On Friday Newswise reported on new employee engagement research by the Global Entrepreneurship Monitor (GEM) which puts some hard data behind the widely accepted notion that entrepreneurs thrive during hard times.
Among GEM's findings as part of its 2008 National Entrepreneurial Assessment for the United States of America:
- Total entrepreneurial activity increased 12.5% from 2007 to 2008.
- The ratio of those who started their business because of the opportunity vs. out of necessity is almost 7 to 1.
- "The United States continues to be at or near the top of the world's innovation-driven economies in terms of early-stage entrepreneurial activities."
- "Perceived opportunity is substantial despite a greater fear of failure."
The GEM study concentrates on early-stage entrepreneurs and young companies. In order to build longevity and survive multiple downturns – whether they're macro or only industry related – a strong workplace culture characterized by solid and ever-retooled human capital strategies is needed.
With the theme of not just surviving but thriving in tough times in mind, I thought you'd enjoy these related posts:
- Engaging Employees Helps 18th Century Baking Company Become a 'Hot 100' Internet Retailer
- Local and Community Banks Doing Well, Thank You
- 'Team Building' Blog Roundup: Three Perspectives and Our Take
Photo credit: random theorist
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