The Global Entrepreneurship Monitor (Gem) - Executive Report Belgium and Flanders 2001

The 2001 Global Entrepreneurship Monitor (GEM)findings for Belgium and Flanders suggest that, of the 29 countriesparticipating in the research, Belgium was the least entrepreneurial, and theregion of Flanders was even less entrepreneurial than Belgium on average.Predictions indicate slow economic growth in the future.Threeinvestigation methods are used in the GEM studies: an adult population survey;interviews with entrepreneurship experts in that country; and selected nationaland demographic data.The GEM model examines general framework conditionsfor economic growth and nine entrepreneurial framework conditions – financialsupport, government policy, government programs, education and training,research and development transfer, commercial and professional infrastructure,market openness, access to physical infrastructure and cultural and socialnorms. Some of the concerns about Belgium's lack of entrepreneurial initiativeinclude the social and cultural norms surrounding entrepreneurship as along-term drawback in the entrepreneurial process.Belgium's elaboratesocial security system, for instance, deters one from becoming self-employedrather than facilitating entrepreneurship initiatives. Belgium's educationalsystem does not currently stress creativity and social skills; which is whyopportunity recognition and opportunity shaping need to be prioritized. Inaddition, the heavy administration burdens and red tape an entrepreneur facesare further problems thwarting entrepreneurship. It is suggested thatgovernment programs and subsidies targeted toward small and/or startupcompanies should be easy to access. At the same time, the study shows that the financial environmentdeteriorated in 2001, and venture capital was less available than in 2000 (dueto the crash of the stock markets). Recommendations are made for governments toexplore ways to increase financing, especially for young, small, and/orhigh-tech companies. (CBS)