This item was published during the term of a previous administration that ended in April 2007
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Entrepreneurship on the up in Scotland
24/02/2004
Scotland's level of entrepreneurial activity is
improving, according to a report published today by
Strathclyde University.
The Global Entrepreneurship Monitor survey shows:
- Total entrepreneurial activity (TEA) in Scotland has
increased from 4.6 per cent in 2002 to 5.5 per cent in
2003.
- Scotland has moved from the bottom TEA band to the
middle band, alongside countries such as France, Germany,
Spain and Ireland.
- Attitudes to entrepreneurship have improved, with
less fear of failure - this has declined from 36 per cent
to 30 per cent, and is now slightly below the UK level.
- Scottish universities created 7.2 'spin-out'
companies per $100 million dollars of research income (2001
figures), above the UK, US and Canada.
Speaking at a Scottish Chambers of Commerce lunch in
Edinburgh, Enterprise and Lifelong Learning Minister Jim
Wallace said:
"This is a welcome improvement in entrepreneurial
activity, particularly as the rise is mainly due to
so-called 'opportunity entrepreneurship' - those who start
up businesses to exploit unique market opportunities.
"The report's authors rightly highlight the
demographic challenge to the future health of the Scottish
economy. Work underway through the Executive's Fresh
Talent initiative, which the First Minister will outline
tomorrow, is tackling this challenge head-on.
"It is very encouraging to see a big change in attitudes
towards entrepreneurship, and a decline in those who cite
fear of failure as a reason for not going into business.
Scotland's long term economic success depends on fostering
a positive, entrepreneurial culture where people are
prepared to have a go and take responsible risks.
"On spin-outs, we are up there with the US and Canada
for the numbers of companies created and are actually
outperforming them based on research income.
"We have now moved into the middle tier for
entrepreneurial activity - but creating a Smart,
Successful Scotland means we must continue to aim for the
top."
The GEM results for Scotland are available from the
Hunter Centre for Entrepreneurship, Strathclyde University.
The UK TEA rate is 6.4 per cent.
On Attitudes towards Entrepreneurship, the number of
people in Scotland who said they knew an entrepreneur has
risen from 21 per cent to 30 per cent. Those who expect to
start a business in the next three years is 6.7 per cent,
below the UK average of 8 per cent.