Entrepreneurship is an important driver of economic growth and innovation. The evidence from the Global Entrepreneurship Monitor(GEM) provides an important contribution to our understanding of entrepreneurship ambitions and perceptions. Especially as the GEM, unlike many official business statistics, is not restricted to businesses that are VAT/PAYE registered and so includes all potential entrepreneurs.
This indicator measures the percentage of the adult working age population that is actively trying to start a business, or that own and manage a business that is less than three and a half years old. Around 2000 individuals aged between 16 and 80 are interviewed in Scotland each year. Criteria for dashboard recent performance colour: If change is within +/- 1.5 percentage point this suggests that the position is within measurement error and is more likely to be maintaining than showing any change. An increase of 1.5 percentage point or more suggests that the position is improving, whereas a decrease of 1.5 percentage point or more suggests that the position is worsening.
The indicator uses the Total Early-Stage Entrepreneurial Activity (TEA) rate, as published in the Aston Business School Global Entrepreneurship Monitor report: http://www.aston.ac.uk/aston-business-school/research/working-with-business/gem/
Proportion of people aged 18-64 who are in the process of starting a business and those running new businesses less than 3 ½ years old.