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Why Global Entrepreneurship Week is important
“Global Entrepreneurship Week is about growing enterprise ambition and ensuring that those with ideas know where to get the support they need to make them a reality. It’s about creating jobs and opportunities: small business in the UK employs nearly 60 per cent of the workforce and contributes almost half of UK turnover.”
David Cameron, Prime Minister
We believe that a large national campaign to promote entrepreneurship is a vital part of making the UK more entrepreneurial, to encourage more people to start up their own business.
The challenge we face is simple: whilst more than half of the population would like to start their own business, less than 5% actually do. These entrepreneurial ambitions are even more acute among certain demographic groups – particularly among young people and women. Young people in the UK are three times more likely to be unemployed than adults, and more than twice as many men start up businesses as women.
Yet mass participation in activities designed to promote entrepreneurship and entrepreneurial thinking can have proven outcomes in addressing these issues. Global Entrepreneurship Week – which began life in the UK back in 2004 as Enterprise Week – is the world’s largest campaign to promote entrepreneurship and is recognised by organisations all over the UK as the highlight of the entrepreneurship calendar.
As a result of the 2012 campaign:
- 92% of participants said that following the week, they would be proactively taking steps towards their entrepreneurial goal
- 64% of participants who were not entrepreneurs said that they were encouraged to think about starting their own business
- 25% of participants said that they had acquired new skills
- 46% of participants who were entrepreneurs said that they had been able to make useful new contacts