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GEM UK: Wales Report 2011

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This report summarises the main findings and key themes for Wales from the 2011 Global Entrepreneurship Monitor (GEM) survey.

The Global Entrepreneurship Monitor (GEM) is an international project involving 43 countries which seeks to provide information on the entrepreneurial landscape of countries. The results of the GEM data analysis are used as key benchmarking.

The findings from the survey is summarised below:

  • The level of early stage entrepreneurial activity in Wales in 2011 was 8.1%, up significantly from 5.8% in 2010. The overall UK rate was 7.6%;
  • The figures for Wales equates to around one in every twelve adults aged 18-64;
  • Female entrepreneurship in Wales rose to a record high of 6.1%, compared to 5.0% in the UK.
  • Early-stage entrepreneurial activity amongst young adults aged 18-29 continued to rise in 2011. The figure has almost trebled amongst this age group in Wales from 3.4% in 2002 to 9.7% in 2011.
  • The number of non-entrepreneurial working age adults in Wales who expect to start a business within the next three years has risen from 5.2% in 2010 to 7.6% in 2011.