Millennials and Gen X-ers Nearly Half of the World’s Entrepreneurs

Nearly half of the world’s entrepreneurs are between the ages of 25 and 44, according to a survey released Thursday by the Global Entrepreneurship Monitor. In all geographic regions surveyed, the highest rates of entrepreneurial activity were between the ages of 25-34.

More than 198,000 adults in 69 economies too part in the Gem survey in the late spring and early summer of 2012. The GEM survey was conducted in the late spring and early summer of 2012

The GEM 2012 Global Report also looked at cultural attitudes about entrepreneurship. Perceptions about entrepreneurial opportunities, capabilities, fear of failure, and intent to start a business are key predictors of entrepreneurial activity around the world. "We are finding that entrepreneurship education and media attention about entrepreneurs may have a lasting effect on cultural attitudes about entrepreneurship," Kelley stated.

Entrepreneurial activity tends to be high in economies with low GDP per capita, with a correspondingly higher proportion of necessity-motivated entrepreneurship. “Conversely, high GDP economies show lower levels of entrepreneurship, but a higher proportion of those with opportunity-motivations,” the report stated.

Sub-Saharan Africa and Latin America/Caribbean saw the highest average Total Entrepreneurial Activity (TEA) rates. In more industrial innovation-driven economies reported at least one-third more established business owners than entrepreneurs.

Differences across regions were also a factor in the reasons for “business discontinuance,” the report found. Financing, for example, was more of a key issue in Sub-Saharan Africa than it was in Asia. In the U.S. and the European Union, individuals cited other jobs and business opportunities more often than those in other reasons as a reason for discontinuing an entrepreneurial business.

Gender is also a factor in entrepreneurial activity. Men are twice as likely as women to be involved in entrepreneurial activity worldwide, but women entrepreneurial engagement varies between countries. In France, the male to female participation ratio is 12-to-1, compared to two-to-one in Brazil.