In today’s rapidly changing business landscape, entrepreneurship is growing at an immense rate. But what exactly is its international impact? A recent report explores the influence of entrepreneurship on the global economy. The report analyzes the effect of entrepreneurship on international economics by exploring data on GDP per capita, unemployment, exports as a share of GDP, and patents per capita from 2004-2011.
In all four categories, entrepreneurship has a positive economic impact, although the size of the impact varies depending on the area. On average, an increase in business density allows a 38.44% increase in GDP per capita, a 20.02% decrease in unemployment, a 5.33% increase in exports as a share of GDP, and a 51.99% increase in patents per population. These percentages demonstrate a significant correlation between the rise of entrepreneurship and economic benefits.
The Impact of Entrepreneurship
The authors note that this impact is more pronounced in newly established firms than in existing firms. For the full report, please click here.
Contributed by Haley Goodman.
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