Global Entrepreneurship Monitor (Gem) - New Zealand 2001

In 2001, the first year that New Zealand has taken part in the Global Entrepreneurship Monitor (GEM) project, findings indicate that New Zealand is one of the world's most entrepreneurial countries.The country has a higher rate of total entrepreneurial activity than the United States. Three investigation methods are used in the GEM studies: an adult population survey; interviews with entrepreneurship experts in that country; and selected national and demographic data.The GEM model examines general framework conditions for economic growth and nine entrepreneurial framework conditions – financial support, government policy, government programs, education and training, research and development transfer, commercial and professional infrastructure, market openness, access to physical infrastructure and cultural and social norms. Among the findings: the survival rate of new businesses is only moderate (40% after 5 years) and only 18.2% of the adult population can be considered business entrepreneurs.The country has the world's highest rate of "opportunity entrepreneurship" (2.8%), and New Zealand has the world's highest per capita rate of female entrepreneurship (43.9%).In the 25-34 year age group, women entrepreneurs outnumber men. Compared to the trend around the world, in which entrepreneurs come from the younger groups, New Zealand has the world's highest percentage of "senior entrepreneurs." Insofar as informal investments and startups are concerned, the country is second in the world, and also the country with the world's highest rate of business angel activity. The Maori are said to be as entrepreneurial as European New Zealanders. Overall, entrepreneurship is based on availability, perception, and conversion of opportunity. Recommendations for future research on New Zealand entrepreneurship target important entrepreneurial conditions, such as: business angel activity; research and education; women's entrepreneurship; and the Maori dimension of New Zealand entrepreneurship. (CBS)