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3 Predictors of Entrepreneurial Activity (GEM)

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Based on Paul Reynolds' re-analysis of harmonized GEM* data - he found three predictors that were robust over time & across countries. …

Based on Paul Reynolds' re-analysis of harmonized GEM* data - he found three predictors that were robust over time & across countries.

Include policy suggestions for my home state of Idaho

Published in: Business, News & Politics
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  • 1. Three Keys to Growing Entrepreneurial Communities • From the Global Entrepreneurship Monitor (GEM, over 10 years of study;~80 countries)• #1. People believe they are personally prepared to be entrepreneurs – they SEE themselves as truly entrepreneurial.• IDAHOs Status? K-12 & CCs with growing potential (universities has loooong way to go). Non-school programs also high potential• NEEDS: World-class education broad/deep across the state & citizens that focuses on growing mindset not skills• The “ask”: Get started! Start with K-12 and CCs (eg, IDLA, IEN, Ice House, Lean Launchpad
  • 2. Three Keys to Growing Entrepreneurial Communities (2) • From the Global Entrepreneurship Monitor (GEM, over 10 years of study;~80 countries)• #2. Local social & cultural norms are seen by entrepreneurs as supportive• Idahos Status: Were a great small business state but not yet an “entrepreneurial” state -but its within reach• Needs: More communication/conversation with entrepreneurial community → better maps of ecosystem; strategic intent (commitment)• The “ask”: Rigorously surveying & mapping the ecosystem, listening session, regular forums; informal engagement. Work the media better
  • 3. Three Keys to Growing Entrepreneurial Communities (3)• From the Global Entrepreneurship Monitor (GEM, over 10 years of study;~80 countries)• #3. Ease of doing (& starting) business• Idahos Status: A real strength for Idaho! Not perfect (eg, biz property tax) but we listen• Needs: We can always get better at connecting our businesses (again, maps & surveys). Teach communities to do even better; help them grow connectors. Ties into #2• The “ask”: Again, help our firms understand the ecosystem & competitive arenas so they can connect better (maps, surveys, listening sessions). Cutting-edge training for communities to support businesses.

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