing such opportunities (% Total early-stage
Entrepreneurial Activity and % Established Business Ownership)
Figure . Business services and consumer services as a percentage of Total early-stage
Entrepreneurial Activity (% TEA)
Figure . The proportion of those starting or running a new business and reporting lower
growth expectations than a year ago (% Total early-stage Entrepreneurial Activity)
Figure . Expectations of lower growth for new entrepreneurs: comparison between and
( economies; % Total early-stage Entrepreneurial Activity).
Figure . Agreement with motivations “to make a dierence in the world” and “to build great
wealth or very high income” (% Total early-stage Entrepreneurial Activity)