WHAT IT TAKES

THE ELEMENTS OF

ENTREPRENEURSHIP

2 BUSINESS STRATEGY REVIEW

Business report

What does it take to become a successful entrepreneur The elements of the entrepreneurial periodic table are

diverse and demanding ndash perseverance vision confidence optimism and much more But their power

is undoubted If world economies are to recover entrepreneurs will be the agents of growth

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Entrepreneurship statistics

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Only 39 of entrepreneurial businesses have a lsquovery good idearsquo of their competitorsrsquo business

Deloitte Entrepreneurship UK 2009 Report

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There are around 48 million private sector enterprises in the UK employing 228 million people with an estimated combined annual turnover of pound3200 billion statsbisgovuk

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A latent pool of hidden innovators (over 50s ethnic minorities the disabled)

could potentially add pound15 billion to the UK economy by 2012 if the right conditions were created

Cass Business School Centre for New Technologies Innovation and Entrepreneurship

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SME s regard four factors as equally important barriers to innovation problems in access to finance scarcity of skilled labour a lack of market demand and the high cost of human resources

eceuropaeu

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Small and medium-sized enterprises together account for 999 of all UK enterprises 598 of private sector employment and 49 of private sector turnover

statsbisgovuk

9 BUSINESS STRATEGY REVIEW

Researchers at MI T found that companies held by living MI T alumni employed more than 3 million people and did $2 trillion in business worldwide equivalent to the 11th-largest economy in the world

entrepreneurcom

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Women account for around one in four of all enterprises in the Slovak Republic

euractivcom

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Of the 47 million UK enterprises only 15 are led by women

ldquoInspiring Women Corporate best practice in Europerdquo London Business School

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Samoa went from one of the toughest places in the world to start a business to one of the best mdash 131st out of 183 to number 20

onlinewsjcom

BUSINESS STRATEGY REVIEW

This report was part of Business Strategy Review Volume 22 Issue 2 ndash 2011

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