Impact of Entrepreneurial Firms in Today's Economy: GEM and Gazelles
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Impact of Entrepreneurial Firms in Today's Economy
4.1 Global Entrepreneurship Monitor (GEM) by Babson College
Provides an annual assessment of the entrepreneurial environment of 42 countries.
Entrepreneurs lead to growth by:
- Entering and expanding existing markets
- Creating entirely new markets by offering innovative products
- Increasing diversity and fostering minority participation in the economy
4.2 The Most Impacting: The Gazelles (High Tech Growth Firm)
A “Gazelle” (high growth companies) is a business establishment with at least 20% sales growth in each year for five years, starting with a base of at least $100,000 in annual sales.
- Gazelles as leaders in innovation
- Produce twice as many product innovations per employee as do larger firms
- Have