The Global Entrepreneurship Monitor (GEM) provides a basis for comparing entrepreneurial activity, aspirations and intentions globally. The chart below shows the Total early-stage Entrepreneurial Activity (TEA). TEA is defined as
TEA = Percentage of 18-64 population who are either a nascent entrepreneur or owner-manager of a new business
The data shows that there is a gap between South Africa which is has moderate economic growth, and Brazil, India and China which have significantly higher economic growth rates in terms of Total Entrepreneurial Activity. (Curiously, Russia has high growth rates but low TEA rate). The data however suggests that South Africa may be catching up, with these high growth countries.
Total Entrepreneurial Activity in BRICS Countries
The data is summarised below for 2010 to indicate the percentage of people involved in entrepreneurial activity a percentage of the labour force. That means the numbers should be read as out of 100 people:
- Russia – 3.9 %
- South Africa – 8.9 %
- India – 11.5% (2008 Data)
- China – 14.4%
- Brazil – 17.5%
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