Chile is the most enterprising emerging economyPublished: June 2, 2009
The 2009 Global Entrepreneurship Monitor stressed that improvements to systems of financial support and government programs have encouraged the development of entrepreneurship in our country.
In a ceremony attended by the Finance Minister, Andrés Velasco, the findings of the 2009 Global Entrepreneurship Monitor (GEM) were released. The GEM is the most prestigious study of the state of entrepreneurship worldwide. The report indicated the positive progress of entrepreneurial activity in Chile and its contribution to local economic development.
Among the positive aspects highlighted, Chile is one of the few developing economies to have a greater number of 'opportunity entrepreneurs' (68%) than 'necessity entrepreneurs'. The aspects in which Chile scored highest were access to physical infrastructure, telecommunications, ports, highways, and social and cultural norms which support an enterprising culture.
The experts stressed that improvements to systems of financial support and government programs have encouraged the development of entrepreneurship. This reflects an improvement in the management of various instruments, like those promoted by the Chilean Economic Development Agency (CORFO), and the appearance of networks of angel investors and other entities.
This year, the report included the Global Entrepreneurship Index, which measures the context of entrepreneurship across countries and identifies three phases: factor -driven, efficiency-driven, and innovation-driven economies. Chile is ranked 17th, alongside the most developed economies.
José Ernesto Amorós, coordinator of GEM Chile, and one of those who conducted the study, indicated, "this shows that, in general terms, the country leads in both the region and among emerging economies. This new index allows us to define areas of opportunity and work on more effective programs and policies to strengthen entrepreneurship in Chile."
Pro enterpriseAccording to the 2008 report, 80% of Chileans who are economically active consider starting their own business to be a desirable career option. However, only 30% of the adult population (excluding entrepreneurs) believed there are good opportunities for starting such a business.
The Finance Minister commented on the report and underlined the progress of government policies encouraging enterprise, "in Chile, the idea of starting one's own business is becoming increasingly attractive, but the conditions must exist for an enterprise to be successful."
Velasco stressed there had been a lot of progress regarding financing, but that the subject of innovation has yet to receive the attention it deserves. "In order to improve, there needs to be more human capital, because people who are more specialised are in a better position to innovate," he stated.
About GEMGEM is a study of over sixty countries, measuring levels of entrepreneurship and analysing its effect on local economic development. The report identifies factors which affect levels of enterprise and suggests policies to increase these levels and improve economic development.
Source:
www.uai.clThe report is available in Spanish at:
www.gemchile.cl