March 27, 2006
Recent study shows Venezuela has the highest spirit for business

(El Nacional) - "Can you imagine Venezuelans being the most enterprising people in the world? Well, yes. This is the case according to a poll taken in 35 countries and published by Federico Fernández, coordinator of the Entrepreneurship Centre of IESA ( Institute of Higher Administration Studies ).

Fernández explained that IESA represents a project called GEM (Global Entrepreneurship Monitor) which is a world monitor of these types of activities.

'The same poll is taken in different countries every year. 36 nations participated in 2005, and those were the results', he said.

The enterprising spirit of Venezuelans is unique. The poll showed 25% of Venezuelans has started their own business or manages small business, which are less than 3 years old.

Thailand was in second place, a country where 21% of people are entrepreneurs and in third place was New Zeeland, where the index was 18%.

'According to this study, the world average is 8.4%, so Venezuela and the other mentioned countries are two and three times above average.

Fernández highlighted there is a large group of Venezuelans negotiating new businesses (...)

The study shows most of these entrepreneurs are between 25 and 44 years old. Where does the money come from? The primary source is their own money and the secondary source is parents or close family.

Other sources are micro-credit programmes and governmental credits.

Regarding socio economical characteristics, Fernández explained there is a polarized situation: most entrepreneurs are in stratus D and E or A and B, meaning the highest and lowest social economical sectors (...)

The poll:

Sample: 2.000 over 18 adults from both sexes.

Geographical coverage: Eight regions of the country: Capital, Central, Central/West, Guayana, Northeast, Los Llanos and Zulia State .

Information was gathered using face to face, door to door interviews

Random sample stratified by sex, age, social stratus and regions.

Level of trust: 95%

Sample error:± 2.19%

Period: 19/04/05 to 27/04/05

 

A little bit more:

This is the most prestigious investigation on worldwide business initiatives and is part of a global project leaded by Babson College and the London Business School . The study began in 1999 in the US and England , with the purpose of comparing entrepreneurship initiatives around the world in order to create an index. 36 countries participated in 2005, as well as more than 200 researchers from prestigious universities around the world.

In Venezuela , the study was coordinated by IESA 's Entrepreneurship Centre , which represents the GEM project in the country.

The same poll was taken in every country and it was done in Venezuela by Datanalisis under strict international standards (...)".