Aston sponsors the first Global Entrepreneurship Monitor project in Bangladesh

The Global Entrepreneurship Monitor (GEM) project, jointly managed by Professor Mark Hart from Aston Business School, is the largest single study of entrepreneurial activity in the world.

The Global Entrepreneurship Monitor is based on the following premises:

  • an economy’s prosperity is highly dependent on a dynamic entrepreneurship sector

  • an economy’s entrepreneurial capacity is composed of individuals from all groups in society with the ability and motivation to start businesses and requires positive societal perceptions about entrepreneurship

  • high-growth entrepreneurship is a key contributor to new employment in an economy, and national competitiveness depends on innovative and cross-border entrepreneurial ventures.

Entrepreneurship has been recognised as an agent of development and transforming
business ideas into economic opportunities. The United Nations has stated that achieving
its poverty-reducing policy or Millennium development goal depends on the advancement of entrepreneurship and private sector development. So, progress of entrepreneurship in Bangladesh will help to reduce its existing high level of poverty.

The GEM Bangladesh survey was undertaken in some very difficult conditions ranging from
extreme weather and political turmoil in the country which interrupted the fieldwork on
many occasions. The survey was conducted in all seven administrative divisions of
Bangladesh among 2,000 randomly selected adults from urban and rural areas using the
Kish method of sampling. In addition, a National Expert Survey about ‘entrepreneurial
framework conditions in Bangladesh’ was undertaken among a range of experts in
Bangladesh across different sectors.

The GEM Bangladesh team is based at the International Islamic University of Chittagong,
which is one of the nine top graded private universities in Bangladesh. Bangladesh
became the 60th country to participate in the 2011 GEM Global survey.

During 2011, early-stage entrepreneurial activity was 12.8% in Bangladesh, while the
average for the comparative economies was 13.4%. The entrepreneurial attitude indicators
used in this study showed that opportunity perception in Bangladesh is the highest among
the comparative economies and third, globally.

However, the rate of perceived capabilities was the second lowest and the fear of failure was the highest in Bangladesh amongst the global comparison set.

In comparison to similar economies, Bangladesh is in a better position with regards to the entrepreneurship institution profile - especially in financing and cultural support. However, the country exhibits the same conditions in physical infrastructure and internal market dynamics when compared to similar economies.

For further information visit the Global Entrepreneurship Monitor (GEM) webpages or download issue 2 of Aston Advances.