Global Entrepreneurship Monitor (GEM) Conceptual Framework

Entrepreneurship is an important factor in the development of the country. Starting and running an enterprise is a rigorous process in any dynamic economy. Entrepreneurship helps us create new jobs, increase income, and add value. The culture of entrepreneurship helps us bring structural and functional change to society. Entrepreneurial activity is an important indicator of the development of an economy. It provides a benchmark for every economy, enabling comparison with others. Starting a business is a highly personal decision that reflects an individual’s desire, competency, and intention. New entrepreneurs create enterprises within a context of social values and entrepreneurial frameworks that may promote or hinder entrepreneurial activity. Starting a new business is largely dependent on the local, regional, and national environment. The interaction of individual attributes and the entrepreneurial environment also influences the nature of enterprises in terms of choice of sector, innovativeness, and ambitions.