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Latest News / African countries show highest levels of entrepreneurial intention

 

The Global Entrepreneurship Monitor (GEM) Global Report 2016/17 reveals that Africa has the highest level of entrepreneurial intention, with 42% of people intending to start a business in the next three years. Second ranked was Latin America and the Caribbean, with 32% of people expressing an intention to start-up. Europe reported the lowest levels of entrepreneurial intention; almost half that of their peers in Africa. In total, 22% of those surveyed globally indicated they intended to start a business in the next three years.

The survey, which covered 69% of the world’s population and 85% of the world’s GDP, also revealed that 42% of adults saw good opportunities for starting a business in their region.

Latin America and the Caribbean reported the highest levels of wholesale/retail business, representing 58% of all business in those regions, with Africa, Asia and Oceania also revealing over half their businesses operated in this sector.

Meanwhile, in Europe the highest levels of business activity occurs in the technology, financial and professional service sectors, representing 54% of business. Wholesale/retail businesses accounted for less than a quarter of all businesses. Africa saw only 13% of businesses operate within technology, financial and professional service sectors.

The report highlighted South Africa as the African country with the most optimistic outlook on job creation, with 85% of entrepreneurs indicating they expected to hire staff within the next five years - far ahead of the average 35% for the continent.

Shell LiveWIRE countries, Malaysia, Brazil and Indonesia, were three of only four countries in which entrepreneurship rates for women were equal to, or higher than men. Malaysia had the biggest difference in gender inequality, with women twice as likely to start a business as men.

You can access the full report here.

 


 

African countries show highest levels of entrepreneurial intention
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