Entrepreneurial activity in United Kingdom Germany Greece Russia

Entrepreneurial activity in United Kingdom, Germany, Greece, Russia and The Netherlands Tatiana Zabelova … … …

What is Global Entrepreneurship Monitor (GEM) project? is an annual assessment of the entrepreneurial activity, aspirations and attitudes of individuals across a wide range of countries (in 2011 - 54 economies) main objectives: üTo explore the role of entrepreneurship in national economic growth üTo measure differences in the level of entrepreneurial activity between countries üTo unveil detailed national features and characteristics associated with entrepreneurial activity and uncover factors leading to appropriate levels of entrepreneurship üTo suggest policies that may enhance the national level of entrepreneurial activity The data collected is ‘harmonized’ by a central team of experts, guaranteeing its quality and facilitating cross-national comparisons. Survey: stratified proportional random sample of adult population

GEM: multiple phases of entrepreneurship üPotential entrepreneurs - those that see opportunities in their area and believe they have the capabilities to start businesses üNascent entrepreneurial activity – those starting new enterprises less than three months old üNew business owners - former nascent entrepreneurs who have been in business for more than 3 months, but less than 3 and a half years üEstablished businesses - those that have been in existence for more than 3 and a half years

Fear of Failure, Entrepreneurial Intentions and societal attitudes toward entrepreneurship Economies Fear of Failure Entrepreneurial Entrepreneurship High Status to Media Attention Intentions as a Good Career Successful for (expectation to Choice Entrepreneurship start a business within the next three years) Germany 42, 00 5, 50 55, 00 78, 30 49, 70 Greece 37, 80 10, 50 61, 00 69, 10 32, 50 Russia 43, 40 3, 60 64, 50 65, 30 55, 30 The Netherlands 35, 10 8, 50 83, 40 67, 20 62, 20 United Kingdom 36, 10 8, 90 51, 90 81, 00 47, 30 üRussia as a country that place a high emphasis on extractive resources, exhibit the lowest entrepreneurial intention rates and perception about the status of entrepreneurs as well as expressively high fear of failure level. So these factors have a certain negative influence on entrepreneurship üThe Netherlands as efficiency-driven economy show very high perceptions about both the entrepreneurship as a good career choice and media attention of entrepreneurs as well as the lowest fear of failure levels. So in The Netherlands there is favorable environment for starting new businesses

Perceived opportunities and capabilities toward entrepreneurship Economies Perceived Opportunities Perceived Capabilities Germany 35 37 Greece 11 50 Russia 27 33 Netherlands 48 42 United Kingdom 33 42 Efficiency-driven economies. As for Russia, we can see the rates lower than in innovation-driven economies, except Greece. Also Russia differs from the average level of efficiency-driven countries’ rates – 40% and 52%. That’s why, these features cause negative effect on the level of entrepreneurial activity in Russia. Innovation-driven economies. As for Greece, there a lot different economical and social factors that causes a great diversity between perceived opportunities and capabilities. So we can see that the high level of the second factor can’t create alone a base for a high level of entrepreneurial activity.

Moscow, 2013