DISCUSS: How do you Become a Rural Entrepreneur by John Grace

Overview

Entrepreneurship is not a new concept, however it has gained prominence post WWII as innovation in science and technology and the rise of new economic powerhouses has contributed to new global economic realities. As part of this new reality, entrepreneurship is being viewed as essential to a vital economy - innovation creates demand for new products, for new ways of doing things and for providing services we need. New businesses also contribute significantly to growth in employment.

Entrepreneurship is not for everybody. In their latest global report on entrepreneurship, the Global Economic Monitor [GEM] (Amway and Technische Universitat Munchen School of Management 2013) interviewed 26,009 people aged 14 or older across 24 countries. GEM found that Australian survey respondents had a very positive attitude towards entrepreneurship at 84% (the 3rd highest ranking). However when the researchers compared the number of survey respondents who showed potential to become entrepreneurs in Australia as compared to those that had taken up self-employment they found a gap of 44% (the average result for all countries surveyed was 31%). This result would suggest
that the actual and perceived barriers to entrepreneurship in Australia are deterring more wouldbe entrepreneurs here than the average across the 23 other countries surveyed.

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