The problems in the US economy are mirrored around the world. Yet amid the negative forecasts and macroeconomic slumps, there are promising signs in that the global small business community is energized enough to spark an economic revival.
The Global Economic Monitor launched its 2011 report late last week. Its evidence is fascinating, especially for those considering taking their franchise outside of America. Despite the doom and gloom, it is clear that entrepreneurship is on the rise around the world. The Washington Post reported that the "world’s so-called “innovation-driven” economies saw an increase of 22 percent in early-stage entrepreneurship in 2011 over the year before, as measured by the number of people operating a business that’s less than 3.5 years old."
Findings were mixed in relation to the US economy. Apparently there has been a 60% rise in entrepreneurship in America in the last ten months, with 12% of Americans defined as 'entrepreneurs' but that's only brings the country back to 2005 levels of entrepreneurship. Scott Shane on the Small Biz Trends blog has written a post on why these statistics should not be celebrated too much by people in the US.
But beyond our shores, it's great to see such a big push to entrepreneurship. Perhaps there is reason to be exciting about the global economy.